Phillips 66 (NYSE:PSX) – Piper Sandler upped their Q1 2021 earnings estimates for Phillips 66 in a note issued to investors on Wednesday, January 20th. Piper Sandler analyst R. Todd now anticipates that the oil and gas company will post earnings of $0.05 per share for the quarter, up from their prior forecast of $0.03. Piper Sandler has a “Overweight” rating and a $76.00 price target on the stock. Piper Sandler also issued estimates for Phillips 66’s Q2 2021 earnings at $0.62 EPS, Q3 2021 earnings at $1.40 EPS, Q4 2021 earnings at $0.98 EPS and FY2021 earnings at $3.04 EPS.
Several other equities research analysts also recently weighed in on the company. Raymond James upped their target price on Phillips 66 from $60.00 to $75.00 and gave the stock an “outperform” rating in a research report on Friday, November 20th. Mizuho decreased their target price on Phillips 66 from $92.00 to $70.00 and set a “buy” rating for the company in a research report on Thursday, October 22nd. Cowen increased their price target on Phillips 66 from $67.00 to $70.00 and gave the company an “outperform” rating in a report on Tuesday, December 15th. Wolfe Research raised Phillips 66 from a “market perform” rating to an “outperform” rating and set a $63.00 price target for the company in a report on Thursday, November 5th. Finally, Barclays reduced their price target on Phillips 66 from $73.00 to $64.00 and set an “overweight” rating for the company in a report on Tuesday, October 6th. Three research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Phillips 66 currently has a consensus rating of “Buy” and an average target price of $71.76.
Shares of NYSE PSX opened at $73.16 on Friday. Phillips 66 has a 1-year low of $40.04 and a 1-year high of $102.99. The business has a 50-day moving average of $69.81 and a 200-day moving average of $61.01. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.75. The company has a market capitalization of $31.96 billion, a price-to-earnings ratio of -11.86, a PEG ratio of 3.65 and a beta of 1.67. Phillips 66 (NYSE:PSX) last issued its earnings results on Wednesday, November 4th. The oil and gas company reported ($0.01) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.80) by $0.79. Phillips 66 had a positive return on equity of 3.38% and a negative net margin of 3.45%. The company had revenue of $16.30 billion during the quarter, compared to the consensus estimate of $17.15 billion. During the same quarter in the prior year, the business earned $3.11 earnings per share.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. raised its stake in Phillips 66 by 3.5% during the third quarter. BlackRock Inc. now owns 30,418,422 shares of the oil and gas company’s stock valued at $1,576,891,000 after buying an additional 1,019,044 shares in the last quarter. Wells Fargo & Company MN raised its stake in Phillips 66 by 0.7% during the third quarter. Wells Fargo & Company MN now owns 11,672,564 shares of the oil and gas company’s stock valued at $605,105,000 after buying an additional 81,872 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Phillips 66 by 48.5% during the third quarter. JPMorgan Chase & Co. now owns 6,997,564 shares of the oil and gas company’s stock valued at $365,202,000 after buying an additional 2,286,501 shares in the last quarter. Morgan Stanley raised its stake in Phillips 66 by 25.5% during the third quarter. Morgan Stanley now owns 4,065,585 shares of the oil and gas company’s stock valued at $210,759,000 after buying an additional 825,030 shares in the last quarter. Finally, Neuberger Berman Group LLC raised its position in shares of Phillips 66 by 32.1% during the 3rd quarter. Neuberger Berman Group LLC now owns 2,114,117 shares of the oil and gas company’s stock worth $109,576,000 after purchasing an additional 513,834 shares during the period. Hedge funds and other institutional investors own 64.56% of the company’s stock.
Phillips 66 Company Profile
Phillips 66 operates as an energy manufacturing and logistics company. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks; delivers refined products to market; provides terminaling and storage services for crude oil and petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.
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