Scotiabank Weighs in on Phillips 66 FY2024 Earnings

Phillips 66 (NYSE:PSX) – Investment analysts at Scotiabank issued their FY2024 earnings per share estimates for Phillips 66 in a report released on Wednesday, January 8th. Scotiabank analyst P. Cheng anticipates that the oil and gas company will earn $7.80 per share for the year. Scotiabank has a “Sector Outperform” rating and a $136.00 price target on the stock. The consensus estimate for Phillips 66’s current full-year earnings is $7.56 per share. Scotiabank also issued estimates for Phillips 66’s FY2025 earnings at $9.75 EPS.

Other equities analysts have also recently issued research reports about the stock. Wells Fargo & Company reduced their price target on shares of Phillips 66 from $167.00 to $161.00 and set an “overweight” rating on the stock in a research report on Monday, December 9th. Piper Sandler downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Mizuho lowered their price target on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a report on Monday, December 16th. Barclays reduced their price objective on Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a research note on Monday. Finally, Wolfe Research raised shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective for the company in a report on Friday, January 3rd. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Phillips 66 currently has an average rating of “Moderate Buy” and an average price target of $147.93.

Phillips 66 Trading Up 0.9 %

NYSE PSX opened at $117.03 on Monday. The company’s fifty day moving average price is $122.91 and its two-hundred day moving average price is $130.03. The company has a market capitalization of $48.33 billion, a price-to-earnings ratio of 15.02, a price-to-earnings-growth ratio of 4.06 and a beta of 1.38. Phillips 66 has a 12 month low of $108.90 and a 12 month high of $174.08. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.41. The business had revenue of $36.16 billion during the quarter, compared to the consensus estimate of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The business’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter last year, the company earned $4.63 earnings per share.

Institutional Investors Weigh In On Phillips 66

Several institutional investors have recently bought and sold shares of PSX. nVerses Capital LLC acquired a new stake in shares of Phillips 66 in the 3rd quarter worth approximately $26,000. Values First Advisors Inc. acquired a new stake in Phillips 66 in the third quarter worth approximately $30,000. Point72 Hong Kong Ltd bought a new position in Phillips 66 during the 3rd quarter valued at $40,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Phillips 66 during the 2nd quarter valued at $51,000. Finally, Hoese & Co LLP raised its stake in shares of Phillips 66 by 33.1% in the 3rd quarter. Hoese & Co LLP now owns 402 shares of the oil and gas company’s stock worth $53,000 after buying an additional 100 shares in the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Company Profile

Phillips 66 operates as an energy manufacturing and logistics company in the United States, the United Kingdom, Germany, and internationally. 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 petroleum products to market; provides terminaling and storage services for crude oil and refined 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.