FY2027 EPS Estimates for Phillips 66 Increased by Scotiabank

Key Points

• Scotiabank raised its FY2027 EPS estimate for Phillips 66 to $12.55 (from $11.95) and kept a "Sector Perform" rating with a $151 price target, while the consensus full-year earnings estimate sits at $14.12 per share.
• Several major firms (notably UBS and TD Cowen) have lifted price targets into the low $200s and issued Buy ratings, but MarketBeat's consensus remains a "Hold" with a $181.33 target.
• Phillips 66 recently beat quarterly EPS estimates ($2.47 vs. $2.15), announced a $1.27 quarterly dividend (annualized $5.08; ~3.1% yield), and insiders have sold shares totaling roughly $16.4 million over the past three months.

Phillips 66 (NYSE:PSX - Free Report) - Research analysts at Scotiabank raised their FY2027 EPS estimates for shares of Phillips 66 in a research report issued to clients and investors on Thursday, April 23rd. Scotiabank analyst B. Zhang now expects that the oil and gas company will earn $12.55 per share for the year, up from their previous estimate of $11.95. Scotiabank has a "Sector Perform" rating and a $151.00 price target on the stock. The consensus estimate for Phillips 66's current full-year earnings is $14.12 per share.

Phillips 66 (NYSE:PSX - Get Free Report) last issued its quarterly earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 EPS for the quarter, beating the consensus estimate of $2.15 by $0.32. The company had revenue of $32.16 billion for the quarter, compared to the consensus estimate of $33.81 billion. Phillips 66 had a net margin of 3.22% and a return on equity of 9.13%. During the same period in the prior year, the firm posted ($0.15) EPS.

Other equities analysts also recently issued reports about the stock. Weiss Ratings upgraded shares of Phillips 66 from a "hold (c)" rating to a "buy (b-)" rating in a report on Monday, February 23rd. UBS Group upped their price target on shares of Phillips 66 from $172.00 to $212.00 and gave the company a "buy" rating in a report on Thursday, April 2nd. TD Cowen upped their price target on shares of Phillips 66 from $155.00 to $213.00 and gave the company a "buy" rating in a report on Wednesday, April 1st. Jefferies Financial Group downgraded shares of Phillips 66 from a "strong-buy" rating to a "hold" rating in a report on Monday, April 13th. Finally, The Goldman Sachs Group upped their price target on shares of Phillips 66 from $186.00 to $192.00 and gave the company a "neutral" rating in a report on Friday, April 10th. Eleven research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $181.33.

Phillips 66 Stock Performance

Shares of NYSE:PSX opened at $162.83 on Monday. The company has a market capitalization of $65.25 billion, a price-to-earnings ratio of 15.05, a PEG ratio of 0.30 and a beta of 0.76. Phillips 66 has a 12 month low of $101.54 and a 12 month high of $190.61. The firm's 50-day moving average is $166.67 and its 200 day moving average is $148.12. The company has a current ratio of 1.30, a quick ratio of 0.91 and a debt-to-equity ratio of 0.62.

Phillips 66 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 18th will be paid a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Monday, May 18th. Phillips 66's dividend payout ratio is currently 46.95%.

Insiders Place Their Bets

In other Phillips 66 news, CFO Kevin J. Mitchell sold 16,856 shares of the company's stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $168.22, for a total value of $2,835,516.32. Following the transaction, the chief financial officer directly owned 97,376 shares in the company, valued at $16,380,590.72. This represents a 14.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lisa Ann Davis sold 3,800 shares of the company's stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $174.37, for a total transaction of $662,606.00. Following the completion of the transaction, the director owned 8,701 shares in the company, valued at $1,517,193.37. This represents a 30.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 95,923 shares of company stock worth $16,399,619. 0.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Phillips 66

A number of hedge funds have recently added to or reduced their stakes in PSX. Patten Group Inc. boosted its stake in shares of Phillips 66 by 1.1% during the first quarter. Patten Group Inc. now owns 7,541 shares of the oil and gas company's stock valued at $1,374,000 after purchasing an additional 84 shares in the last quarter. Strs Ohio boosted its stake in shares of Phillips 66 by 4.8% during the first quarter. Strs Ohio now owns 265,739 shares of the oil and gas company's stock valued at $48,412,000 after purchasing an additional 12,086 shares in the last quarter. Root Financial Partners LLC boosted its stake in shares of Phillips 66 by 102.0% during the first quarter. Root Financial Partners LLC now owns 2,859 shares of the oil and gas company's stock valued at $521,000 after purchasing an additional 1,444 shares in the last quarter. Petros Family Wealth LLC boosted its stake in shares of Phillips 66 by 16.5% during the first quarter. Petros Family Wealth LLC now owns 8,642 shares of the oil and gas company's stock valued at $1,574,000 after purchasing an additional 1,226 shares in the last quarter. Finally, Jacobsen Capital Management bought a new position in shares of Phillips 66 during the first quarter valued at approximately $260,000. 76.93% of the stock is currently owned by institutional investors.

Phillips 66 Company Profile

Phillips 66 NYSE: PSX is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company's principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.

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