Scotiabank Issues Positive Outlook for Phillips 66 Earnings

Phillips 66 (NYSE:PSX - Free Report) - Scotiabank raised their FY2026 earnings per share estimates for Phillips 66 in a note issued to investors on Thursday, April 23rd. Scotiabank analyst B. Zhang now anticipates that the oil and gas company will post earnings per share of $12.05 for the year, up from their prior estimate of $10.35. Scotiabank currently has a "Sector Perform" rating and a $151.00 target price 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 announced its quarterly earnings data on Wednesday, February 4th. The oil and gas company reported $2.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.15 by $0.32. Phillips 66 had a return on equity of 9.13% and a net margin of 3.22%.The firm had revenue of $32.16 billion for the quarter, compared to analysts' expectations of $33.81 billion. During the same period last year, the firm earned ($0.15) earnings per share.

A number of other research analysts have also recently issued reports on PSX. Zacks Research cut Phillips 66 from a "strong-buy" rating to a "hold" rating in a research note on Friday, January 16th. Weiss Ratings raised Phillips 66 from a "hold (c)" rating to a "buy (b-)" rating in a research note on Monday, February 23rd. The Goldman Sachs Group raised their price objective on Phillips 66 from $186.00 to $192.00 and gave the company a "neutral" rating in a research note on Friday, April 10th. Raymond James Financial raised their price objective on Phillips 66 from $175.00 to $205.00 and gave the company an "outperform" rating in a research note on Wednesday, March 25th. Finally, Citigroup raised their price objective on Phillips 66 from $159.00 to $183.00 and gave the company a "neutral" rating in a research note on Thursday, April 9th. Eleven analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat, Phillips 66 presently has a consensus rating of "Hold" and an average target price of $181.33.

Phillips 66 Stock Up 0.8%

Shares of NYSE:PSX opened at $164.18 on Tuesday. The stock's 50-day moving average price is $166.76 and its 200-day moving average price is $148.35. Phillips 66 has a 12-month low of $102.16 and a 12-month high of $190.61. The stock has a market capitalization of $65.79 billion, a P/E ratio of 15.17, a price-to-earnings-growth ratio of 0.30 and a beta of 0.76. The company has a current ratio of 1.30, a quick ratio of 0.91 and a debt-to-equity ratio of 0.62.

Institutional Trading of Phillips 66

Several large investors have recently modified their holdings of the business. Clifford Group LLC grew its position in shares of Phillips 66 by 2.0% during the 4th quarter. Clifford Group LLC now owns 3,315 shares of the oil and gas company's stock valued at $428,000 after acquiring an additional 64 shares during the period. CYBER HORNET ETFs LLC grew its position in shares of Phillips 66 by 5.7% during the 4th quarter. CYBER HORNET ETFs LLC now owns 1,228 shares of the oil and gas company's stock valued at $158,000 after acquiring an additional 66 shares during the period. L2 Asset Management LLC grew its position in shares of Phillips 66 by 4.0% during the 3rd quarter. L2 Asset Management LLC now owns 1,893 shares of the oil and gas company's stock valued at $257,000 after acquiring an additional 72 shares during the period. GHP Investment Advisors Inc. grew its position in shares of Phillips 66 by 2.3% during the 4th quarter. GHP Investment Advisors Inc. now owns 3,210 shares of the oil and gas company's stock valued at $414,000 after acquiring an additional 72 shares during the period. Finally, Johnson Financial Group Inc. grew its position in shares of Phillips 66 by 11.9% during the 4th quarter. Johnson Financial Group Inc. now owns 679 shares of the oil and gas company's stock valued at $88,000 after acquiring an additional 72 shares during the period. 76.93% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Phillips 66 news, Director Kevin Omar Meyers bought 175 shares of the business's stock in a transaction that occurred on Tuesday, March 17th. The shares were bought at an average cost of $173.20 per share, with a total value of $30,310.00. Following the completion of the purchase, the director directly owned 16,624 shares of the company's stock, valued at $2,879,276.80. This trade represents a 1.06% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Kevin J. Mitchell sold 15,629 shares of the firm's stock in a transaction dated Monday, March 30th. The stock was sold at an average price of $190.07, for a total value of $2,970,604.03. Following the completion of the sale, the chief financial officer directly owned 97,376 shares in the company, valued at $18,508,256.32. The trade was a 13.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 95,923 shares of company stock valued at $16,399,619 over the last ninety days. Corporate insiders own 0.40% of the company's stock.

Phillips 66 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Monday, May 18th will be paid a $1.27 dividend. The ex-dividend date of this dividend is Monday, May 18th. This represents a $5.08 annualized dividend and a dividend yield of 3.1%. Phillips 66's dividend payout ratio (DPR) is presently 46.95%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.