According to consensus agreement of 17 analysts Phillips 66 (NYSE:PSX) will report earnings per share of $0.93 in their quarterly report and it is expected to announce the company’s results on 7/29/2016 BMO.
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Other Hedge Funds, Including, Checchi Capital Advisers reduced its stake in PSX by selling 232 shares or 3.97% in the most recent quarter.
Valero said on Tuesday it expected lower refinery utilization over the rest of the year as companies step up efforts to counter slumping refining margins. 158,442 shares of the company traded hands.
Phillips 66 (NYSE:PSX) traded down 1.42% during mid-day trading on Friday, reaching $75.17. The heightened volatility saw the trading volume jump to 2,92,910 shares. The stock has a market capitalization of $4.42 billion and a price-to-earnings ratio of 27.22. Analyst had a consensus of $0.87.Analysts expectations of $ 27437.26.During the same quarter in the previous year, the company posted $1.51 EPS. The company’s management has announced Aug 16, 2016 as the ex-dividend date and fixed the record date on Aug 18, 2016. The payable date has been fixed on Aug 12, 2016.
Many Wall Street Analysts have commented on Phillips 66.
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In other news, Director Mark Haney acquired 8,000 shares of Phillips 66 Partners stock in a transaction that occurred on Friday, May 20th. Morgan Stanley cut Phillips 66 from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $105.00 to $90.00 in a research note on Friday, June 17th. Wells Fargo & Co. lowered shares of Phillips 66 Partners from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $59.00 to $57.00 in a research note on Tuesday, May 3rd. The Company operates its business through four segments: midstream chemicals refining and marketing and specialties. The Chemicals segment consists of its 50% equity investment in Chevron Phillips Chemical Company LLC (CPChem). The Company charges tariffs and fees for transporting crude oil and refined petroleum product pipeline, terminal, rail rack and storage systems in the Central, Gulf Coast, Atlantic Basin and Western regions of the United States.
