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Stock Update: Phillips 66 (NYSE:PSX) – Phillips 66 Reports First-Quarter Earnings of $385 Million or $0.72 Per Share

[Business Wire] – Phillips 66 , an energy manufacturing and logistics company, announces first-quarter earnings of $385 million, compared with $650 million in the fourth quarter of 2015. Adjusted earnings were $360 million, a decrease of $350 million from the last quarter. Read more on this. Phillips 66 (PSX) , valued at $43.28B, opened at $85.21. During today’s session, PSX traded between $82.23 to $86.03 and has traded between $69.79 and $94.12 over the past year. Phillips 66 (PSX) shares are currently priced at 14.90x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 3.39x earnings multiple for the same period. And for passive income investors, the company pays shareholders $2.24 per share annually in dividends, yielding 2.53%. Consensus earnings for the current quarter by the 16 sell-side analysts covering the stock is an estimate of $0.87 per share, which would be $0.64 worse than the year-ago quarter and a $0.48 sequential decrease. The full-year EPS estimate is $5.89, which would be a $1.78 better than last year. The quarterly earnings estimate is predicated on a consensus revenue forecast of $22.64 Billion. If reported, that would be a 3.37% decrease over the year-ago quarter. In terms of ratings, Citigroup downgraded PSX from Buy to Neutral (Apr 20, 2016). Previously, Cowen Initiated PSX at to Market Perform. Given all the information above, we should disclose to readers that the average price target is $91.00, which is 6.79% above than it opened this morning. See more in (NYSE:PSX) Similar Articles: Market Update: Phillips 66 (NYSE:PSX) – Phillips 66 to Host Annual Meeting of Shareholders Stock Update (NYSE:PSX): Buffett’s Berkshire buys $1 bln worth of Phillips 66 stock in 2016 Stock Update: Phillips 66 (NYSE:PSX) – Phillips 66 Reports Fourth-Quarter Earnings of $650 Million or $1.20 Per Share
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