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Company Update (NYSE:PSX): Phillips 66 to Present at Credit Suisse Energy Summit

[Business Wire] – Phillips 66 President Tim Taylor will speak to investors and securities analysts at the 2016 Credit Suisse Energy Summit on Tuesday, Feb. 23, 2016, at 9:10 a.m. MST. Taylor will discuss the company’s execution of its value-creating strategy, including an update on growth projects, return enhancement opportunities and commitment to disciplined capital allocation. Read more on this. Phillips 66 (PSX) , valued at $40.11B, started the session at $74.00. Looking at today’s trading action, the company’s one day range from $73.84 to $75.32 with a trailing 52-week range being $69.79 to $94.12. PSX shares are currently priced at 11.11x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry ’s 15.65x forward p/e ratio. And for those looking to make a return holding the stock, the company pays shareholders $2.24 per share annually in dividends, yielding 2.86%. In a review of the consensus earnings estimate this quarter, 14 sell-side analysts are looking at $1.26 per share, which would be $0.25 worse than the year-ago quarter and a $0.21 sequential decrease. Investors should also note that the full-year EPS estimate of $6.56 is a $1.11 worse when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $25.02 Billion. If realized, that would be a 6.79% increase over the year-ago quarter. In terms of ratings, Goldman downgraded PSX from Neutral to Sell (Nov 23, 2015). Previously, Credit Suisse downgraded PSX from Outperform to Neutral. The average price target for PSX shares is $93.82, which is 26.78% above where the stock opened this morning. See more in (NYSE:PSX) Similar Articles: Company Update (NYSE:DVN): Devon Energy to Present at Credit Suisse Annual Energy Summit Stock Update: Phillips 66 (NYSE:PSX) – Phillips 66 Reports Fourth-Quarter Earnings of $650 Million or $1.20 Per Share Company Update (NYSE:PSX): Phillips 66, Spectra Energy Announce Plan to Strengthen DCP Midstream
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