Phillips 66 (NYSE: PSX) is scheduled to report third quarter financial results before the markets open on Friday. The consensus estimates from Thomson Reuters call for $2.24 in earnings per share on $29.86 billion in revenue. The third quarter from the previous year had $2.02 in EPS on $41.05 billion in revenue.

This top refiner has had an up-and-down trading year, and any pullback may be the time to buy or add shares, like Warren Buffett recently did in a big way. Phillips 66 is a diversified energy manufacturing and logistics company. With a portfolio of midstream, chemicals, refining, and marketing and specialties businesses, the company processes, transports, stores and markets fuels and products globally. Phillips 66 Partners, the company’s master limited partnership, is an integral asset in the portfolio. The company has $50 billion of assets as of June 30, 2015.

The company is geographically diversified and the 15 refineries spread around the country enable it to participate in various location specific market opportunities and also provide an advantage over region-specific competitors. Phillips 66’s refineries are integrated with transportation, marketing and commercial operations that provide crude supply flexibility. These refineries benefit from strong margins due to low feedstock costs thanks to a higher proportion of onshore crude sources, which are substantially cheaper than seaborne crudes. Phillips 66 also owns or has interests in three refineries in Europe and one in Asia.

Ahead of earnings a few analysts weighed in on this oil giant:

• Citigroup reiterated a Buy rating with an $88 price target.
• Barclays reiterated a Buy rating with a $104 price target.
• Oppenheimer reiterated an Outperform rating with a $95 price target.

So far in 2015, Phillips 66 has outperformed the market and the stock is up nearly 21% year to date. However, over the past 52-weeks the stock is up 12.5%.

Shares of Phillips 66 were last trading up 1.8% at $86.39, with a consensus analyst price target of $94.08 and a 52-week trading range of $57.33 to $86.92.

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