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What to Look for When Phillips 66 (PSX) Reports Q3 Earnings on Friday

NEW YORK (TheStreet) -- Shares of Phillips 66 (PSX) were down in early afternoon trading on Thursday as the company will post financial results for the 2016 third quarter before tomorrow's opening bell.

Analysts surveyed by FactSet are looking for adjusted earnings of 89 cents per share and $22.9 billion in revenue.

In 2015, the Houston-based energy manufacturing and logistics company reported earnings of $3.02 per diluted share on revenue of $26.4...