Phillips 66 (NYSE:PSX) Announces Quarterly Earnings Results

Phillips 66 (NYSE:PSX) issued its earnings results on Tuesday. The oil and gas company reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.33, Briefing.com reports. Phillips 66 had a return on equity of 16.64% and a net margin of 3.33%. The business had revenue of $38.91 billion during the quarter, compared to analyst estimates of $37.79 billion. During the same period in the previous year, the company posted $3.87 EPS. Phillips 66’s revenue was up 8.9% on a year-over-year basis.

Phillips 66 Stock Performance

Shares of PSX traded down $4.53 during trading hours on Thursday, reaching $140.95. 3,268,915 shares of the company traded hands, compared to its average volume of 2,677,026. The stock has a market capitalization of $59.76 billion, a P/E ratio of 11.19, a P/E/G ratio of 2.61 and a beta of 1.34. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.58. The business has a fifty day moving average price of $139.17 and a 200-day moving average price of $145.76. Phillips 66 has a 12-month low of $107.41 and a 12-month high of $174.08.

Phillips 66 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th will be issued a $1.15 dividend. The ex-dividend date is Tuesday, August 20th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.26%. Phillips 66’s dividend payout ratio is currently 35.38%.

Analyst Ratings Changes

Several equities analysts have recently commented on PSX shares. Barclays cut their price target on Phillips 66 from $142.00 to $136.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 9th. Wells Fargo & Company reduced their price target on shares of Phillips 66 from $180.00 to $176.00 and set an “overweight” rating for the company in a report on Wednesday. Raymond James increased their price objective on shares of Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a research note on Wednesday. Wolfe Research initiated coverage on shares of Phillips 66 in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Finally, Scotiabank dropped their target price on Phillips 66 from $156.00 to $145.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Phillips 66 presently has a consensus rating of “Moderate Buy” and a consensus target price of $157.23.

Insiders Place Their Bets

In other news, EVP Timothy D. Roberts sold 37,742 shares of the stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $145.80, for a total value of $5,502,783.60. Following the transaction, the executive vice president now directly owns 48,365 shares of the company’s stock, valued at $7,051,617. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.22% of the stock is currently owned by insiders.

Phillips 66 Company Profile

Phillips 66 operates as an energy manufacturing and logistics company in the United States, the United Kingdom, Germany, and internationally. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks; delivers refined petroleum products to market; provides terminaling and storage services for crude oil and refined petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.