Phillips 66 (NYSE:PSX) Posts Quarterly Earnings Results

Phillips 66 (NYSE:PSX) released its quarterly earnings data on Tuesday. The oil and gas company reported $2.04 EPS for the quarter, beating the consensus estimate of $1.63 by $0.41, Briefing.com reports. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The business had revenue of $36.16 billion for the quarter, compared to the consensus estimate of $36.31 billion. During the same period in the prior year, the firm earned $4.63 earnings per share. The company’s revenue was down 10.3% compared to the same quarter last year.

Phillips 66 Price Performance

Shares of PSX traded down $1.46 during mid-day trading on Wednesday, hitting $121.81. 567,054 shares of the stock were exchanged, compared to its average volume of 2,665,206. The company has a market cap of $50.99 billion, a PE ratio of 10.57, a price-to-earnings-growth ratio of 5.47 and a beta of 1.33. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.79 and a current ratio of 1.14. The firm has a 50-day moving average of $132.04 and a two-hundred day moving average of $138.32. Phillips 66 has a 52-week low of $110.54 and a 52-week high of $174.08.

Phillips 66 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be paid a dividend of $1.15 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.60 annualized dividend and a yield of 3.78%. Phillips 66’s payout ratio is 39.45%.

Insider Buying and Selling

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the transaction, the chief financial officer now owns 81,937 shares of the company’s stock, valued at approximately $11,390,062.37. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.22% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PSX. Scotiabank cut their price objective on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. TD Cowen dropped their target price on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Wolfe Research began coverage on shares of Phillips 66 in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Morgan Stanley reduced their price target on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. Finally, Barclays lowered their price objective on shares of Phillips 66 from $138.00 to $133.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 8th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $149.50.

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.