Phillips 66 (NYSE:PSX – Get Free Report) 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
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.
Check Out Our Latest Stock Analysis on PSX
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.
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