Phillips 66 (PSX) to Release Earnings on Friday

Phillips 66 (NYSE:PSX) is anticipated to post its quarterly earnings results before the market opens on Friday, January 31st. Analysts expect Phillips 66 to post earnings of $1.23 per share and revenue of $35.77 billion for the quarter. Individual interested in registering for the company’s earnings conference call can do so using this link.

Phillips 66 (NYSE:PSX) last announced its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, topping the consensus estimate of $1.63 by $0.41. The firm had revenue of $36.16 billion for the quarter, compared to analysts’ expectations of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The firm’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.63 earnings per share. On average, analysts expect Phillips 66 to post $6 EPS for the current fiscal year and $8 EPS for the next fiscal year.

Phillips 66 Stock Performance

Shares of NYSE PSX opened at $122.20 on Thursday. Phillips 66 has a 1 year low of $108.90 and a 1 year high of $174.08. The firm has a market cap of $50.47 billion, a P/E ratio of 15.69, a PEG ratio of 3.78 and a beta of 1.38. The stock has a fifty day moving average price of $121.27 and a two-hundred day moving average price of $128.82. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21.

Analyst Upgrades and Downgrades

Several brokerages have commented on PSX. Barclays dropped their price target on shares of Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Wolfe Research upgraded shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price on the stock in a report on Friday, January 3rd. Wells Fargo & Company cut their target price on shares of Phillips 66 from $167.00 to $161.00 and set an “overweight” rating for the company in a research note on Monday, December 9th. Piper Sandler lowered shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Finally, Scotiabank cut their price objective on 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. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, Phillips 66 presently has an average rating of “Moderate Buy” and an average price target of $147.93.

About Phillips 66

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.