Phillips 66 (NYSE:PSX) Issues Earnings Results

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

Phillips 66 Trading Down 3.1 %

PSX stock traded down $4.53 on Thursday, hitting $140.95. 3,268,915 shares of the company were exchanged, compared to its average volume of 2,677,026. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.17 and a quick ratio of 0.82. The stock has a market capitalization of $59.76 billion, a price-to-earnings ratio of 11.19, a price-to-earnings-growth ratio of 2.61 and a beta of 1.34. Phillips 66 has a twelve month low of $107.41 and a twelve month high of $174.08. The business’s fifty day moving average is $139.17 and its two-hundred day moving average is $145.76.

Phillips 66 Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts have commented on PSX shares. Argus reiterated a “buy” rating and set a $167.00 target price on shares of Phillips 66 in a research report on Thursday, May 30th. Barclays dropped their target price on shares of Phillips 66 from $142.00 to $136.00 and set an “equal weight” rating for the company in a report on Tuesday, July 9th. StockNews.com downgraded shares of Phillips 66 from a “buy” rating to a “hold” rating in a report on Monday, May 6th. TD Cowen raised their price objective on shares of Phillips 66 from $155.00 to $162.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Wolfe Research assumed coverage on Phillips 66 in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Phillips 66 presently has an average rating of “Moderate Buy” and a consensus target price of $157.23.

Insider Buying and Selling at Phillips 66

In other news, EVP Timothy D. Roberts sold 37,742 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $145.80, for a total transaction of $5,502,783.60. Following the completion of the sale, the executive vice president now directly owns 48,365 shares in the company, valued at approximately $7,051,617. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.22% of the stock is owned by company insiders.

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.