Phillips 66 (NYSE:PSX) Posts Earnings Results, Beats Expectations By $0.41 EPS

Phillips 66 (NYSE:PSX) issued its earnings results on Tuesday. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.41, Briefing.com reports. The company had revenue of $36.16 billion during the quarter, compared to analyst estimates of $36.31 billion. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The firm’s quarterly revenue was down 10.3% on a year-over-year basis. During the same quarter last year, the business posted $4.63 EPS.

Phillips 66 Trading Down 1.2 %

NYSE:PSX traded down $1.46 during mid-day trading on Wednesday, reaching $121.81. The company’s stock had a trading volume of 567,054 shares, compared to its average volume of 2,665,206. Phillips 66 has a twelve month low of $110.54 and a twelve month high of $174.08. The company’s fifty day simple moving average is $132.04 and its two-hundred day simple moving average is $138.32. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 0.79. The stock has a market cap of $50.99 billion, a P/E ratio of 10.57, a P/E/G ratio of 5.47 and a beta of 1.33.

Phillips 66 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be given 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 dividend payout ratio (DPR) is presently 39.45%.

Insider Transactions at Phillips 66

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the firm’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 completion of the sale, the chief financial officer now owns 81,937 shares in the company, valued at $11,390,062.37. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PSX. 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. Morgan Stanley cut their target price on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. Raymond James raised their price target on Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. lowered their target price on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a report on Wednesday, October 2nd. Finally, TD Cowen reduced their price target on Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $149.50.

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.