Phillips 66 (NYSE:PSX) Issues Quarterly Earnings Results, Misses Expectations By $1.38 EPS

Phillips 66 (NYSE:PSX) posted its quarterly earnings results on Friday. The oil and gas company reported ($0.15) EPS for the quarter, missing the consensus estimate of $1.23 by ($1.38), Zacks reports. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. During the same quarter last year, the firm posted $3.09 EPS.

Phillips 66 Price Performance

Shares of PSX stock traded down $0.48 during midday trading on Friday, reaching $120.36. 2,009,239 shares of the company traded hands, compared to its average volume of 2,778,072. The firm has a market cap of $49.71 billion, a PE ratio of 15.45, a price-to-earnings-growth ratio of 4.03 and a beta of 1.38. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The firm’s 50 day simple moving average is $120.86 and its two-hundred day simple moving average is $128.72. Phillips 66 has a 1-year low of $108.90 and a 1-year high of $174.08.

Analysts Set New Price Targets

PSX has been the topic of several recent analyst reports. Piper Sandler lowered Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Scotiabank decreased their target price on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Wells Fargo & Company cut their price objective on shares of Phillips 66 from $167.00 to $161.00 and set an “overweight” rating on the stock in a report on Monday, December 9th. Wolfe Research raised 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 research report on Friday, January 3rd. Finally, Barclays reduced their price target on shares of Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price 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.