Phillips 66 (NYSE:PSX) Releases Quarterly Earnings Results, Beats Estimates By $0.41 EPS

Phillips 66 (NYSE:PSX) issued 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. The firm had revenue of $36.16 billion during the quarter, compared to the consensus estimate of $36.31 billion. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The company’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.63 earnings per share.

Phillips 66 Price Performance

Shares of PSX opened at $123.82 on Wednesday. The stock has a market cap of $51.83 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. Phillips 66 has a fifty-two week low of $110.54 and a fifty-two week high of $174.08. The firm’s 50-day simple moving average is $132.04 and its two-hundred day simple moving average is $138.32.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date is Monday, November 18th. Phillips 66’s dividend payout ratio (DPR) is presently 39.45%.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a research note on Wednesday, October 2nd. Morgan Stanley lowered their price objective on shares of 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. Scotiabank decreased their price target on shares of 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. Mizuho decreased their price target on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Finally, Barclays decreased their price target 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 analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Phillips 66 has an average rating of “Moderate Buy” and a consensus target price of $149.50.

Insiders Place Their Bets

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the sale, the chief financial officer now owns 81,937 shares in the company, valued at $11,390,062.37. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.22% of the company’s stock.

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.