Phillips 66 (NYSE:PSX) Releases Earnings Results, Misses Estimates By $0.55 EPS

Phillips 66 (NYSE:PSX) released its earnings results on Friday. The oil and gas company reported ($0.74) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by ($0.55), MarketWatch Earnings reports. Phillips 66 had a return on equity of 14.90% and a net margin of 0.35%. During the same quarter in the previous year, the firm earned $3.02 earnings per share.

Shares of PSX opened at $62.02 on Friday. The stock has a market capitalization of $27.08 billion, a PE ratio of 7.26, a price-to-earnings-growth ratio of 6.53 and a beta of 1.60. The business’s fifty day moving average price is $67.98 and its 200 day moving average price is $73.22. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.11 and a quick ratio of 0.61. Phillips 66 has a 12-month low of $40.04 and a 12-month high of $119.92.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 5.80%. The ex-dividend date of this dividend is Monday, August 17th. Phillips 66’s dividend payout ratio is currently 44.72%.

In related news, Director John E. Lowe bought 1,500 shares of the firm’s stock in a transaction on Friday, June 26th. The stock was bought at an average cost of $68.43 per share, for a total transaction of $102,645.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gary Kramer Adams bought 1,250 shares of the business’s stock in a transaction on Tuesday, May 5th. The stock was bought at an average price of $76.40 per share, for a total transaction of $95,500.00. Following the completion of the purchase, the director now directly owns 10,213 shares of the company’s stock, valued at approximately $780,273.20. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 3,750 shares of company stock valued at $268,305. 0.63% of the stock is owned by insiders.

A number of equities research analysts have recently commented on PSX shares. Scotiabank lowered their price objective on Phillips 66 from $90.00 to $79.00 and set a “sector outperform” rating for the company in a research report on Monday, July 13th. Zacks Investment Research raised shares of Phillips 66 from a “strong sell” rating to a “hold” rating and set a $67.00 price objective for the company in a research note on Wednesday, May 27th. Credit Suisse Group increased their price objective on shares of Phillips 66 from $72.00 to $82.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. Citigroup lowered their target price on shares of Phillips 66 from $103.00 to $94.00 and set a “buy” rating for the company in a report on Thursday, July 16th. Finally, Morgan Stanley cut their price target on shares of Phillips 66 from $95.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 8th. Three analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Phillips 66 currently has a consensus rating of “Buy” and a consensus target price of $83.47.

About Phillips 66

Phillips 66 operates as an energy manufacturing and logistics company. 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 products to market; provides terminaling and storage services for crude oil and 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.

Read More: Cost of Capital

Earnings History for Phillips 66 (NYSE:PSX)

Receive News & Ratings for Phillips 66 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Phillips 66 and related companies with MarketBeat.com's FREE daily email newsletter.