Phillips 66 (NYSE:PSX) Posts Quarterly Earnings Results, Misses Expectations By $0.15 EPS

Phillips 66 (NYSE:PSX) released its quarterly earnings data on Friday. The oil and gas company reported $1.90 earnings per share for the quarter, missing the consensus estimate of $2.05 by ($0.15), Briefing.com reports. The firm had revenue of $36.44 billion during the quarter, compared to the consensus estimate of $35.87 billion. Phillips 66 had a net margin of 4.68% and a return on equity of 22.10%. During the same quarter in the previous year, the firm earned $4.21 earnings per share.

Phillips 66 Stock Performance

NYSE:PSX traded down $5.83 during trading hours on Friday, reaching $151.41. The company had a trading volume of 4,206,800 shares, compared to its average volume of 2,131,287. The firm has a market cap of $64.78 billion, a PE ratio of 11.65, a price-to-earnings-growth ratio of 1.83 and a beta of 1.37. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.26 and a quick ratio of 1.02. Phillips 66 has a 1-year low of $89.74 and a 1-year high of $174.08. The business’s 50 day moving average price is $155.55 and its 200-day moving average price is $137.06.

Phillips 66 Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be issued a $1.15 dividend. The ex-dividend date of this dividend is Friday, May 17th. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 dividend on an annualized basis and a yield of 3.04%. Phillips 66’s payout ratio is presently 32.31%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Mizuho decreased their price objective on Phillips 66 from $167.00 to $162.00 and set a “neutral” rating for the company in a report on Friday, April 12th. The Goldman Sachs Group lifted their target price on Phillips 66 from $152.00 to $174.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Bank of America boosted their price target on Phillips 66 from $150.00 to $180.00 and gave the stock a “neutral” rating in a research note on Friday, March 15th. Citigroup assumed coverage on Phillips 66 in a research note on Wednesday, January 24th. They set a “buy” rating on the stock. Finally, Wells Fargo & Company lifted their target price on Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $158.00.

Insider Transactions at Phillips 66

In other news, VP Joseph Scott Pruitt sold 7,200 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $157.26, for a total transaction of $1,132,272.00. Following the completion of the transaction, the vice president now directly owns 6,583 shares in the company, valued at approximately $1,035,242.58. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Richard G. Harbison sold 21,934 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the transaction, the executive vice president now owns 24,941 shares of the company’s stock, valued at approximately $3,648,120.07. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Joseph Scott Pruitt sold 7,200 shares of the stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $157.26, for a total value of $1,132,272.00. Following the transaction, the vice president now directly owns 6,583 shares in the company, valued at approximately $1,035,242.58. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,056 shares of company stock worth $5,272,681. 0.22% of the stock is currently owned by company insiders.

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.