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

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

Phillips 66 Stock Down 3.6 %

Shares of PSX stock opened at $151.52 on Friday. Phillips 66 has a 12 month low of $89.74 and a 12 month high of $174.08. The firm has a market cap of $64.82 billion, a PE ratio of 9.79, a price-to-earnings-growth ratio of 1.90 and a beta of 1.37. The stock has a 50 day moving average of $155.55 and a 200-day moving average of $136.88. The company has a quick ratio of 1.02, a current ratio of 1.26 and a debt-to-equity ratio of 0.56.

Phillips 66 Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be issued a $1.15 dividend. This is a positive change from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 annualized dividend and a yield of 3.04%. The ex-dividend date of this dividend is Friday, May 17th. Phillips 66’s payout ratio is 27.15%.

Insider Transactions at Phillips 66

In other news, EVP Richard G. Harbison sold 21,934 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now directly owns 24,941 shares in the company, valued at $3,648,120.07. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP Richard G. Harbison sold 21,934 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $146.27, for a total value of $3,208,286.18. Following the completion of the transaction, the executive vice president now directly owns 24,941 shares in the company, valued at $3,648,120.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Joseph Scott Pruitt sold 5,922 shares of the company’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $157.40, for a total value of $932,122.80. Following the completion of the transaction, the vice president now owns 6,583 shares of the company’s stock, valued at $1,036,164.20. The disclosure for this sale can be found here. Insiders sold a total of 35,056 shares of company stock worth $5,272,681 over the last three months. 0.22% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. raised their price target on Phillips 66 from $149.00 to $167.00 and gave the company an “overweight” rating in a report on Monday, April 1st. Piper Sandler boosted their price target on shares of Phillips 66 from $169.00 to $187.00 and gave the stock an “overweight” rating in a research report on Friday, April 5th. Mizuho dropped their price target on shares of Phillips 66 from $167.00 to $162.00 and set a “neutral” rating on the stock in a research report on Friday, April 12th. StockNews.com cut shares of Phillips 66 from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Bank of America boosted their price target on shares of Phillips 66 from $150.00 to $180.00 and gave the stock a “neutral” rating in a research report on Friday, March 15th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $158.00.

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.