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

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

Phillips 66 Trading Down 3.7 %

PSX traded down $5.83 during trading on Friday, hitting $151.41. 4,206,800 shares of the stock were exchanged, compared to its average volume of 2,131,287. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.02 and a current ratio of 1.26. The firm has a 50 day simple moving average of $155.55 and a 200 day simple moving average of $137.06. The firm has a market cap of $64.78 billion, a price-to-earnings ratio of 11.65, a P/E/G ratio of 1.83 and a beta of 1.37. Phillips 66 has a 1 year low of $89.74 and a 1 year high of $174.08.

Phillips 66 Increases Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on PSX shares. Wells Fargo & Company boosted their price objective on Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. StockNews.com downgraded Phillips 66 from a “buy” rating to a “hold” rating in a research report on Saturday. JPMorgan Chase & Co. increased their target price on shares of Phillips 66 from $149.00 to $167.00 and gave the company an “overweight” rating in a research note on Monday, April 1st. Barclays lifted their price target on shares of Phillips 66 from $139.00 to $155.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 18th. Finally, Citigroup began coverage on shares of Phillips 66 in a research report on Wednesday, January 24th. They issued a “buy” rating on the stock. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, Phillips 66 currently has an average rating of “Moderate Buy” and an average price target of $158.00.

Insiders Place Their Bets

In other news, EVP Richard G. Harbison sold 21,934 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now owns 24,941 shares in the company, valued at $3,648,120.07. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Richard G. Harbison sold 21,934 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were 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 directly owns 24,941 shares in the company, valued at $3,648,120.07. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Robert W. Pease acquired 682 shares of Phillips 66 stock in a transaction that occurred on Thursday, February 15th. The stock was acquired at an average cost of $146.58 per share, with a total value of $99,967.56. Following the purchase, the director now directly owns 1,900 shares of the company’s stock, valued at $278,502. The disclosure for this purchase 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.