Phillips 66 (NYSE:PSX) announced its quarterly earnings data on Friday. The oil and gas company reported ($0.74) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.19) by ($0.55), MarketWatch Earnings reports. The firm had revenue of $11.18 billion during the quarter, compared to analysts’ expectations of $14.92 billion. Phillips 66 had a net margin of 0.35% and a return on equity of 14.90%. During the same period in the prior year, the company posted $3.02 EPS.
Shares of NYSE:PSX opened at $62.02 on Friday. The firm’s 50 day moving average price is $67.98 and its 200 day moving average price is $73.22. The stock has a market cap of $27.08 billion, a price-to-earnings ratio of 12.58, a price-to-earnings-growth ratio of 6.42 and a beta of 1.60. Phillips 66 has a fifty-two week low of $40.04 and a fifty-two week high of $119.92. The company has a quick ratio of 0.61, a current ratio of 1.11 and a debt-to-equity ratio of 0.45.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be issued a $0.90 dividend. The ex-dividend date of this dividend is Monday, August 17th. This represents a $3.60 annualized dividend and a yield of 5.80%. Phillips 66’s dividend payout ratio (DPR) is 44.72%.
In related news, Director John E. Lowe acquired 1,500 shares of the business’s stock in a transaction on Friday, June 26th. The shares were bought at an average price of $68.43 per share, with a total value of $102,645.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gary Kramer Adams acquired 1,250 shares of the business’s stock in a transaction on Tuesday, May 5th. The shares were bought at an average cost of $76.40 per share, for a total transaction of $95,500.00. Following the acquisition, the director now 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 ninety days, insiders purchased 3,750 shares of company stock worth $268,305. 0.63% of the stock is owned by corporate insiders.
PSX has been the subject of several research analyst reports. Jefferies Financial Group raised shares of Phillips 66 from a “hold” rating to a “buy” rating and set a $73.00 target price for the company in a research note on Monday, July 20th. Credit Suisse Group increased their target price on shares of Phillips 66 from $72.00 to $82.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. Morgan Stanley lowered their target price on shares of Phillips 66 from $95.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, July 8th. Wells Fargo & Co cut shares of Phillips 66 from an “overweight” rating to an “equal weight” rating and set a $34.00 price target on the stock. in a research report on Wednesday, July 22nd. Finally, Citigroup reduced their price target on shares of Phillips 66 from $103.00 to $94.00 and set a “buy” rating on the stock in a research report on Thursday, July 16th. Three equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Phillips 66 has an average rating of “Buy” and an average price target of $83.47.
Phillips 66 Company Profile
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.
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