Phillips 66 (NYSE:PSX – Get Free Report) issued its earnings results on Tuesday. The oil and gas company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.33, Briefing.com reports. The business had revenue of $38.91 billion during the quarter, compared to analysts’ expectations of $37.79 billion. Phillips 66 had a net margin of 3.33% and a return on equity of 16.64%. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the previous year, the company earned $3.87 earnings per share.
Phillips 66 Stock Performance
PSX traded down $4.56 during midday trading on Thursday, reaching $140.92. The company had a trading volume of 3,315,722 shares, compared to its average volume of 2,677,338. Phillips 66 has a 1 year low of $107.41 and a 1 year high of $174.08. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.58. The company has a market cap of $59.74 billion, a P/E ratio of 10.84, a P/E/G ratio of 2.61 and a beta of 1.34. The business has a 50-day moving average of $139.17 and a two-hundred day moving average of $145.76.
Phillips 66 Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th will be given a dividend of $1.15 per share. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $4.60 annualized dividend and a yield of 3.26%. Phillips 66’s dividend payout ratio (DPR) is presently 35.38%.
Insider Activity
Analysts Set New Price Targets
Several equities research analysts recently weighed in on the stock. Barclays reduced their price target on shares of Phillips 66 from $142.00 to $136.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 9th. Mizuho lowered their price target on Phillips 66 from $162.00 to $160.00 and set a “neutral” rating on the stock in a report on Thursday, June 20th. Scotiabank reduced their price objective on Phillips 66 from $156.00 to $145.00 and set a “sector outperform” rating for the company in a report on Friday, July 12th. Piper Sandler lowered their target price on shares of Phillips 66 from $170.00 to $151.00 and set an “overweight” rating on the stock in a research note on Friday, June 14th. Finally, StockNews.com lowered shares of Phillips 66 from a “buy” rating to a “hold” rating in a research note on Monday, May 6th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $157.23.
View Our Latest Research Report on PSX
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.
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