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

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

Phillips 66 Stock Performance

NYSE PSX opened at $151.41 on Friday. Phillips 66 has a 52-week low of $89.74 and a 52-week high of $174.08. 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 company has a market capitalization of $64.78 billion, a P/E ratio of 11.65, a P/E/G ratio of 1.83 and a beta of 1.37. The company has a fifty day moving average of $155.55 and a 200-day moving average of $137.06.

Phillips 66 Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be issued a dividend of $1.15 per share. 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 dividend yield of 3.04%. The ex-dividend date is Friday, May 17th. Phillips 66’s payout ratio is currently 32.31%.

Insider Transactions at Phillips 66

In other news, EVP Richard G. Harbison sold 21,934 shares of Phillips 66 stock in a transaction 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 completion of the sale, the executive vice president now directly owns 24,941 shares of the company’s stock, valued at approximately $3,648,120.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Phillips 66 news, EVP Richard G. Harbison sold 21,934 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $146.27, for a total value of $3,208,286.18. Following the completion of the sale, the executive vice president now directly owns 24,941 shares of the company’s stock, valued at $3,648,120.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert W. Pease purchased 682 shares of the stock in a transaction 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 completion of 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 valued at $5,272,681. Insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PSX. Piper Sandler lifted their price objective on shares of Phillips 66 from $169.00 to $187.00 and gave the company an “overweight” rating in a research note on Friday, April 5th. Barclays lifted their price objective on shares of Phillips 66 from $139.00 to $155.00 and gave the company an “equal weight” rating in a research note on Thursday, April 18th. Citigroup began coverage on shares of Phillips 66 in a research note on Wednesday, January 24th. They issued a “buy” rating for the company. Raymond James lifted their price objective on shares of Phillips 66 from $140.00 to $155.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. Finally, Bank of America lifted their price objective on shares of Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a research note on Friday, March 15th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.