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

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

Phillips 66 Stock Down 3.7 %

Shares of PSX stock traded down $5.83 during trading hours on Friday, reaching $151.41. The company had a trading volume of 4,206,800 shares, 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. Phillips 66 has a twelve month low of $89.74 and a twelve month high of $174.08. The company has a market capitalization of $64.78 billion, a P/E ratio of 11.65, a price-to-earnings-growth ratio of 1.83 and a beta of 1.37. The stock’s fifty day simple moving average is $155.55 and its 200 day simple moving average is $137.06.

Phillips 66 Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be paid a $1.15 dividend. The ex-dividend date is Friday, May 17th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.04%. This is a positive change from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s dividend payout ratio (DPR) is 32.31%.

Insider Activity at Phillips 66

In related news, EVP Richard G. Harbison sold 21,934 shares of the stock in a transaction dated 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 owns 24,941 shares of the company’s stock, valued at $3,648,120.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Richard G. Harbison sold 21,934 shares of the stock in a transaction dated 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 owns 24,941 shares of the company’s stock, valued at $3,648,120.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Joseph Scott Pruitt sold 5,922 shares of the stock in a transaction dated 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 directly owns 6,583 shares of the company’s stock, valued at approximately $1,036,164.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,056 shares of company stock valued at $5,272,681. Insiders own 0.22% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on PSX. Piper Sandler upped their target price on Phillips 66 from $169.00 to $187.00 and gave the company an “overweight” rating in a research note on Friday, April 5th. Wells Fargo & Company upped their price target on Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Mizuho dropped their price target on Phillips 66 from $167.00 to $162.00 and set a “neutral” rating for the company in a research note on Friday, April 12th. Raymond James upped their price target on Phillips 66 from $140.00 to $155.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. Finally, JPMorgan Chase & Co. upped their price target on Phillips 66 from $149.00 to $167.00 and gave the stock an “overweight” rating in a research note on Monday, April 1st. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus 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.