Phillips 66 (NYSE:PSX) Releases Earnings Results, Misses Estimates By $0.52 EPS

Phillips 66 (NYSE:PSXGet Rating) posted its earnings results on Friday. The oil and gas company reported $1.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.84 by ($0.52), MarketWatch Earnings reports. Phillips 66 had a net margin of 1.15% and a return on equity of 12.11%. During the same quarter in the prior year, the firm posted ($1.16) earnings per share.

Shares of NYSE PSX opened at $86.76 on Friday. The company’s fifty day moving average is $83.06 and its 200-day moving average is $80.57. The stock has a market cap of $41.74 billion, a price-to-earnings ratio of 29.31, a P/E/G ratio of 0.91 and a beta of 1.51. Phillips 66 has a twelve month low of $63.19 and a twelve month high of $94.34. The company has a quick ratio of 0.88, a current ratio of 1.15 and a debt-to-equity ratio of 0.60.

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 1st. Stockholders of record on Tuesday, February 22nd were given a dividend of $0.92 per share. The ex-dividend date of this dividend was Friday, February 18th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 4.24%. Phillips 66’s dividend payout ratio is 124.32%.

A number of brokerages recently weighed in on PSX. TheStreet raised shares of Phillips 66 from a “c+” rating to a “b” rating in a report on Wednesday, February 23rd. Royal Bank of Canada raised their price target on shares of Phillips 66 from $97.00 to $101.00 and gave the company an “outperform” rating in a report on Tuesday, February 1st. Wells Fargo & Company raised their price target on shares of Phillips 66 from $97.00 to $103.00 and gave the company an “overweight” rating in a report on Thursday, April 21st. Bank of America raised their price target on shares of Phillips 66 from $97.00 to $104.00 and gave the company a “buy” rating in a report on Monday, January 31st. Finally, Morgan Stanley raised their price target on shares of Phillips 66 from $95.00 to $100.00 and gave the company an “equal weight” rating in a report on Wednesday, January 12th. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $96.00.

In related news, EVP Robert A. Herman sold 8,169 shares of the business’s stock in a transaction on Wednesday, February 2nd. The shares were sold at an average price of $85.87, for a total value of $701,472.03. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Greg C. Garland sold 126,300 shares of the business’s stock in a transaction on Monday, February 7th. The shares were sold at an average price of $88.47, for a total transaction of $11,173,761.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 146,469 shares of company stock worth $12,955,593. Insiders own 0.74% of the company’s stock.

A number of large investors have recently modified their holdings of the business. Parametric Portfolio Associates LLC lifted its position in Phillips 66 by 0.8% during the 4th quarter. Parametric Portfolio Associates LLC now owns 1,872,690 shares of the oil and gas company’s stock worth $135,695,000 after buying an additional 14,216 shares in the last quarter. Glenmede Trust Co. NA lifted its position in Phillips 66 by 8.9% during the 4th quarter. Glenmede Trust Co. NA now owns 185,847 shares of the oil and gas company’s stock worth $13,465,000 after buying an additional 15,157 shares in the last quarter. NewEdge Advisors LLC lifted its position in Phillips 66 by 257.2% during the 4th quarter. NewEdge Advisors LLC now owns 41,566 shares of the oil and gas company’s stock worth $3,013,000 after buying an additional 29,931 shares in the last quarter. Strategic Wealth Advisors Group LLC acquired a new position in shares of Phillips 66 during the 4th quarter worth about $853,000. Finally, JustInvest LLC increased its stake in shares of Phillips 66 by 66.1% during the 4th quarter. JustInvest LLC now owns 7,797 shares of the oil and gas company’s stock worth $565,000 after purchasing an additional 3,104 shares during the last quarter. 67.65% of the stock is currently owned by hedge funds and other institutional investors.

Phillips 66 Company Profile (Get Rating)

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 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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Earnings History for Phillips 66 (NYSE:PSX)

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