Phillips 66 (PSX) Issues Earnings Results, Beats Expectations By $2.11 EPS

Phillips 66 (NYSE:PSX) released its quarterly earnings data on Friday. The oil and gas company reported $4.87 EPS for the quarter, topping analysts’ consensus estimates of $2.76 by $2.11, MarketWatch Earnings reports. Phillips 66 had a net margin of 5.72% and a return on equity of 14.97%. During the same quarter in the prior year, the company earned $1.07 EPS.

PSX traded up $1.46 on Friday, hitting $93.20. The company had a trading volume of 2,853,678 shares, compared to its average volume of 2,668,557. The firm has a market cap of $43.54 billion, a P/E ratio of 21.28, a P/E/G ratio of 1.29 and a beta of 0.94. Phillips 66 has a 12-month low of $78.44 and a 12-month high of $123.97. The company has a current ratio of 1.28, a quick ratio of 0.82 and a debt-to-equity ratio of 0.43.

The business also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Tuesday, February 19th will be given a $0.80 dividend. The ex-dividend date is Friday, February 15th. This represents a $3.20 annualized dividend and a yield of 3.43%. Phillips 66’s dividend payout ratio is currently 73.06%.



A number of analysts recently commented on PSX shares. Jefferies Financial Group raised shares of Phillips 66 from an “underperform” rating to a “hold” rating and set a $108.00 price objective on the stock in a report on Tuesday, October 16th. Wells Fargo & Co boosted their price objective on shares of Phillips 66 from $137.00 to $140.00 and gave the stock a “buy” rating in a report on Monday, October 29th. Raymond James decreased their price objective on shares of Phillips 66 from $139.00 to $135.00 and set an “outperform” rating on the stock in a report on Monday, October 29th. JPMorgan Chase & Co. raised shares of Phillips 66 from a “neutral” rating to an “overweight” rating and set a $138.00 price objective on the stock in a report on Tuesday, October 30th. They noted that the move was a valuation call. Finally, Zacks Investment Research reissued a “buy” rating and set a $113.00 price objective on shares of Phillips 66 in a report on Wednesday, November 14th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company. Phillips 66 currently has an average rating of “Hold” and an average target price of $123.62.

In related news, Director J Brian Ferguson purchased 21,500 shares of the company’s stock in a transaction that occurred on Tuesday, November 20th. The stock was bought at an average price of $92.31 per share, for a total transaction of $1,984,665.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.56% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PSX. Investec Asset Management LTD raised its position in Phillips 66 by 6.3% during the 4th quarter. Investec Asset Management LTD now owns 303,939 shares of the oil and gas company’s stock valued at $26,184,000 after purchasing an additional 17,953 shares during the last quarter. Public Employees Retirement Association of Colorado raised its position in shares of Phillips 66 by 36.9% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 959,273 shares of the oil and gas company’s stock worth $82,641,000 after acquiring an additional 258,467 shares in the last quarter. Sandy Spring Bank raised its position in shares of Phillips 66 by 1.9% in the 4th quarter. Sandy Spring Bank now owns 11,306 shares of the oil and gas company’s stock worth $974,000 after acquiring an additional 206 shares in the last quarter. Lakeview Capital Partners LLC raised its position in shares of Phillips 66 by 16.2% in the 4th quarter. Lakeview Capital Partners LLC now owns 3,416 shares of the oil and gas company’s stock worth $294,000 after acquiring an additional 476 shares in the last quarter. Finally, Norinchukin Bank The raised its position in shares of Phillips 66 by 41.0% in the 4th quarter. Norinchukin Bank The now owns 78,617 shares of the oil and gas company’s stock worth $6,773,000 after acquiring an additional 22,880 shares in the last quarter. Institutional investors own 69.45% of the company’s stock.

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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, and provides terminaling and storage services for crude oil and petroleum products; transports, stores, fractionates, and markets natural gas liquids, exports LPG, and provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.

Further Reading: Mutual Funds

Earnings History for Phillips 66 (NYSE:PSX)

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