Phillips 66 (NYSE:PSX) Issues Earnings Results

Phillips 66 (NYSE:PSX) issued its earnings results on Friday. The oil and gas company reported $4.63 earnings per share for the quarter, missing analysts’ consensus estimates of $4.78 by ($0.15), RTT News reports. Phillips 66 had a return on equity of 23.08% and a net margin of 5.05%. During the same quarter in the prior year, the business posted $6.46 EPS.

Phillips 66 Trading Up 0.8 %

NYSE:PSX opened at $110.93 on Monday. The company has a fifty day moving average of $115.89 and a 200 day moving average of $105.81. Phillips 66 has a 52 week low of $89.74 and a 52 week high of $125.19. The company has a quick ratio of 0.90, a current ratio of 1.33 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $49.40 billion, a P/E ratio of 6.69, a P/E/G ratio of 0.37 and a beta of 1.33.

Phillips 66 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 17th will be issued a dividend of $1.05 per share. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $4.20 dividend on an annualized basis and a yield of 3.79%. Phillips 66’s dividend payout ratio is currently 25.33%.

Insiders Place Their Bets

In other Phillips 66 news, CFO Kevin J. Mitchell sold 9,900 shares of the company’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $115.00, for a total value of $1,138,500.00. Following the completion of the transaction, the chief financial officer now directly owns 103,803 shares in the company, valued at approximately $11,937,345. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Chairman Greg C. Garland sold 169,400 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $111.44, for a total value of $18,877,936.00. Following the sale, the chairman now directly owns 662,366 shares of the company’s stock, valued at approximately $73,814,067.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kevin J. Mitchell sold 9,900 shares of the company’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $115.00, for a total transaction of $1,138,500.00. Following the completion of the sale, the chief financial officer now directly owns 103,803 shares in the company, valued at $11,937,345. The disclosure for this sale can be found here. In the last ninety days, insiders sold 360,648 shares of company stock worth $41,396,371. 4.57% of the stock is currently owned by corporate insiders.

Institutional Trading of Phillips 66

Several institutional investors have recently bought and sold shares of the company. Wells Fargo & Company MN grew its position in Phillips 66 by 0.6% during the 2nd quarter. Wells Fargo & Company MN now owns 17,121,154 shares of the oil and gas company’s stock valued at $1,633,016,000 after purchasing an additional 97,198 shares during the last quarter. Moneta Group Investment Advisors LLC grew its position in Phillips 66 by 100,843.8% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 9,979,304 shares of the oil and gas company’s stock valued at $1,038,646,000 after purchasing an additional 9,969,418 shares during the last quarter. Barclays PLC grew its position in Phillips 66 by 416.9% during the 2nd quarter. Barclays PLC now owns 7,451,470 shares of the oil and gas company’s stock valued at $710,721,000 after purchasing an additional 6,009,826 shares during the last quarter. Wellington Management Group LLP grew its position in Phillips 66 by 62.1% during the 1st quarter. Wellington Management Group LLP now owns 7,188,087 shares of the oil and gas company’s stock valued at $620,979,000 after purchasing an additional 2,753,700 shares during the last quarter. Finally, Morgan Stanley lifted its stake in Phillips 66 by 16.2% during the 4th quarter. Morgan Stanley now owns 6,961,625 shares of the oil and gas company’s stock valued at $724,566,000 after acquiring an additional 968,055 shares during the period. 71.83% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Argus increased their target price on shares of Phillips 66 from $125.00 to $134.00 and gave the stock a “buy” rating in a research report on Monday, August 14th. StockNews.com began coverage on shares of Phillips 66 in a research report on Thursday, October 5th. They set a “hold” rating for the company. Bank of America raised their price objective on shares of Phillips 66 from $141.00 to $143.00 and gave the company a “neutral” rating in a research report on Monday, September 18th. The Goldman Sachs Group raised their price objective on shares of Phillips 66 from $125.00 to $141.00 and gave the company a “buy” rating in a research report on Friday, September 1st. Finally, Wells Fargo & Company raised their price objective on shares of Phillips 66 from $130.00 to $144.00 and gave the company an “overweight” rating in a research report on Friday, September 8th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $129.93.

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.