Phillips 66 (PSX) Set to Announce Quarterly Earnings on Tuesday

Phillips 66 (NYSE:PSX) is scheduled to post its quarterly earnings results before the market opens on Tuesday, October 29th. Analysts expect Phillips 66 to post earnings of $2.54 per share for the quarter. Persons interested in registering for the company’s earnings conference call can do so using this link.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.33. The firm had revenue of $38.91 billion during the quarter, compared to analysts’ expectations of $37.79 billion. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. Phillips 66’s revenue was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.87 EPS. On average, analysts expect Phillips 66 to post $8 EPS for the current fiscal year and $10 EPS for the next fiscal year.

Phillips 66 Stock Down 0.2 %

NYSE PSX opened at $128.17 on Monday. The stock has a market capitalization of $54.34 billion, a P/E ratio of 9.86, a price-to-earnings-growth ratio of 5.61 and a beta of 1.33. Phillips 66 has a 52 week low of $107.85 and a 52 week high of $174.08. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.79 and a current ratio of 1.14. The stock has a fifty day moving average of $132.43 and a 200-day moving average of $138.85.

Phillips 66 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be issued a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 3.59%. The ex-dividend date is Monday, November 18th. Phillips 66’s dividend payout ratio is 35.38%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Wells Fargo & Company reduced their target price on shares of Phillips 66 from $182.00 to $167.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 9th. Wolfe Research began coverage on shares of Phillips 66 in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Barclays dropped their target price on shares of Phillips 66 from $138.00 to $133.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 8th. Piper Sandler set a $144.00 price target on Phillips 66 in a research note on Thursday, October 17th. Finally, Morgan Stanley decreased their price objective on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $149.50.

Insider Activity

In related news, CFO Kevin J. Mitchell sold 30,000 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the completion of the sale, the chief financial officer now directly owns 81,937 shares of the company’s stock, valued at approximately $11,390,062.37. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.22% of the stock is currently owned by company insiders.

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.