Phillips 66 (PSX) to Release Earnings on Tuesday

Phillips 66 (NYSE:PSX) will issue its quarterly earnings data before the market opens on Tuesday, October 29th. Analysts expect the company to announce earnings of $2.54 per share for the quarter. Persons that are interested in participating in the company’s earnings conference call can do so using this link.

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

Shares of PSX stock opened at $128.17 on Monday. The firm’s fifty day moving average price is $132.43 and its two-hundred day moving average price is $138.85. The company has a current ratio of 1.14, a quick ratio of 0.79 and a debt-to-equity ratio of 0.56. Phillips 66 has a 1 year low of $107.85 and a 1 year high of $174.08. The firm has a market capitalization of $54.34 billion, a P/E ratio of 9.86, a PEG ratio of 5.61 and a beta of 1.33.

Phillips 66 Announces Dividend

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

Analyst Ratings Changes

Several research analysts have recently weighed in on PSX shares. Scotiabank lowered their price objective on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Bank of America began coverage on shares of Phillips 66 in a research report on Thursday, October 17th. They set a “buy” rating and a $156.00 price target on the stock. Barclays cut their price target on Phillips 66 from $138.00 to $133.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 8th. Morgan Stanley lowered their price objective on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. Finally, Wolfe Research assumed coverage on Phillips 66 in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Phillips 66 has an average rating of “Moderate Buy” and a consensus price target of $149.50.

Insider Buying and Selling

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $139.01, for a total value of $4,170,300.00. Following the completion of the sale, the chief financial officer now owns 81,937 shares of the company’s stock, valued at approximately $11,390,062.37. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.22% of the stock is currently owned by insiders.

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.