Phillips 66 (PSX) to Release Quarterly Earnings on Friday

Phillips 66 (NYSE:PSX) will announce its earnings results before the market opens on Friday, April 26th. Analysts expect the company to announce earnings of $2.60 per share for the quarter. Individual interested in participating in the company’s earnings conference call can do so using this link.

Phillips 66 (NYSE:PSX) last posted its earnings results on Wednesday, January 31st. The oil and gas company reported $3.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.37 by $0.72. The company had revenue of $38.74 billion for the quarter, compared to analysts’ expectations of $34.30 billion. Phillips 66 had a return on equity of 22.10% and a net margin of 4.68%. On average, analysts expect Phillips 66 to post $13 EPS for the current fiscal year and $14 EPS for the next fiscal year.

Phillips 66 Stock Up 1.2 %

NYSE PSX opened at $158.90 on Wednesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.26 and a quick ratio of 1.02. The stock has a market capitalization of $67.98 billion, a PE ratio of 10.27, a PEG ratio of 1.92 and a beta of 1.37. Phillips 66 has a 1 year low of $89.74 and a 1 year high of $174.08. The business’s 50-day moving average is $154.93 and its 200 day moving average is $136.31.

Phillips 66 Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 2.89%. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date is Friday, May 17th. Phillips 66’s payout ratio is presently 27.15%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on PSX shares. The Goldman Sachs Group lifted their price objective on Phillips 66 from $152.00 to $174.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Citigroup started coverage on Phillips 66 in a research report on Wednesday, January 24th. They set a “buy” rating on the stock. Barclays lifted their price objective on Phillips 66 from $139.00 to $155.00 and gave the company an “equal weight” rating in a research report on Thursday, April 18th. Piper Sandler lifted their price objective on Phillips 66 from $169.00 to $187.00 and gave the company an “overweight” rating in a research report on Friday, April 5th. Finally, Mizuho lowered their target price on shares of Phillips 66 from $167.00 to $162.00 and set a “neutral” rating for the company in a report on Friday, April 12th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Phillips 66 has a consensus rating of “Moderate Buy” and an average price target of $158.00.

Insider Buying and Selling

In related news, Director Robert W. Pease bought 682 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was acquired at an average cost of $146.58 per share, for a total transaction of $99,967.56. Following the purchase, the director now owns 1,900 shares in the company, valued at $278,502. The acquisition was disclosed in a filing with the SEC, which is available through this link. In other news, VP Joseph Scott Pruitt sold 7,200 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $157.26, for a total transaction of $1,132,272.00. Following the completion of the sale, the vice president now owns 6,583 shares of the company’s stock, valued at approximately $1,035,242.58. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Robert W. Pease acquired 682 shares of Phillips 66 stock in a transaction dated Thursday, February 15th. The stock was bought at an average price of $146.58 per share, with a total value of $99,967.56. Following the completion of the purchase, the director now directly owns 1,900 shares in the company, valued at $278,502. The disclosure for this purchase can be found here. Insiders sold a total of 35,056 shares of company stock worth $5,272,681 in the last three months. Insiders own 0.22% of the company’s stock.

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.