Phillips 66 (NYSE:PSX) Releases Quarterly Earnings Results, Misses Estimates By $1.38 EPS

Phillips 66 (NYSE:PSX) issued its quarterly earnings data on Friday. The oil and gas company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($1.38), Zacks reports. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. During the same period last year, the business earned $3.09 earnings per share.

Phillips 66 Price Performance

Shares of NYSE PSX traded down $1.47 during mid-day trading on Friday, hitting $119.37. 2,072,319 shares of the stock traded hands, compared to its average volume of 2,783,477. The company has a market cap of $49.30 billion, a PE ratio of 15.34, a price-to-earnings-growth ratio of 4.03 and a beta of 1.38. Phillips 66 has a twelve month low of $108.90 and a twelve month high of $174.08. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The firm has a 50 day simple moving average of $120.86 and a two-hundred day simple moving average of $128.72.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Piper Sandler lowered shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Scotiabank reduced their price objective on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. UBS Group lowered their target price on Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Bank of America initiated coverage on Phillips 66 in a research report on Thursday, October 17th. They set a “buy” rating and a $156.00 price target for the company. Finally, Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target on the stock in a research report on Friday, January 3rd. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $147.93.

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.