Phillips 66 (NYSE:PSX) issued its quarterly earnings results on Friday, October 27th. The oil and gas company reported $1.66 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.62 by $0.04, Bloomberg Earnings reports. Phillips 66 had a return on equity of 7.58% and a net margin of 2.11%. The company had revenue of $26.21 billion for the quarter, compared to analyst estimates of $29.94 billion. During the same quarter last year, the company posted $1.05 EPS.
Phillips 66 (PSX) traded down $0.76 on Friday, reaching $93.66. The company had a trading volume of 1,347,700 shares, compared to its average volume of 1,950,602. The company has a current ratio of 1.31, a quick ratio of 0.86 and a debt-to-equity ratio of 0.40. Phillips 66 has a 1-year low of $75.14 and a 1-year high of $95.00. The company has a market capitalization of $47,908.12, a PE ratio of 26.99, a PEG ratio of 2.41 and a beta of 1.20.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Tuesday, October 17th will be issued a $0.70 dividend. The ex-dividend date is Thursday, November 16th. This represents a $2.80 annualized dividend and a dividend yield of 2.99%. Phillips 66’s payout ratio is currently 70.18%.
Phillips 66 declared that its board has approved a share buyback plan on Monday, October 9th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the oil and gas company to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
In other Phillips 66 news, VP Chukwuemeka A. Oyolu sold 1,151 shares of the company’s stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $89.08, for a total transaction of $102,531.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.50% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Zeke Capital Advisors LLC boosted its holdings in shares of Phillips 66 by 79.2% during the third quarter. Zeke Capital Advisors LLC now owns 7,597 shares of the oil and gas company’s stock worth $696,000 after purchasing an additional 3,358 shares during the period. Amalgamated Bank lifted its holdings in Phillips 66 by 1.6% in the third quarter. Amalgamated Bank now owns 49,970 shares of the oil and gas company’s stock worth $4,578,000 after buying an additional 804 shares during the period. Johnson Financial Group Inc. lifted its holdings in Phillips 66 by 15.3% in the third quarter. Johnson Financial Group Inc. now owns 26,631 shares of the oil and gas company’s stock worth $2,440,000 after buying an additional 3,532 shares during the period. Hartland & Co. LLC lifted its holdings in Phillips 66 by 78.7% in the third quarter. Hartland & Co. LLC now owns 13,153 shares of the oil and gas company’s stock worth $1,205,000 after buying an additional 5,793 shares during the period. Finally, Trexquant Investment LP purchased a new stake in Phillips 66 in the third quarter worth about $1,832,000. Institutional investors own 69.64% of the company’s stock.
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Several equities analysts have recently issued reports on the company. Barclays PLC reissued an “equal weight” rating and set a $89.00 price objective (up previously from $87.00) on shares of Phillips 66 in a report on Wednesday, August 2nd. Vetr downgraded Phillips 66 from a “buy” rating to a “hold” rating and set a $97.16 target price on the stock. in a report on Thursday, November 2nd. Howard Weil raised Phillips 66 from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $86.00 to $98.00 in a research report on Thursday, September 28th. Piper Jaffray Companies reissued a “buy” rating and issued a $98.00 price objective on shares of Phillips 66 in a research report on Tuesday, September 26th. Finally, BidaskClub lowered Phillips 66 from a “hold” rating to a “sell” rating in a research report on Friday, August 18th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $93.33.
About Phillips 66
Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining, and marketing and specialties businesses. The Company operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment gathers, processes, transports and markets natural gas, and transports, stores, fractionates and markets natural gas liquids (NGLs) in the United States.
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