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

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

Phillips 66 Stock Performance

Shares of NYSE PSX traded down $0.48 during mid-day trading on Friday, hitting $120.36. The stock had a trading volume of 2,009,239 shares, compared to its average volume of 2,778,072. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. Phillips 66 has a twelve month low of $108.90 and a twelve month high of $174.08. The firm has a market cap of $49.71 billion, a PE ratio of 15.45, a PEG ratio of 4.03 and a beta of 1.38. The company has a 50 day moving average of $120.86 and a two-hundred day moving average of $128.72.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on PSX shares. UBS Group reduced their price target on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Piper Sandler cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective for the company in a report on Friday, January 3rd. Wells Fargo & Company lowered their target price on Phillips 66 from $167.00 to $161.00 and set an “overweight” rating on the stock in a report on Monday, December 9th. Finally, Scotiabank reduced their price target on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price 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.