Phillips 66 (PSX) Set to Announce Earnings on Tuesday

Phillips 66 (NYSE:PSX - Get Free Report) is scheduled to be announcing its earnings results before the market opens on Tuesday, October 29th. Analysts expect the company to announce earnings of $2.54 per share for the quarter. Investors that are interested in registering for the company's conference call can do so using this link.

Phillips 66 (NYSE:PSX - Get Free Report) last released its quarterly 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. The business had revenue of $38.91 billion during the quarter, compared to analysts' expectations of $37.79 billion. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The company's quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.87 earnings per share. 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 1.0 %

Shares of NYSE:PSX opened at $131.32 on Tuesday. Phillips 66 has a fifty-two week low of $107.85 and a fifty-two week high of $174.08. The firm's 50-day simple moving average is $133.09 and its 200-day simple moving average is $139.92. The company has a market cap of $55.67 billion, a price-to-earnings ratio of 10.10, a PEG ratio of 5.75 and a beta of 1.33. The company has a quick ratio of 0.79, a current ratio of 1.14 and a debt-to-equity ratio of 0.56.

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date of this dividend is Monday, November 18th. Phillips 66's dividend payout ratio is currently 35.38%.

Insider Activity at Phillips 66

In related news, CFO Kevin J. Mitchell sold 30,000 shares of the business's stock in a transaction that occurred on 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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.22% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Bank of America assumed coverage on shares of Phillips 66 in a research report on Thursday, October 17th. They issued a "buy" rating and a $156.00 price objective for the company. Barclays decreased their target price on Phillips 66 from $138.00 to $133.00 and set an "equal weight" rating for the company in a report on Tuesday, October 8th. Piper Sandler set a $144.00 price target on Phillips 66 in a report on Thursday. Morgan Stanley reduced their target price on shares of Phillips 66 from $150.00 to $144.00 and set an "equal weight" rating on the stock in a research report on Monday, September 16th. Finally, Scotiabank reduced their target price on 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. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $149.50.

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.