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

Phillips 66 (NYSE:PSX) announced its earnings results on Friday. The oil and gas company reported ($0.15) earnings per share 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 in the previous year, the company earned $3.09 earnings per share.

Phillips 66 Price Performance

PSX opened at $117.24 on Friday. Phillips 66 has a 52-week low of $108.90 and a 52-week high of $174.08. The company has a 50 day moving average of $120.86 and a two-hundred day moving average of $128.72. The company has a market cap of $48.42 billion, a P/E ratio of 15.05, a P/E/G ratio of 4.03 and a beta of 1.38. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PSX. UBS Group reduced their price objective on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Wolfe Research upgraded shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective for the company in a research note on Friday, January 3rd. Piper Sandler lowered shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Bank of America started coverage on shares of Phillips 66 in a research note on Thursday, October 17th. They issued a “buy” rating and a $156.00 price objective on the stock. Finally, Wells Fargo & Company cut their target price on shares of Phillips 66 from $167.00 to $161.00 and set an “overweight” rating for the company in a research report on Monday, December 9th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $147.93.

About Phillips 66

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.