Phillips 66 operates as an energy manufacturing and logistics company. 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. The Chemicals segment produces and markets ethylene and other olefin products; aromatics and styrenics products, such as benzene, cyclohexane, styrene, and polystyrene; and various specialty chemical products, including organosulfur chemicals, solvents, catalysts, and chemicals used in drilling and mining. The Refining segment refines crude oil and other feedstocks into petroleum products, such as gasolines, distillates, aviation, and renewable fuels at 12 refineries in the United States and Europe. The M&S segment purchases for resale and markets refined petroleum products, including gasolines, distillates, and aviation fuels primarily in the United States and Europe. This segment also manufactures and markets specialty products, such as base oils and lubricants. The company was founded in 1875 and is headquartered in Houston, Texas.
Wall Street Analysts Forecast Growth
PSX has been the topic of a number of research analyst reports. The Goldman Sachs Group reissued a "buy" rating and issued a $109.00 price target on shares of Phillips 66 in a report on Friday, July 1st. Barclays raised their target price on shares of Phillips 66 from $95.00 to $113.00 and gave the company an "overweight" rating in a research note on Wednesday, July 6th. Citigroup initiated coverage on shares of Phillips 66 in a report on Tuesday, April 26th. They set a "neutral" rating and a $89.00 price objective for the company. JPMorgan Chase & Co. lifted their target price on Phillips 66 from $102.00 to $112.00 in a report on Tuesday, May 17th. Finally, Wells Fargo & Company increased their price target on Phillips 66 from $114.00 to $127.00 and gave the company an "overweight" rating in a research note on Tuesday, June 14th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $108.29.
Phillips 66 Price Performance
Phillips 66 stock opened at $85.63 on Thursday. The stock has a market cap of $41.19 billion, a price-to-earnings ratio of 7.38, a price-to-earnings-growth ratio of 0.45 and a beta of 1.42. The firm has a 50-day moving average of $89.79 and a two-hundred day moving average of $87.93. Phillips 66 has a 1 year low of $63.19 and a 1 year high of $111.28. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.28 and a quick ratio of 1.02.
Phillips 66 (NYSE:PSX - Get Rating) last announced its quarterly earnings data on Friday, July 29th. The oil and gas company reported $6.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.92 by $0.85. The company had revenue of $49.31 billion for the quarter, compared to analysts' expectations of $40.93 billion. Phillips 66 had a return on equity of 29.60% and a net margin of 3.59%. Phillips 66's revenue was up 76.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.74 earnings per share. On average, research analysts forecast that Phillips 66 will post 16.15 earnings per share for the current year.
Phillips 66 Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Thursday, August 18th will be paid a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a yield of 4.53%. The ex-dividend date is Wednesday, August 17th. Phillips 66's dividend payout ratio (DPR) is presently 33.42%.
Insiders Place Their Bets
In other news, EVP Robert A. Herman sold 47,200 shares of the business's stock in a transaction dated Tuesday, May 31st. The shares were sold at an average price of $102.82, for a total value of $4,853,104.00. Following the completion of the sale, the executive vice president now owns 64,106 shares in the company, valued at approximately $6,591,378.92. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, VP Paula Ann Johnson sold 44,700 shares of the company's stock in a transaction on Tuesday, June 7th. The stock was sold at an average price of $108.91, for a total transaction of $4,868,277.00. Following the completion of the sale, the vice president now directly owns 102,489 shares in the company, valued at approximately $11,162,076.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Robert A. Herman sold 47,200 shares of Phillips 66 stock in a transaction dated Tuesday, May 31st. The shares were sold at an average price of $102.82, for a total value of $4,853,104.00. Following the completion of the transaction, the executive vice president now owns 64,106 shares in the company, valued at approximately $6,591,378.92. The disclosure for this sale can be found here. Insiders have sold a total of 297,700 shares of company stock worth $32,327,782 in the last three months. Corporate insiders own 0.74% of the company's stock.
