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 Analyst Weigh In
A number of analysts have weighed in on the stock. StockNews.com raised shares of Phillips 66 from a "buy" rating to a "strong-buy" rating in a report on Monday, August 1st. Wells Fargo & Company lifted their target price on shares of Phillips 66 from $114.00 to $127.00 and gave the company an "overweight" rating in a report on Tuesday, June 14th. JPMorgan Chase & Co. lifted their target price on shares of Phillips 66 from $102.00 to $112.00 in a report on Tuesday, May 17th. Credit Suisse Group lifted their target price on shares of Phillips 66 to $122.00 in a report on Thursday, June 9th. Finally, Barclays lifted their target price on shares of Phillips 66 from $95.00 to $113.00 and gave the company an "overweight" rating in a report on Wednesday, July 6th. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Phillips 66 presently has a consensus rating of "Moderate Buy" and a consensus target price of $108.29.
Phillips 66 Stock Performance
NYSE:PSX traded up $1.11 during midday trading on Friday, reaching $83.76. The stock had a trading volume of 1,796,206 shares, compared to its average volume of 3,001,298. The stock has a market cap of $40.29 billion, a P/E ratio of 7.21, a P/E/G ratio of 0.45 and a beta of 1.41. Phillips 66 has a 12-month low of $63.19 and a 12-month high of $111.28. The firm has a fifty day simple moving average of $90.45 and a two-hundred day simple moving average of $87.93. The company has a quick ratio of 0.87, a current ratio of 1.28 and a debt-to-equity ratio of 0.51.
Phillips 66 (NYSE:PSX - Get Rating) last issued its earnings results on Friday, July 29th. The oil and gas company reported $6.77 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 analyst estimates of $40.93 billion. Phillips 66 had a net margin of 3.59% and a return on equity of 29.60%. The business's revenue was up 76.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.74 EPS. On average, equities analysts expect that Phillips 66 will post 16.15 EPS for the current year.
Phillips 66 Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Shareholders of record on Thursday, August 18th will be given a dividend of $0.97 per share. The ex-dividend date of this dividend is Wednesday, August 17th. This represents a $3.88 annualized dividend and a dividend yield of 4.63%. Phillips 66's payout ratio is currently 33.42%.
Insider Buying and Selling
In related news, CEO Greg C. Garland sold 146,700 shares of the business's stock in a transaction dated Thursday, June 9th. The shares were sold at an average price of $109.70, for a total value of $16,092,990.00. Following the sale, the chief executive officer now directly owns 656,563 shares in the company, valued at approximately $72,024,961.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related 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 transaction, the executive vice president now owns 64,106 shares of the company's stock, valued at approximately $6,591,378.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Greg C. Garland sold 146,700 shares of the business's stock in a transaction dated Thursday, June 9th. The shares were sold at an average price of $109.70, for a total transaction of $16,092,990.00. Following the completion of the transaction, the chief executive officer now directly owns 656,563 shares of the company's stock, valued at approximately $72,024,961.10. The disclosure for this sale can be found here. Insiders have sold 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.
