Phillips 66 (PSX) Releases Earnings Results, Misses Expectations By $-0.20 EPS

Phillips 66 (PSX) reported quarterly earnings results on Friday, Apr-29-2016. The company reported $0.67 earnings per share for the quarter, missing the analyst consensus estimate by $-0.20. Analysts had a consensus of $0.87. Analysts expectations of $27437.26 million. During the same quarter in the previous year, the company posted $1.51 EPS.

Many Wall Street Analysts have commented on Phillips 66. Phillips 66 was Downgraded by Citigroup to ” Neutral” on Apr 20, 2016. Shares were Reiterated by Barclays on Apr 8, 2016 to “Overweight” and Lowered the Price Target to $ 98 from a previous price target of $102 .Cowen Initiated Phillips 66 on Mar 28, 2016 to “Market Perform”, Price Target of the shares are set at $92.

Phillips 66 opened for trading at $88.85 and hit $89.31 on the upside on Wednesday, eventually ending the session at $88.95, with a gain of 0.62% or 0.55 points. The heightened volatility saw the trading volume jump to 24,51,686 shares. Company has a market cap of $46,918 M.

In a different news, on Mar 7, 2016, Chukwuemeka A. Oyolu (Vice President & Controller) sold 2,576 shares at $82.98 per share price. According to the SEC, on Nov 6, 2015, Lawrence Michael Ziemba (Executive VP, Refining) sold 74,467 shares at $93.38 per share price. On Nov 4, 2015, Robert A Herman (Executive Vice President) sold 4,012 shares at $90.72 per share price, according to the Form-4 filing with the securities and exchange commission.

Phillips 66 is an energy manufacturing and logistics company with midstream chemicals refining and marketing and specialties businesses. The Company operates its business through four segments: midstream chemicals refining and marketing and specialties. It gathers processes transports and markets natural gas and transports fractionates and markets natural gas liquids (NGL) in the United States. The Chemical segment manufactures and markets petrochemicals and plastics. The Chemicals segment consists of its 50% equity investment in Chevron Phillips Chemical Company LLC (CPChem). The refining segment buys sells and refines crude oil and other feedstocks into petroleum products (such as gasolines distillates and aviation fuels) at 14 refineries mainly in the United States and Europe. The Marketing and Specialties segment purchases for resale and markets refined petroleum products (such as gasolines distillates and aviation fuels) mainly in the United States and Europe.

Phillips 66

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