Revenue Update on Phillips 66(NYSE:PSX)

Phillips 66(NYSE:PSX) announced the earnings results for Fiscal Year 2016 and Q4. The results came in during Pre-Market on Feb 3, 2017. Company reported revenue of $23.668B. Analysts estimated a revenue of $22.490B. The revenues were 5.24% above the estimates. Earnings per share were $0.16. The reported EPS was below estimates by -65.22%. Analysts had estimated an EPS of $0.46.

Phillips 66 (PSX) shares turned negative on Tuesdays trading session with the shares closing down -0.59 points or -0.75% at a volume of 32,55,417. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $79.14. The peak price level was also seen at $79.14 while the days lowest was $77.81. Finally the shares closed at $78.55. The 52-week high of the shares is $90.87 while the 52-week low is $71.74. According to the latest information available, the market cap of the company is $40,767 M.

Several Insider Transactions has been reported to the SEC. On Dec 14, 2016, Chukwuemeka A. Oyolu (Vice President & Controller) sold 3,574 shares at $88.12 per share price.Also, On Dec 5, 2016, Lawrence Michael Ziemba (Executive VP, Refining) sold 101,909 shares at $85.24 per share price.On Nov 30, 2016, Robert A Herman (Executive Vice President) sold 78,327 shares at $82.81 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.

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