Oil Outlook: Phillips 66 Out-Earns Expectations, Chevron Posts Loss Per Share

Phillips 66 PSX announced fourth-quarter results Friday. The energy company posted EPS of $1.31 compared to $1.25 estimates.

The company issued a $0.56 quarterly dividend and paid out $2.7 billion to shareholders in 2015.

Oil competitor Chevron Corporation CVX reported a loss of $0.31 a share for the fourth quarter, a huge swing from Q4 2014 earnings of $1.85 a share.

Revenue came in at $29.2 billion, beating analyst expectations of $28.7 billion.

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“Our 2015 earnings were down significantly from the previous year, reflecting a nearly 50 percent year-on-year decline in crude oil prices,” said Chevron chairman and CEO John Watson.

Phillips and Chevron were both trending down slightly below 1 percent at time of writing.