Refiner Phillips 66 posts third-quarter profit below estimates By Reuters

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<span>© Reuters. FILE PHOTO: A view of the Phillips 66 Company&#8217;s Los Angeles Refinery (foreground), which processes domestic &amp; imported crude oil into gasoline, aviation and diesel fuels, and storage tanks for refined petroleum products at the Kinder Morgan Carson Termina</span><br />
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<p>(Reuters) -Phillips 66 reported a third-quarter profit on Friday that missed analysts&#8217; estimates, hurt by lower refining margins.</p>
<p>The company&#8217;s realized margins fell to $18.96 per barrel in the quarter from $26.87 per barrel a year earlier.</p>
<p>Phillips 66 (NYSE:)&#8217;s shares fell 1.1% to $108.86 in premarket trading.</p>
<p>On an adjusted basis, the company earned $4.63 per share in the third quarter, compared with estimates of $4.76, according to LSEG data.</p>
<p>Phillips 66 said it was on track to exceed the $10 billion to $12 billion target on share repurchases and dividends, increasing it to $13 billion to $15 billion.</p>
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