HOUSTON (AP) _ Phillips 66 (PSX) on Friday reported fourth-quarter profit of $736 million.

On a per-share basis, the Houston-based company said it had net income of $1.64. Earnings, adjusted for non-recurring gains, were $1.54 per share.

The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.53 per share.

The oil refiner posted revenue of $29.61 billion in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $27.3 billion.

For the year, the company reported profit of $3.08 billion, or $6.77 per share. Revenue was reported as $109.6 million.

Phillips 66 shares have fallen 14% since the beginning of the year, while the Standard & Poor's 500 index has climbed roughly 2%. The stock has increased nearly 2% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PSX at https://www.zacks.com/ap/PSX

Automated Insights, source Associated Press News