Phillips 66 Price Target Cut to $66.00 by Analysts at Credit Suisse (PSX)
Equities research analysts at Credit Suisse cut their target price on shares of Phillips 66 (NYSE:PSX) from $70.00 to $66.00 in a research note issued to investors on Wednesday, Analyst RN reports. The firm currently has an “outperform” rating on the stock. Credit Suisse’s target price indicates a potential upside of 15.99% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Oppenheimer downgraded shares of Phillips 66 from an “outperform” rating to a “market perform” rating in a research note to investors on Friday, October 4th. Finally, analysts at Morgan Stanley cut their price target on shares of Phillips 66 from $79.00 to $71.00 in a research note to investors on Tuesday, October 1st. They now have an “overweight” rating on the stock. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $59.99.
Shares of Phillips 66 (NYSE:PSX) traded up 0.02% during mid-day trading on Wednesday, hitting $56.90. The stock had a trading volume of 3,466,476 shares. Phillips 66 has a 1-year low of $42.45 and a 1-year high of $70.52. The stock’s 50-day moving average is $57.75 and its 200-day moving average is $60.54. The company has a market cap of $34.768 billion and a P/E ratio of 7.71.
Phillips 66 (NYSE:PSX) last released its earnings data on Wednesday, July 31st. The company reported $1.50 EPS for the quarter, missing the Thomson Reuters consensus estimate of $1.81 by $0.31. During the same quarter in the prior year, the company posted $2.23 earnings per share. On average, analysts predict that Phillips 66 will post $6.21 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, December 2nd. Investors of record on Thursday, November 14th will be paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 2.74%. The ex-dividend date is Tuesday, November 12th. This is an increase from Phillips 66′s previous quarterly dividend of $0.31.
Phillips 66 is a holding company. The Company is engaged in producing natural gas liquids (NYSE:PSX) and petrochemicals.
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