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Shares of Phillips 66 (NYSE:PSX) saw an uptick in trading volume on Monday after Citigroup raised their price target on the stock from $84.00 to $88.00, Stock Ratings reports. Citigroup currently has a neutral rating on the stock. 8,352,105 shares changed hands during trading, an increase of 118% from the previous session’s volume of 3,834,054 shares.The stock last traded at $79.95 and had previously closed at $80.29.

A number of other firms have also recently commented on PSX. Analysts at Zacks reiterated a “neutral” rating on shares of Phillips 66 in a research note on Friday, June 20th. They now have a $90.00 price target on the stock. Separately, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Phillips 66 in a research note on Wednesday, June 4th. They now have a $68.00 price target on the stock, up previously from $52.00. Finally, analysts at TheStreet upgraded shares of Phillips 66 from a “hold” rating to a “buy” rating in a research note on Tuesday, April 15th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Phillips 66 presently has a consensus rating of “Buy” and a consensus target price of $82.36.

In other Phillips 66 news, Director William R. Loomis, Jr. bought 3,105 shares of the company’s stock on the open market in a transaction that occurred on Monday, June 30th. The stock was purchased at an average cost of $80.60 per share, for a total transaction of $250,263.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

The stock has a 50-day moving average of $82.82 and a 200-day moving average of $79.21. The company has a market cap of $45.239 billion and a price-to-earnings ratio of 12.56.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $1.47 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.34 by $0.13. During the same quarter last year, the company posted $2.19 earnings per share. Analysts expect that Phillips 66 will post $6.88 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which is scheduled for Tuesday, September 2nd. Investors of record on Friday, August 15th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.50%. The ex-dividend date is Wednesday, August 13th.

Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining, and marketing and specialties businesses.

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