Phillips 66 (PSX) Given Average Recommendation of “Hold” by Brokerages
Phillips 66 (NYSE:PSX) has earned an average rating of “Hold” from the sixteen analysts that are presently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $84.12.
Several research firms have recently commented on PSX. Jefferies Group LLC set a $74.00 price target on shares of Phillips 66 and gave the company a “hold” rating in a report on Saturday, June 3rd. Scotiabank reaffirmed a “hold” rating and issued a $86.00 price target on shares of Phillips 66 in a report on Tuesday, June 27th. BidaskClub raised shares of Phillips 66 from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 13th. TheStreet raised shares of Phillips 66 from a “c” rating to a “b-” rating in a report on Friday, April 28th. Finally, Citigroup Inc. reaffirmed a “neutral” rating and issued a $83.00 price target (down from $84.00) on shares of Phillips 66 in a report on Saturday, April 22nd.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Winslow Evans & Crocker Inc. raised its position in Phillips 66 by 5.4% in the first quarter. Winslow Evans & Crocker Inc. now owns 4,616 shares of the oil and gas company’s stock worth $366,000 after buying an additional 236 shares during the last quarter. Candriam Luxembourg S.C.A. raised its position in Phillips 66 by 14.0% in the first quarter. Candriam Luxembourg S.C.A. now owns 141,328 shares of the oil and gas company’s stock worth $11,197,000 after buying an additional 17,409 shares during the last quarter. BB&T Corp raised its position in Phillips 66 by 29.2% in the first quarter. BB&T Corp now owns 64,177 shares of the oil and gas company’s stock worth $5,083,000 after buying an additional 14,515 shares during the last quarter. Shell Asset Management Co. raised its position in Phillips 66 by 3.0% in the first quarter. Shell Asset Management Co. now owns 45,458 shares of the oil and gas company’s stock worth $3,601,000 after buying an additional 1,316 shares during the last quarter. Finally, LS Investment Advisors LLC raised its position in Phillips 66 by 5.2% in the first quarter. LS Investment Advisors LLC now owns 19,609 shares of the oil and gas company’s stock worth $1,553,000 after buying an additional 970 shares during the last quarter. 69.17% of the stock is owned by hedge funds and other institutional investors.
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Shares of Phillips 66 (NYSE:PSX) traded up 2.26% during midday trading on Tuesday, hitting $84.52. 1,360,434 shares of the stock were exchanged. Phillips 66 has a 12-month low of $73.82 and a 12-month high of $88.87. The company has a market cap of $43.62 billion, a PE ratio of 26.22 and a beta of 1.22. The firm has a 50-day moving average price of $80.83 and a 200-day moving average price of $79.67.
Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Friday, April 28th. The oil and gas company reported $0.56 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.53. Phillips 66 had a net margin of 1.86% and a return on equity of 5.98%. The business had revenue of $23.71 billion during the quarter, compared to analyst estimates of $22.30 billion. During the same period in the previous year, the business posted $0.67 EPS. On average, equities analysts predict that Phillips 66 will post $3.98 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 18th will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date is Wednesday, August 16th. Phillips 66’s payout ratio is 86.96%.
Phillips 66 Company Profile
Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining, and marketing and specialties businesses. The Company operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment gathers, processes, transports and markets natural gas, and transports, stores, fractionates and markets natural gas liquids (NGLs) in the United States.
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