Phillips 66 (PSX) Receives Consensus Recommendation of “Hold” from Analysts
Phillips 66 (NYSE:PSX) has been given a consensus rating of “Hold” by the fourteen brokerages that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $83.53.
PSX has been the topic of a number of recent research reports. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $88.00 price objective on shares of Phillips 66 in a research note on Thursday, May 25th. Scotiabank set a $86.00 price objective on shares of Phillips 66 and gave the company a “hold” rating in a research note on Monday, May 1st. US Capital Advisors reaffirmed a “buy” rating on shares of Phillips 66 in a research note on Monday, May 22nd. Zacks Investment Research cut shares of Phillips 66 from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Finally, TheStreet raised shares of Phillips 66 from a “c” rating to a “b-” rating in a research note on Friday, June 30th.
Shares of Phillips 66 (PSX) traded up 0.83% during midday trading on Friday, hitting $81.56. The stock had a trading volume of 2,288,852 shares. Phillips 66 has a 52 week low of $75.14 and a 52 week high of $88.87. The stock has a 50-day moving average of $83.33 and a 200 day moving average of $79.81. The stock has a market cap of $41.72 billion, a PE ratio of 24.39 and a beta of 1.22.
Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Tuesday, August 1st. The oil and gas company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.07. Phillips 66 had a net margin of 1.87% and a return on equity of 6.29%. The firm had revenue of $24.58 billion for the quarter, compared to analysts’ expectations of $25.14 billion. During the same period last year, the firm earned $0.94 earnings per share. Analysts anticipate that Phillips 66 will post $4.02 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 18th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.43%. Phillips 66’s dividend payout ratio is 83.58%.
Several institutional investors have recently made changes to their positions in PSX. Jacobi Capital Management LLC boosted its stake in Phillips 66 by 27.4% in the first quarter. Jacobi Capital Management LLC now owns 1,288 shares of the oil and gas company’s stock valued at $100,000 after buying an additional 277 shares in the last quarter. Winch Advisory Services LLC boosted its stake in Phillips 66 by 5,872.7% in the first quarter. Winch Advisory Services LLC now owns 1,314 shares of the oil and gas company’s stock valued at $104,000 after buying an additional 1,292 shares in the last quarter. Motco boosted its stake in Phillips 66 by 4.0% in the second quarter. Motco now owns 1,309 shares of the oil and gas company’s stock valued at $108,000 after buying an additional 50 shares in the last quarter. Westside Investment Management Inc. boosted its stake in Phillips 66 by 239.2% in the first quarter. Westside Investment Management Inc. now owns 1,418 shares of the oil and gas company’s stock valued at $110,000 after buying an additional 1,000 shares in the last quarter. Finally, Bruderman Asset Management LLC bought a new stake in Phillips 66 during the second quarter valued at approximately $112,000. 69.57% of the stock is currently owned by institutional investors.
About Phillips 66
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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