Scotiabank Reiterates “Hold” Rating for Phillips 66 (PSX)
Phillips 66 (NYSE:PSX)‘s stock had its “hold” rating reaffirmed by research analysts at Scotiabank in a report issued on Friday.
A number of other research analysts have also recently commented on the company. Jefferies Group LLC reissued a “hold” rating and issued a $78.00 target price on shares of Phillips 66 in a research note on Tuesday. BidaskClub cut Phillips 66 from a “hold” rating to a “sell” rating in a research note on Friday, August 18th. Barclays PLC reissued an “equal weight” rating and issued a $89.00 target price (up previously from $87.00) on shares of Phillips 66 in a research note on Wednesday, August 2nd. Piper Jaffray Companies reissued a “buy” rating and issued a $84.00 target price on shares of Phillips 66 in a research note on Friday, July 14th. Finally, Zacks Investment Research cut Phillips 66 from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and an average target price of $83.93.
Phillips 66 (NYSE:PSX) traded up 0.80% during midday trading on Friday, hitting $84.71. The company had a trading volume of 947,192 shares. The firm’s 50 day moving average is $83.70 and its 200-day moving average is $80.15. The firm has a market capitalization of $43.33 billion, a P/E ratio of 25.33 and a beta of 1.20. Phillips 66 has a 52 week low of $75.14 and a 52 week high of $88.87.
Phillips 66 (NYSE:PSX) last released its earnings results on Tuesday, August 1st. The oil and gas company reported $1.09 EPS for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.07. The business had revenue of $24.58 billion for the quarter, compared to analysts’ expectations of $25.14 billion. Phillips 66 had a return on equity of 6.29% and a net margin of 1.87%. During the same quarter in the prior year, the firm earned $0.94 earnings per share. On average, equities research analysts expect that Phillips 66 will post $4.07 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of PSX. Gerstein Fisher boosted its position in Phillips 66 by 12.7% during the third quarter. Gerstein Fisher now owns 7,966 shares of the oil and gas company’s stock valued at $612,000 after buying an additional 898 shares during the period. Stillwater Investment Management boosted its position in Phillips 66 by 0.3% during the fourth quarter. Stillwater Investment Management now owns 14,161 shares of the oil and gas company’s stock valued at $1,158,000 after buying an additional 42 shares during the period. Osborn Rohs Williams & Donohoe boosted its position in Phillips 66 by 1.8% during the fourth quarter. Osborn Rohs Williams & Donohoe now owns 20,882 shares of the oil and gas company’s stock valued at $1,708,000 after buying an additional 360 shares during the period. Detwiler Fenton Investment Management purchased a new stake in Phillips 66 during the fourth quarter valued at about $357,000. Finally, Stock Yards Bank & Trust Company boosted its position in Phillips 66 by 1.9% during the fourth quarter. Stock Yards Bank & Trust Company now owns 7,852 shares of the oil and gas company’s stock valued at $642,000 after buying an additional 149 shares during the period. Institutional investors and hedge funds own 69.57% of the company’s stock.
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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