Phillips 66 (NYSE:PSX) was downgraded by research analysts at US Capital Advisors from an “overweight” rating to a “hold” rating in a report issued on Monday. US Capital Advisors also issued estimates for Phillips 66’s FY2017 earnings at $4.63 EPS, Q3 2018 earnings at $1.89 EPS and FY2018 earnings at $5.80 EPS.
Several other research firms also recently commented on PSX. Jefferies Group downgraded shares of Phillips 66 from a “hold” rating to an “underperform” rating and lowered their price objective for the stock from $95.00 to $75.14 in a research note on Monday, October 16th. Zacks Investment Research downgraded shares of Phillips 66 from a “buy” rating to a “hold” rating in a research note on Thursday, October 12th. Argus restated a “buy” rating and set a $108.00 target price (up from $96.00) on shares of Phillips 66 in a research report on Thursday, October 12th. Piper Jaffray Companies set a $93.00 target price on shares of Phillips 66 and gave the company a “buy” rating in a research report on Monday, November 13th. Finally, Vetr upgraded shares of Phillips 66 from a “hold” rating to a “buy” rating and set a $97.16 target price for the company in a research report on Monday, November 13th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. Phillips 66 currently has a consensus rating of “Hold” and an average price target of $93.25.
Shares of Phillips 66 (NYSE:PSX) opened at $98.27 on Monday. Phillips 66 has a one year low of $75.14 and a one year high of $99.35. The company has a current ratio of 1.31, a quick ratio of 0.86 and a debt-to-equity ratio of 0.40. The company has a market cap of $49,887.64, a price-to-earnings ratio of 28.11, a PEG ratio of 2.50 and a beta of 1.24.
Phillips 66 declared that its board has authorized a share repurchase plan on Monday, October 9th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the oil and gas company to buy shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.
In other Phillips 66 news, VP Chukwuemeka A. Oyolu sold 1,151 shares of Phillips 66 stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of $89.08, for a total value of $102,531.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.50% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Jacobi Capital Management LLC increased its holdings 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. Motco increased its holdings 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. Bruderman Asset Management LLC purchased a new position in Phillips 66 in the second quarter valued at $112,000. Farmers National Bank purchased a new position in Phillips 66 in the first quarter valued at $113,000. Finally, Ffcm LLC purchased a new position in Phillips 66 in the second quarter valued at $113,000. 70.24% of the stock is owned by institutional investors.
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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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