Phillips 66 (NYSE:PSX) was upgraded by investment analysts at Goldman Sachs Group to a “buy” rating in a research note issued to investors on Monday.
A number of other brokerages have also issued reports on PSX. US Capital Advisors lowered shares of Phillips 66 from an “overweight” rating to a “hold” rating in a research report on Monday, December 4th. Jefferies Group lowered shares of Phillips 66 from a “hold” rating to an “underperform” rating and dropped their target price for the stock from $95.00 to $75.14 in a research report 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 reiterated a “buy” rating and set a $108.00 price target (up previously from $96.00) on shares of Phillips 66 in a research note on Thursday, October 12th. Finally, Piper Jaffray Companies set a $93.00 price target on shares of Phillips 66 and gave the stock a “buy” rating in a research note 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. The stock presently has an average rating of “Hold” and a consensus price target of $93.25.
Phillips 66 (NYSE PSX) opened at $99.92 on Monday. Phillips 66 has a 52-week low of $75.14 and a 52-week high of $100.46. The stock has a market cap of $51,102.50, a price-to-earnings ratio of 28.79, a P/E/G ratio of 2.57 and a beta of 1.24. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.86 and a current ratio of 1.31.
Phillips 66 announced that its board has authorized a share buyback program on Monday, October 9th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the oil and gas company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
In other news, VP Chukwuemeka A. Oyolu sold 1,151 shares of the business’s 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 sale was disclosed in a filing with the SEC, which is available at this link. 0.50% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the company. Jacobi Capital Management LLC lifted its position in Phillips 66 by 27.4% during the 1st quarter. Jacobi Capital Management LLC now owns 1,288 shares of the oil and gas company’s stock worth $100,000 after buying an additional 277 shares in the last quarter. First Command Bank acquired a new position in Phillips 66 during the 4th quarter worth about $102,000. Winch Advisory Services LLC lifted its position in Phillips 66 by 5,872.7% during the 1st quarter. Winch Advisory Services LLC now owns 1,314 shares of the oil and gas company’s stock worth $104,000 after buying an additional 1,292 shares in the last quarter. Motco lifted its position in Phillips 66 by 4.0% during the 2nd quarter. Motco now owns 1,309 shares of the oil and gas company’s stock worth $108,000 after buying an additional 50 shares in the last quarter. Finally, Westside Investment Management Inc. lifted its position in Phillips 66 by 239.2% during the 1st quarter. Westside Investment Management Inc. now owns 1,418 shares of the oil and gas company’s stock worth $110,000 after buying an additional 1,000 shares in the last quarter. Institutional investors own 70.24% 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.
