Phillips 66 (PSX) Receives Average Recommendation of “Hold” from Analysts

Phillips 66 (NYSE:PSX) has been assigned a consensus rating of “Hold” from the twenty research firms that are currently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating on the company. The average 12 month price target among analysts that have covered the stock in the last year is $100.88.

PSX has been the subject of a number of research analyst reports. UBS Group raised their price objective on shares of Phillips 66 from $85.00 to $92.00 and gave the stock a “neutral” rating in a report on Wednesday, November 15th. Vetr downgraded shares of Phillips 66 from a “buy” rating to a “hold” rating and set a $97.16 price objective for the company. in a report on Thursday, November 2nd. Goldman Sachs Group upgraded shares of Phillips 66 to a “buy” rating in a report on Monday, December 18th. Jefferies Group downgraded shares of Phillips 66 from a “hold” rating to an “underperform” rating and decreased their price objective for the stock from $95.00 to $75.14 in a report on Monday, October 16th. Finally, Wells Fargo & Co restated a “market perform” rating and set a $91.00 price objective (up previously from $84.00) on shares of Phillips 66 in a report on Tuesday, October 17th.

In other Phillips 66 news, VP Chukwuemeka A. Oyolu sold 2,700 shares of the stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $100.25, for a total transaction of $270,675.00. Following the completion of the transaction, the vice president now owns 2,700 shares in the company, valued at $270,675. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.50% of the stock is owned by company insiders.

Large investors have recently modified their holdings of the business. Institute for Wealth Management LLC. bought a new position in Phillips 66 during the second quarter worth about $979,000. Blue Edge Capital LLC boosted its position in shares of Phillips 66 by 3.2% in the second quarter. Blue Edge Capital LLC now owns 5,088 shares of the oil and gas company’s stock valued at $421,000 after acquiring an additional 160 shares during the period. Nationwide Fund Advisors boosted its position in shares of Phillips 66 by 7.7% in the third quarter. Nationwide Fund Advisors now owns 338,816 shares of the oil and gas company’s stock valued at $31,039,000 after acquiring an additional 24,318 shares during the period. Nisa Investment Advisors LLC boosted its position in shares of Phillips 66 by 2.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 231,837 shares of the oil and gas company’s stock valued at $23,450,000 after acquiring an additional 5,284 shares during the period. Finally, RNC Capital Management LLC boosted its position in shares of Phillips 66 by 0.9% in the fourth quarter. RNC Capital Management LLC now owns 368,056 shares of the oil and gas company’s stock valued at $37,229,000 after acquiring an additional 3,326 shares during the period. Hedge funds and other institutional investors own 70.17% of the company’s stock.

Shares of Phillips 66 (PSX) traded up $0.14 during mid-day trading on Friday, hitting $92.60. 2,680,000 shares of the stock traded hands, compared to its average volume of 2,040,000. Phillips 66 has a 52 week low of $75.14 and a 52 week high of $107.47. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.86 and a current ratio of 1.31. The stock has a market capitalization of $46,920.00, a P/E ratio of 23.32, a P/E/G ratio of 1.50 and a beta of 1.11.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.21. Phillips 66 had a net margin of 4.88% and a return on equity of 9.52%. The business had revenue of $30.12 billion during the quarter, compared to the consensus estimate of $30.71 billion. During the same quarter last year, the company posted $0.16 earnings per share. equities research analysts predict that Phillips 66 will post 7.26 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Tuesday, February 20th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, February 16th. This represents a $2.80 dividend on an annualized basis and a yield of 3.02%. Phillips 66’s dividend payout ratio is presently 70.53%.

WARNING: This piece of content was originally posted by American Banking News and is the sole property of of American Banking News. If you are reading this piece of content on another domain, it was copied illegally and reposted in violation of U.S. and international trademark and copyright legislation. The legal version of this piece of content can be accessed at https://www.americanbankingnews.com/2018/02/10/phillips-66-psx-receives-average-recommendation-of-hold-from-analysts.html.

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.

Analyst Recommendations for Phillips 66 (NYSE:PSX)

Receive News & Ratings for Phillips 66 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Phillips 66 and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply