Phillips 66 (PSX) Shares Up 2.1%
Phillips 66 (NYSE:PSX) shares shot up 2.1% during trading on Tuesday . The company traded as high as $76.33 and last traded at $75.80, with a volume of 2,756,630 shares changing hands. The stock had previously closed at $74.26.
A number of brokerages recently commented on PSX. Morgan Stanley reaffirmed a “hold” rating on shares of Phillips 66 in a report on Monday. Barclays PLC reaffirmed an “equal weight” rating and issued a $86.00 price target on shares of Phillips 66 in a report on Thursday, July 28th. TheStreet lowered shares of Phillips 66 from a “buy” rating to a “hold” rating in a research report on Thursday, July 21st. Scotiabank lowered shares of Phillips 66 from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $90.00 to $89.00 in a research report on Monday, July 11th. Finally, Howard Weil lowered shares of Phillips 66 from a “sector outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $90.00 to $89.00 in a research report on Monday, July 11th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Phillips 66 presently has a consensus rating of “Hold” and an average price target of $86.90.
The company has a market cap of $39.81 billion and a PE ratio of 13.18. The stock has a 50-day moving average price of $77.15 and a 200 day moving average price of $80.87.
Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Friday, July 29th. The company reported $0.94 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.01. During the same period last year, the firm earned $1.83 earnings per share. On average, equities analysts expect that Phillips 66 will post $3.90 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 1st. Shareholders of record on Thursday, August 18th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Tuesday, August 16th. This represents a $2.52 annualized dividend and a yield of 3.31%.
In other news, CEO Greg C. Garland sold 62,500 shares of the business’s stock in a transaction on Friday, June 3rd. The stock was sold at an average price of $79.95, for a total transaction of $4,996,875.00. Following the completion of the transaction, the chief executive officer now owns 146,660 shares of the company’s stock, valued at approximately $11,725,467. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director William R. Loomis, Jr. purchased 12,680 shares of the stock in a transaction dated Monday, June 13th. The shares were acquired at an average cost of $78.87 per share, with a total value of $1,000,071.60. Following the acquisition, the director now directly owns 12,680 shares in the company, valued at approximately $1,000,071.60. The disclosure for this purchase can be found here.
Several institutional investors have bought and sold shares of PSX. I.G. Investment Management LTD. boosted its position in Phillips 66 by 322.8% in the fourth quarter. I.G. Investment Management LTD. now owns 855,098 shares of the company’s stock worth $69,947,000 after buying an additional 652,866 shares during the period. Morgan Stanley boosted its position in Phillips 66 by 14.4% in the fourth quarter. Morgan Stanley now owns 5,166,371 shares of the company’s stock worth $422,609,000 after buying an additional 649,505 shares during the period. Airain ltd acquired a new position in Phillips 66 during the fourth quarter worth approximately $12,755,000. Sumitomo Mitsui Trust Holdings Inc. boosted its position in Phillips 66 by 7.3% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,692,839 shares of the company’s stock worth $138,830,000 after buying an additional 115,622 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in Phillips 66 by 2.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,885,368 shares of the company’s stock worth $399,627,000 after buying an additional 104,174 shares during the period.
Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining and marketing, and specialties businesses. The Company operates its business through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment includes its equity investment in DCP Midstream , LLC (DCP Midstream) and its investment in Phillips 66 Partners LP.
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