Phillips 66 (PSX) Trading 2.1% Higher
Phillips 66 (NYSE:PSX) shares traded up 2.1% on Tuesday . The stock traded as high as $76.33 and last traded at $75.80, with a volume of 2,756,630 shares traded. The stock had previously closed at $74.26.
A number of research firms have commented on PSX. Zacks Investment Research raised shares of Phillips 66 from a “sell” rating to a “hold” rating in a report on Monday, May 2nd. JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of Phillips 66 in a report on Sunday, June 12th. Vetr lowered shares of Phillips 66 from a “strong-buy” rating to a “buy” rating and set a $95.50 target price for the company. in a report on Monday, April 11th. Barclays PLC lowered their target price on shares of Phillips 66 from $102.00 to $98.00 and set an “overweight” rating for the company in a report on Friday, April 8th. Finally, Morgan Stanley reaffirmed a “hold” rating on shares of Phillips 66 in a report on Monday. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $86.90.
The firm has a market cap of $40.83 billion and a PE ratio of 13.52. The company has a 50 day moving average of $77.06 and a 200 day moving average of $80.83.
Phillips 66 (NYSE:PSX) last announced its earnings results on Friday, July 29th. The company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.01. During the same quarter in the prior year, the company posted $1.83 EPS. Equities analysts anticipate that Phillips 66 will post $3.70 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Thursday, August 18th will be paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date is Tuesday, August 16th.
In related news, major shareholder Berkshire Hathaway Inc purchased 824,630 shares of Phillips 66 stock in a transaction on Monday, May 23rd. The stock was acquired at an average cost of $77.79 per share, for a total transaction of $64,147,967.70. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Paula Ann Johnson sold 40,141 shares of the firm’s stock in a transaction on Wednesday, June 29th. The stock was sold at an average price of $79.57, for a total transaction of $3,194,019.37. The disclosure for this sale can be found here.
A number of large investors recently bought and sold shares of PSX. Morgan Stanley boosted its stake 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 last quarter. Dimensional Fund Advisors LP boosted its stake 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 last quarter. I.G. Investment Management LTD. boosted its stake 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 last quarter. Principal Financial Group Inc. boosted its stake in Phillips 66 by 0.9% in the fourth quarter. Principal Financial Group Inc. now owns 639,944 shares of the company’s stock worth $52,345,000 after buying an additional 5,629 shares during the last quarter. Finally, Kayne Anderson Capital Advisors LP boosted its stake in Phillips 66 by 6.1% in the fourth quarter. Kayne Anderson Capital Advisors LP now owns 422,000 shares of the company’s stock worth $34,514,000 after buying an additional 24,400 shares during the last quarter.
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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