Phillips 66 (PSX) Stock Rating Reaffirmed by Barclays PLC
Phillips 66 (NYSE:PSX)‘s stock had its “equal weight” rating reaffirmed by stock analysts at Barclays PLC in a report issued on Monday. They currently have a $84.00 price objective on the stock, down from their prior price objective of $86.00. Barclays PLC’s price objective suggests a potential upside of 4.27% from the stock’s current price.
PSX has been the topic of several other reports. Vetr lowered shares of Phillips 66 from a “strong-buy” rating to a “buy” rating and set a $87.77 price objective on the stock. in a report on Monday, September 19th. Scotiabank lowered shares of Phillips 66 from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from $90.00 to $89.00 in a report on Monday, July 11th. Piper Jaffray Cos. lifted their price objective on shares of Phillips 66 from $68.00 to $74.00 and gave the company a “neutral” rating in a report on Monday, August 22nd. TheStreet lowered shares of Phillips 66 from a “buy” rating to a “hold” rating in a report on Thursday, July 21st. Finally, Morgan Stanley reaffirmed a “hold” rating on shares of Phillips 66 in a report on Monday, August 1st. Fourteen investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Phillips 66 currently has a consensus rating of “Hold” and an average price target of $86.12.
Phillips 66 (NYSE:PSX) opened at 80.56 on Monday. The stock’s 50 day moving average price is $79.39 and its 200 day moving average price is $79.96. The company has a market capitalization of $42.12 billion, a PE ratio of 13.94 and a beta of 1.37. Phillips 66 has a 12-month low of $71.74 and a 12-month high of $94.12.
Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Friday, July 29th. The company reported $0.94 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.01. Phillips 66 had a net margin of 3.51% and a return on equity of 13.44%. During the same quarter last year, the business earned $1.83 EPS. On average, equities analysts anticipate that Phillips 66 will post $3.41 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Thursday, November 17th will be given a $0.63 dividend. The ex-dividend date is Tuesday, November 15th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.13%. Phillips 66’s dividend payout ratio (DPR) is currently 43.83%.
In other news, major shareholder Berkshire Hathaway Inc acquired 215,869 shares of the firm’s stock in a transaction on Tuesday, August 23rd. The stock was acquired at an average price of $77.83 per share, for a total transaction of $16,801,084.27. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.05% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Emerald Acquisition Ltd. bought a new stake in Phillips 66 during the second quarter worth approximately $64,384,000. Neuberger Berman Group LLC boosted its stake in Phillips 66 by 352.8% in the second quarter. Neuberger Berman Group LLC now owns 899,533 shares of the company’s stock worth $71,369,000 after buying an additional 700,856 shares in the last quarter. Janus Capital Management LLC boosted its stake in Phillips 66 by 31.0% in the second quarter. Janus Capital Management LLC now owns 2,776,312 shares of the company’s stock worth $220,271,000 after buying an additional 656,896 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in Phillips 66 by 3.3% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 14,562,698 shares of the company’s stock worth $1,155,404,000 after buying an additional 459,964 shares in the last quarter. Finally, BlackRock Fund Advisors boosted its stake in Phillips 66 by 6.9% in the second quarter. BlackRock Fund Advisors now owns 7,109,567 shares of the company’s stock worth $564,073,000 after buying an additional 457,220 shares in the last quarter. Institutional investors and hedge funds own 69.99% of the company’s stock.
About Phillips 66
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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