Phillips 66 (NYSE:PSX) Given Average Recommendation of “Hold” by Brokerages
Phillips 66 (NYSE:PSX) has been assigned an average rating of “Hold” from the sixteen analysts that are covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $84.12.
Several analysts have commented on PSX shares. TheStreet upgraded shares of Phillips 66 from a “c” rating to a “b-” rating in a report on Friday, April 28th. Citigroup Inc. restated a “neutral” rating and set a $83.00 target price (down from $84.00) on shares of Phillips 66 in a report on Saturday, April 22nd. Jefferies Group LLC set a $74.00 target price on shares of Phillips 66 and gave the stock a “hold” rating in a report on Wednesday, April 19th. Zacks Investment Research downgraded shares of Phillips 66 from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Finally, US Capital Advisors restated a “buy” rating on shares of Phillips 66 in a report on Monday, May 22nd.
A number of institutional investors have recently added to or reduced their stakes in the company. Acadian Asset Management LLC boosted its position in Phillips 66 by 6,979.3% in the second quarter. Acadian Asset Management LLC now owns 116,525 shares of the oil and gas company’s stock worth $9,635,000 after buying an additional 114,879 shares during the period. Carroll Financial Associates Inc. boosted its position in Phillips 66 by 1.4% in the second quarter. Carroll Financial Associates Inc. now owns 15,971 shares of the oil and gas company’s stock worth $1,320,000 after buying an additional 218 shares during the period. SPC Financial Inc. boosted its position in Phillips 66 by 8.3% in the second quarter. SPC Financial Inc. now owns 23,867 shares of the oil and gas company’s stock worth $1,974,000 after buying an additional 1,837 shares during the period. Russell Investments Group Ltd. boosted its position in Phillips 66 by 81.2% in the second quarter. Russell Investments Group Ltd. now owns 1,608,000 shares of the oil and gas company’s stock worth $132,965,000 after buying an additional 720,568 shares during the period. Finally, Wallington Asset Management LLC boosted its position in Phillips 66 by 0.9% in the second quarter. Wallington Asset Management LLC now owns 92,285 shares of the oil and gas company’s stock worth $7,631,000 after buying an additional 820 shares during the period. 69.17% of the stock is owned by hedge funds and other institutional investors.
Shares of Phillips 66 (NYSE PSX) traded up 2.26% on Tuesday, reaching $84.52. 1,360,434 shares of the company were exchanged. Phillips 66 has a 12 month low of $73.82 and a 12 month high of $88.87. The stock has a market capitalization of $43.62 billion, a P/E ratio of 26.22 and a beta of 1.22. The stock has a 50 day moving average price of $80.83 and a 200-day moving average price of $79.67.
Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Friday, April 28th. The oil and gas company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.53. The business had revenue of $23.71 billion for the quarter, compared to the consensus estimate of $22.30 billion. Phillips 66 had a net margin of 1.86% and a return on equity of 5.98%. During the same period last year, the company posted $0.67 EPS. On average, equities analysts expect that Phillips 66 will post $3.98 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 18th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $2.80 dividend on an annualized basis and a yield of 3.39%. Phillips 66’s dividend payout ratio (DPR) is 86.96%.
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.
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