Phillips 66 (PSX) Sets New 1-Year High at $89.52
Phillips 66 (NYSE:PSX) hit a new 52-week high during trading on Thursday . The company traded as high as $89.52 and last traded at $89.45, with a volume of 812,120 shares traded. The stock had previously closed at $89.07.
PSX has been the topic of a number of research reports. Piper Jaffray Companies restated a “buy” rating and set a $84.00 target price on shares of Phillips 66 in a research report on Friday, July 14th. Zacks Investment Research downgraded shares of Phillips 66 from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. TheStreet upgraded shares of Phillips 66 from a “c” rating to a “b-” rating in a research report on Friday, June 30th. Scotiabank restated a “hold” rating on shares of Phillips 66 in a research report on Friday, September 8th. Finally, Jefferies Group LLC restated a “hold” rating and set a $78.00 target price on shares of Phillips 66 in a research report on Tuesday, September 5th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Phillips 66 has a consensus rating of “Hold” and a consensus price target of $83.93.
The stock has a market cap of $45.74 billion, a price-to-earnings ratio of 26.76 and a beta of 1.20. The firm’s 50 day moving average price is $84.43 and its 200 day moving average price is $80.63.
Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Tuesday, August 1st. The oil and gas company reported $1.09 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.07. Phillips 66 had a return on equity of 6.29% and a net margin of 1.87%. The company had revenue of $24.58 billion for the quarter, compared to analysts’ expectations of $25.14 billion. During the same period in the previous year, the business posted $0.94 earnings per share. Analysts predict that Phillips 66 will post $4.23 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Friday, August 18th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.14%. The ex-dividend date of this dividend was Wednesday, August 16th. Phillips 66’s payout ratio is presently 83.58%.
In related news, VP Chukwuemeka A. Oyolu sold 1,151 shares of the company’s stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $89.08, for a total value of $102,531.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.50% of the company’s stock.
A number of hedge funds have recently made changes to their positions in PSX. Jacobi Capital Management LLC boosted its holdings in Phillips 66 by 27.4% in the first quarter. Jacobi Capital Management LLC now owns 1,288 shares of the oil and gas company’s stock valued at $100,000 after acquiring an additional 277 shares during the last quarter. Winch Advisory Services LLC boosted its holdings in Phillips 66 by 5,872.7% in the first quarter. Winch Advisory Services LLC now owns 1,314 shares of the oil and gas company’s stock valued at $104,000 after acquiring an additional 1,292 shares during the last quarter. Motco boosted its holdings in Phillips 66 by 4.0% in the second quarter. Motco now owns 1,309 shares of the oil and gas company’s stock valued at $108,000 after acquiring an additional 50 shares during the last quarter. Westside Investment Management Inc. boosted its holdings in Phillips 66 by 239.2% in the first quarter. Westside Investment Management Inc. now owns 1,418 shares of the oil and gas company’s stock valued at $110,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Bruderman Asset Management LLC bought a new stake in Phillips 66 in the second quarter valued at approximately $112,000. Institutional investors and hedge funds own 69.53% of the company’s stock.
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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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