Phillips 66 (PSX) Stock Rating Upgraded by Tudor Pickering
Tudor Pickering upgraded shares of Phillips 66 (NYSE:PSX) from a hold rating to a buy rating in a report published on Friday, Marketbeat Ratings reports.
A number of other research firms have also commented on PSX. Jefferies Financial Group raised Phillips 66 from an underperform rating to a hold rating and set a $108.00 price target for the company in a research report on Tuesday, October 16th. Raymond James decreased their target price on Phillips 66 from $139.00 to $135.00 and set an outperform rating for the company in a research report on Monday, October 29th. Wells Fargo & Co increased their target price on Phillips 66 from $137.00 to $140.00 and gave the stock a buy rating in a research report on Monday, October 29th. JPMorgan Chase & Co. raised Phillips 66 from a neutral rating to an overweight rating and set a $138.00 target price for the company in a research report on Tuesday, October 30th. They noted that the move was a valuation call. Finally, Zacks Investment Research restated a buy rating and issued a $113.00 price target on shares of Phillips 66 in a research note on Wednesday, November 14th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $123.62.
PSX opened at $93.52 on Friday. The company has a market cap of $43.12 billion, a price-to-earnings ratio of 7.99, a price-to-earnings-growth ratio of 1.28 and a beta of 0.94. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.28 and a quick ratio of 0.82. Phillips 66 has a one year low of $78.44 and a one year high of $123.97.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Tuesday, February 19th will be paid a $0.80 dividend. The ex-dividend date is Friday, February 15th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.42%. Phillips 66’s dividend payout ratio (DPR) is currently 27.33%.
In other news, Director J Brian Ferguson purchased 21,500 shares of the company’s stock in a transaction dated Tuesday, November 20th. The shares were purchased at an average cost of $92.31 per share, for a total transaction of $1,984,665.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.56% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in shares of Phillips 66 by 13.6% in the 3rd quarter. BlackRock Inc. now owns 33,103,803 shares of the oil and gas company’s stock worth $3,731,461,000 after buying an additional 3,956,900 shares during the last quarter. Vanguard Group Inc boosted its stake in shares of Phillips 66 by 2.8% in the 3rd quarter. Vanguard Group Inc now owns 32,998,567 shares of the oil and gas company’s stock worth $3,719,598,000 after buying an additional 885,979 shares during the last quarter. FMR LLC raised its holdings in Phillips 66 by 9.0% in the 2nd quarter. FMR LLC now owns 14,400,087 shares of the oil and gas company’s stock worth $1,617,273,000 after purchasing an additional 1,188,567 shares during the period. Wells Fargo & Company MN raised its holdings in Phillips 66 by 0.5% in the 3rd quarter. Wells Fargo & Company MN now owns 8,468,401 shares of the oil and gas company’s stock worth $954,557,000 after purchasing an additional 39,493 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in Phillips 66 by 0.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 6,429,513 shares of the oil and gas company’s stock worth $724,735,000 after purchasing an additional 36,370 shares during the period. Hedge funds and other institutional investors own 70.76% of the company’s stock.
About Phillips 66
Phillips 66 operates as an energy manufacturing and logistics company. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks, delivers refined products to market, and provides terminaling and storage services for crude oil and petroleum products; transports, stores, fractionates, and markets natural gas liquids, exports LPG, and provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.
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