Phillips 66 (NYSE:PSX) was upgraded by stock analysts at Vetr from a “buy” rating to a “strong-buy” rating in a research report issued on Tuesday. The firm currently has a $94.28 target price on the stock. Vetr‘s price objective would suggest a potential upside of 18.73% from the company’s previous close.
Several other analysts have also commented on the stock. Piper Jaffray Cos. lifted their price objective on shares of Phillips 66 from $74.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, September 16th. TheStreet raised shares of Phillips 66 from a “hold” rating to a “buy” rating in a research report on Monday, August 29th. Jefferies Group assumed coverage on shares of Phillips 66 in a research report on Tuesday, August 23rd. They issued a “hold” rating and a $72.00 price objective on the stock. Cowen and Company raised shares of Phillips 66 from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $76.15 to $92.00 in a research report on Wednesday, August 3rd. Finally, Morgan Stanley reaffirmed a “hold” rating on shares of Phillips 66 in a research report on Monday, August 1st. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $85.86.
Shares of Phillips 66 (NYSE:PSX) traded down 0.08% during mid-day trading on Tuesday, hitting $79.41. 2,274,587 shares of the stock were exchanged. The stock has a market capitalization of $41.52 billion, a price-to-earnings ratio of 13.75 and a beta of 1.38. The stock’s 50-day moving average is $78.61 and its 200-day moving average is $80.46. Phillips 66 has a 52 week low of $71.74 and a 52 week high of $94.12.
Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Friday, July 29th. The company reported $0.94 EPS for the quarter, topping the 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 period last year, the business earned $1.83 EPS. Analysts forecast that Phillips 66 will post $3.38 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Thursday, August 18th were issued a $0.63 dividend. The ex-dividend date of this dividend was Tuesday, August 16th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.17%. Phillips 66’s payout ratio is 43.83%.
In other news, VP Paula Ann Johnson sold 40,141 shares of the business’s stock in a transaction that occurred on Wednesday, June 29th. The shares were sold at an average price of $79.57, for a total value of $3,194,019.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Berkshire Hathaway Inc acquired 17,910 shares of the stock in a transaction dated Thursday, September 15th. The stock was acquired at an average price of $77.52 per share, with a total value of $1,388,383.20. The disclosure for this purchase can be found here. 0.05% of the stock is currently owned by insiders.
Several large investors have recently made changes to their positions in the company. Aperio Group LLC raised its stake in shares of Phillips 66 by 2.6% in the first quarter. Aperio Group LLC now owns 272,345 shares of the company’s stock worth $23,582,000 after buying an additional 6,903 shares during the last quarter. Commonwealth Equity Services Inc raised its stake in shares of Phillips 66 by 11.6% in the first quarter. Commonwealth Equity Services Inc now owns 201,707 shares of the company’s stock worth $17,466,000 after buying an additional 20,929 shares during the last quarter. River Wealth Advisors LLC raised its stake in shares of Phillips 66 by 0.4% in the first quarter. River Wealth Advisors LLC now owns 20,419 shares of the company’s stock worth $1,768,000 after buying an additional 83 shares during the last quarter. Arvest Bank Trust Division raised its stake in shares of Phillips 66 by 4.4% in the first quarter. Arvest Bank Trust Division now owns 58,558 shares of the company’s stock worth $5,071,000 after buying an additional 2,493 shares during the last quarter. Finally, Sanders Morris Harris Inc. acquired a new stake in shares of Phillips 66 during the first quarter worth $2,821,000. Hedge funds and other institutional investors own 69.98% of the company’s stock.
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 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.
To view Vetr’s full report, visit Vetr’s official website.
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