Barclays PLC reissued their equal weight rating on shares of Phillips 66 (NYSE:PSX) in a research report released on Monday. Barclays PLC currently has a $84.00 price target on the stock, down from their prior price target of $86.00.
PSX has been the topic of several other reports. Vetr upgraded Phillips 66 from a buy rating to a strong-buy rating and set a $87.87 target price on the stock in a report on Monday, September 12th. Piper Jaffray Cos. increased their price target on Phillips 66 from $68.00 to $74.00 and gave the stock a neutral rating in a report on Monday, August 22nd. TheStreet upgraded Phillips 66 from a hold rating to a buy rating in a report on Monday, August 29th. Jefferies Group began coverage on Phillips 66 in a report on Tuesday, August 23rd. They set a hold rating and a $72.00 price target on the stock. Finally, Goldman Sachs Group Inc. upgraded Phillips 66 from a sell rating to a neutral rating and increased their price target for the stock from $74.00 to $85.00 in a report on Thursday, September 29th. Fourteen research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of Hold and an average target price of $86.12.
Shares of Phillips 66 (NYSE:PSX) opened at 79.81 on Monday. The stock has a 50 day moving average of $79.45 and a 200-day moving average of $79.96. Phillips 66 has a 12-month low of $71.74 and a 12-month high of $94.12. The firm has a market capitalization of $41.73 billion, a P/E ratio of 13.82 and a beta of 1.37.
Phillips 66 (NYSE:PSX) last announced its earnings results on Friday, July 29th. The company reported $0.94 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.01. Phillips 66 had a return on equity of 13.44% and a net margin of 3.51%. During the same period in the previous year, the firm earned $1.83 EPS. On average, equities research analysts predict that Phillips 66 will post $3.41 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Thursday, November 17th will be paid a $0.63 dividend. The ex-dividend date is Tuesday, November 15th. This represents a $2.52 dividend on an annualized basis and a yield of 3.16%. Phillips 66’s dividend payout ratio (DPR) is presently 43.83%.
In other news, major shareholder Berkshire Hathaway Inc purchased 215,869 shares of the business’s stock in a transaction dated Tuesday, August 23rd. The stock was bought 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 SEC, which is accessible through the SEC website. 0.05% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Cribstone Capital Management LLC purchased a new position in Phillips 66 during the second quarter valued at $114,000. Harel Insurance Investments & Financial Services Ltd. increased its position in shares of Phillips 66 by 2,762.7% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,460 shares of the company’s stock valued at $138,000 after buying an additional 1,409 shares in the last quarter. Delphi Private Advisors LLC increased its position in shares of Phillips 66 by 1.0% in the second quarter. Delphi Private Advisors LLC now owns 1,781 shares of the company’s stock valued at $141,000 after buying an additional 18 shares in the last quarter. Farmers National Bank bought a new position in shares of Phillips 66 during the second quarter valued at approximately $141,000. Finally, Bruderman Asset Management LLC increased its position in shares of Phillips 66 by 3.1% in the second quarter. Bruderman Asset Management LLC now owns 1,850 shares of the company’s stock valued at $147,000 after buying an additional 56 shares in the last quarter. Institutional investors 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.
Receive News & Ratings for Phillips 66 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Phillips 66 and related companies with MarketBeat.com's FREE daily email newsletter.