A number of other brokerages have also weighed in on PSX. Barclays PLC reiterated an equal weight rating and issued a $89.00 price target (up previously from $87.00) on shares of Phillips 66 in a report on Wednesday, August 2nd. Jefferies Group LLC reiterated a hold rating and issued a $78.00 price target on shares of Phillips 66 in a report on Tuesday, September 5th. TheStreet upgraded shares of Phillips 66 from a c rating to a b- rating in a report on Friday, June 30th. Zacks Investment Research lowered shares of Phillips 66 from a hold rating to a sell rating in a report on Wednesday, July 12th. Finally, Piper Jaffray Companies reiterated a buy rating and issued a $84.00 price target on shares of Phillips 66 in a report on Friday, July 14th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $83.93.
Shares of Phillips 66 (PSX) opened at 85.19 on Friday. The firm has a 50-day moving average price of $83.80 and a 200-day moving average price of $80.21. The stock has a market cap of $43.58 billion, a price-to-earnings ratio of 25.48 and a beta of 1.20. Phillips 66 has a 12 month low of $75.14 and a 12 month high of $88.87.
Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Tuesday, August 1st. The oil and gas company reported $1.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.07. The company had revenue of $24.58 billion for the quarter, compared to analyst estimates of $25.14 billion. Phillips 66 had a net margin of 1.87% and a return on equity of 6.29%. During the same quarter last year, the business earned $0.94 EPS. Equities analysts expect that Phillips 66 will post $4.15 EPS for the current fiscal year.
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The firm also recently announced a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 18th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date of this dividend was Wednesday, August 16th. Phillips 66’s dividend payout ratio is presently 83.58%.
A number of institutional investors have recently added to or reduced their stakes in PSX. Jacobi Capital Management LLC increased its stake in Phillips 66 by 27.4% during the 1st quarter. Jacobi Capital Management LLC now owns 1,288 shares of the oil and gas company’s stock worth $100,000 after buying an additional 277 shares during the period. Winch Advisory Services LLC increased its stake in Phillips 66 by 5,872.7% during the 1st quarter. Winch Advisory Services LLC now owns 1,314 shares of the oil and gas company’s stock worth $104,000 after buying an additional 1,292 shares during the period. Motco increased its stake in Phillips 66 by 4.0% during the 2nd quarter. Motco now owns 1,309 shares of the oil and gas company’s stock worth $108,000 after buying an additional 50 shares during the period. Westside Investment Management Inc. increased its stake in Phillips 66 by 239.2% during the 1st quarter. Westside Investment Management Inc. now owns 1,418 shares of the oil and gas company’s stock worth $110,000 after buying an additional 1,000 shares during the period. Finally, Bruderman Asset Management LLC purchased a new stake in Phillips 66 during the 2nd quarter worth $112,000. 69.57% of the stock is currently owned by hedge funds and other institutional investors.
About Phillips 66
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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