Phillips 66 (PSX) Upgraded to “Neutral” at Goldman Sachs Group Inc.
Several other research firms have also recently weighed in on PSX. JPMorgan Chase & Co. cut their price objective on Phillips 66 from $80.00 to $79.00 and set a neutral rating on the stock in a research report on Friday, June 10th. Vetr cut Phillips 66 from a strong-buy rating to a buy rating and set a $89.00 price objective on the stock. in a research report on Tuesday, July 5th. Zacks Investment Research lowered Phillips 66 from a hold rating to a strong sell rating in a research note on Monday, July 4th. Morgan Stanley lowered Phillips 66 from an overweight rating to an equal weight rating and lowered their target price for the company from $105.00 to $90.00 in a research note on Friday, June 17th. Finally, TheStreet upgraded Phillips 66 from a hold rating to a buy rating in a research note on Monday, August 29th. Fourteen equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of Hold and an average target price of $85.86.
Phillips 66 (NYSE:PSX) traded up 1.20% during trading on Thursday, reaching $80.23. The company’s stock had a trading volume of 615,180 shares. Phillips 66 has a 12 month low of $71.74 and a 12 month high of $94.12. The stock has a market cap of $41.95 billion, a PE ratio of 13.89 and a beta of 1.38. The company’s 50-day moving average is $78.80 and its 200-day moving average is $80.46.
Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, July 29th. The company reported $0.94 earnings per share for the quarter, topping 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 company earned $1.83 EPS. Equities analysts expect that Phillips 66 will post $3.40 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Thursday, August 18th were given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date of this dividend was Tuesday, August 16th. Phillips 66’s dividend payout ratio (DPR) is presently 43.83%.
In related news, major shareholder Berkshire Hathaway Inc acquired 215,869 shares of Phillips 66 stock in a transaction that occurred on Tuesday, August 23rd. The stock was bought at an average price of $77.83 per share, with a total value of $16,801,084.27. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.05% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Cognios Capital LLC increased its stake in shares of Phillips 66 by 0.3% in the second quarter. Cognios Capital LLC now owns 2,754 shares of the company’s stock valued at $218,000 after buying an additional 9 shares in the last quarter. LVW Advisors LLC increased its stake in shares of Phillips 66 by 0.3% in the first quarter. LVW Advisors LLC now owns 3,049 shares of the company’s stock valued at $264,000 after buying an additional 10 shares in the last quarter. Benedict Financial Advisors Inc. increased its stake in shares of Phillips 66 by 0.4% in the second quarter. Benedict Financial Advisors Inc. now owns 2,685 shares of the company’s stock valued at $214,000 after buying an additional 12 shares in the last quarter. Beese Fulmer Investment Management Inc. increased its stake in shares of Phillips 66 by 0.3% in the second quarter. Beese Fulmer Investment Management Inc. now owns 3,806 shares of the company’s stock valued at $302,000 after buying an additional 13 shares in the last quarter. Finally, Ropes Wealth Advisors LLC increased its stake in shares of Phillips 66 by 0.6% in the first quarter. Ropes Wealth Advisors LLC now owns 2,372 shares of the company’s stock valued at $205,000 after buying an additional 15 shares in the last quarter. 69.98% of the stock is owned by institutional investors.
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.
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