Phillips 66 (NYSE:PSX) Receives Average Recommendation of “Hold” from Brokerages
Shares of Phillips 66 (NYSE:PSX) have been assigned an average recommendation of “Hold” from the twenty-two brokerages that are currently covering the stock. Fourteen research analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $84.24.
A number of equities analysts recently weighed in on the company. JPMorgan Chase & Co. reissued a “hold” rating on shares of Phillips 66 in a report on Sunday, June 12th. Morgan Stanley reissued a “hold” rating on shares of Phillips 66 in a report on Monday, August 1st. Zacks Investment Research raised Phillips 66 from a “strong sell” rating to a “hold” rating in a report on Wednesday, September 28th. Vetr raised Phillips 66 from a “buy” rating to a “strong-buy” rating and set a $87.87 price objective on the stock in a report on Monday, September 12th. Finally, Scotiabank lowered Phillips 66 from an “outperform” rating to a “sector perform” rating and reduced their price target for the stock from $90.00 to $89.00 in a research report on Monday, July 11th.
In related news, major shareholder Berkshire Hathaway Inc acquired 215,869 shares of the stock in a transaction on Tuesday, August 23rd. The stock was acquired at an average price of $77.83 per share, for a total transaction of $16,801,084.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.05% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in PSX. Stillwater Investment Management LLC boosted its position in shares of Phillips 66 by 3.0% in the third quarter. Stillwater Investment Management LLC now owns 15,217 shares of the company’s stock worth $1,226,000 after buying an additional 438 shares during the last quarter. Telemus Capital LLC boosted its position in Phillips 66 by 17.5% in the third quarter. Telemus Capital LLC now owns 3,064 shares of the company’s stock valued at $247,000 after buying an additional 456 shares in the last quarter. Burke & Herbert Bank & Trust Co. boosted its position in Phillips 66 by 29.7% in the third quarter. Burke & Herbert Bank & Trust Co. now owns 3,840 shares of the company’s stock valued at $310,000 after buying an additional 879 shares in the last quarter. New England Research & Management Inc. boosted its position in Phillips 66 by 5.8% in the third quarter. New England Research & Management Inc. now owns 5,500 shares of the company’s stock valued at $443,000 after buying an additional 300 shares in the last quarter. Finally, Curbstone Financial Management Corp boosted its position in Phillips 66 by 40.1% in the third quarter. Curbstone Financial Management Corp now owns 11,704 shares of the company’s stock valued at $943,000 after buying an additional 3,350 shares in the last quarter. Institutional investors and hedge funds own 69.98% of the company’s stock.
Shares of Phillips 66 (NYSE:PSX) traded down 0.20% during trading on Thursday, reaching $80.93. The company’s stock had a trading volume of 1,152,430 shares. The stock has a market cap of $42.31 billion, a price-to-earnings ratio of 14.01 and a beta of 1.37. The stock’s 50 day moving average price is $79.04 and its 200-day moving average price is $80.20. 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 earnings per share for the quarter, beating the Zacks’ 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 quarter in the previous year, the business posted $1.83 EPS. Equities analysts anticipate that Phillips 66 will post $3.40 EPS for the current year.
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.
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