Phillips 66 (PSX) Given “Equal Weight” Rating at Barclays PLC
Phillips 66 (NYSE:PSX)‘s stock had its “equal weight” rating restated by Barclays PLC in a note issued to investors on Monday. They presently have a $84.00 price target on the stock, down from their prior price target of $86.00. Barclays PLC’s target price would indicate a potential upside of 3.32% from the stock’s previous close.
A number of other research analysts also recently issued reports on PSX. JPMorgan Chase & Co. restated a “hold” rating on shares of Phillips 66 in a research report on Sunday, June 12th. Morgan Stanley reaffirmed a “hold” rating on shares of Phillips 66 in a report on Monday, August 1st. Zacks Investment Research raised shares of Phillips 66 from a “strong sell” rating to a “hold” rating in a report on Wednesday, September 28th. Vetr raised shares of Phillips 66 from a “buy” rating to a “strong-buy” rating and set a $87.87 price objective for the company in a report on Monday, September 12th. Finally, Scotiabank cut shares of Phillips 66 from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from $90.00 to $89.00 in a report on Monday, July 11th. Fourteen research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Phillips 66 currently has a consensus rating of “Hold” and a consensus target price of $86.12.
Shares of Phillips 66 (NYSE:PSX) traded up 1.13% on Monday, hitting $81.30. 1,338,460 shares of the company were exchanged. The firm’s 50-day moving average is $79.23 and its 200-day moving average is $79.95. The stock has a market capitalization of $42.51 billion, a PE ratio of 14.07 and a beta of 1.37. Phillips 66 has a 52-week low of $71.74 and a 52-week high of $94.12.
Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, July 29th. The company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 quarter in the prior year, the firm earned $1.83 earnings per share. Equities research analysts predict that Phillips 66 will post $3.41 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Thursday, November 17th will be issued a $0.63 dividend. The ex-dividend date is Tuesday, November 15th. This represents a $2.52 annualized dividend and a yield of 3.10%. Phillips 66’s payout ratio is 43.83%.
In other news, major shareholder Berkshire Hathaway Inc bought 83,466 shares of the firm’s stock in a transaction on Thursday, August 25th. The shares were bought at an average cost of $78.29 per share, for a total transaction of $6,534,553.14. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.05% of the stock is currently owned by company insiders.
A number of institutional investors have recently bought and sold shares of the stock. State Street Corp raised its position in Phillips 66 by 1.5% in the first quarter. State Street Corp now owns 23,555,046 shares of the company’s stock valued at $2,039,627,000 after buying an additional 358,052 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its position in Phillips 66 by 3.3% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 14,562,698 shares of the company’s stock valued at $1,155,404,000 after buying an additional 459,964 shares during the last quarter. BlackRock Fund Advisors raised its position in Phillips 66 by 6.9% in the second quarter. BlackRock Fund Advisors now owns 7,109,567 shares of the company’s stock valued at $564,073,000 after buying an additional 457,220 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Phillips 66 by 1.8% in the second quarter. Dimensional Fund Advisors LP now owns 5,145,924 shares of the company’s stock valued at $408,293,000 after buying an additional 91,054 shares during the last quarter. Finally, Aristotle Capital Management LLC raised its position in Phillips 66 by 2.1% in the second quarter. Aristotle Capital Management LLC now owns 3,050,325 shares of the company’s stock valued at $242,013,000 after buying an additional 63,601 shares during 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.
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