Phillips 66 (PSX) Receives $84.10 Average PT from Analysts
Shares of Phillips 66 (NYSE:PSX) have received a consensus rating of “Hold” from the twenty-two research firms that are currently covering the company. Fourteen analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $84.10.
A number of research firms have recently commented on PSX. Vetr cut shares of Phillips 66 from a “strong-buy” rating to a “buy” rating and set a $87.77 target price for the company. in a research note on Monday, September 19th. Piper Jaffray Cos. boosted their target price on shares of Phillips 66 from $68.00 to $74.00 and gave the stock a “neutral” rating in a research note on Monday, August 22nd. TheStreet cut shares of Phillips 66 from a “buy” rating to a “hold” rating in a research note on Thursday, July 21st. Barclays PLC reissued an “equal weight” rating and set a $84.00 target price (down previously from $86.00) on shares of Phillips 66 in a research note on Monday, October 10th. Finally, Jefferies Group set a $72.00 target price on shares of Phillips 66 and gave the stock a “hold” rating in a research note on Saturday, October 15th.
In related news, Chairman Greg C. Garland sold 76,165 shares of the company’s stock in a transaction that occurred on Thursday, November 10th. The shares were sold at an average price of $83.48, for a total transaction of $6,358,254.20. Following the sale, the chairman now directly owns 96,325 shares of the company’s stock, valued at approximately $8,041,211. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Berkshire Hathaway Inc bought 290,116 shares of the business’s stock in a transaction that occurred on Monday, August 22nd. The shares were acquired at an average cost of $77.04 per share, for a total transaction of $22,350,536.64. The disclosure for this purchase can be found here. Corporate insiders own 0.05% of the company’s stock.
A number of large investors have recently made changes to their positions in the company. Avalon Advisors LLC increased its stake in shares of Phillips 66 by 42.0% in the first quarter. Avalon Advisors LLC now owns 13,338 shares of the company’s stock worth $1,155,000 after buying an additional 3,947 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Phillips 66 by 2.2% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 52,846 shares of the company’s stock worth $4,569,000 after buying an additional 1,155 shares in the last quarter. Squarepoint Ops LLC increased its stake in shares of Phillips 66 by 58.4% in the first quarter. Squarepoint Ops LLC now owns 31,269 shares of the company’s stock worth $2,708,000 after buying an additional 11,531 shares in the last quarter. Seven Eight Capital LLC increased its stake in shares of Phillips 66 by 88.0% in the first quarter. Seven Eight Capital LLC now owns 14,096 shares of the company’s stock worth $1,221,000 after buying an additional 6,600 shares in the last quarter. Finally, Arizona State Retirement System increased its stake in shares of Phillips 66 by 0.3% in the first quarter. Arizona State Retirement System now owns 185,587 shares of the company’s stock worth $16,070,000 after buying an additional 600 shares in the last quarter. 69.64% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Phillips 66 (NYSE:PSX) opened at 83.36 on Thursday. The company has a market cap of $43.42 billion, a P/E ratio of 21.83 and a beta of 1.35. Phillips 66 has a 52 week low of $71.74 and a 52 week high of $94.06. The firm has a 50-day moving average of $80.33 and a 200 day moving average of $78.89.
Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Friday, October 28th. The company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.17. Phillips 66 had a net margin of 2.43% and a return on equity of 8.86%. During the same period in the previous year, the business earned $3.02 earnings per share. Equities analysts expect that Phillips 66 will post $3.42 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Thursday, November 17th will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 3.02%. The ex-dividend date of this dividend is Tuesday, November 15th. Phillips 66’s payout ratio is currently 66.14%.
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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