Phillips 66 (PSX) Stock Rating Reaffirmed by Jefferies Group LLC
Phillips 66 (NYSE:PSX)‘s stock had its “hold” rating restated by equities researchers at Jefferies Group LLC in a note issued to investors on Tuesday. They presently have a $78.00 price target on the oil and gas company’s stock. Jefferies Group LLC’s price objective indicates a potential downside of 6.43% from the company’s previous close.
Other equities analysts have also recently issued research reports about the company. US Capital Advisors reaffirmed a “buy” rating on shares of Phillips 66 in a report on Monday, May 22nd. Piper Jaffray Companies reissued a “buy” rating and issued a $84.00 target price on shares of Phillips 66 in a report on Friday, July 14th. Zacks Investment Research cut Phillips 66 from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. TheStreet raised Phillips 66 from a “c” rating to a “b-” rating in a report on Friday, June 30th. Finally, Scotiabank reaffirmed a “hold” rating and set a $86.00 price target on shares of Phillips 66 in a report on Tuesday, June 27th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $83.93.
Phillips 66 (NYSE:PSX) opened at 83.36 on Tuesday. Phillips 66 has a 1-year low of $75.14 and a 1-year high of $88.87. The stock has a 50 day moving average price of $83.67 and a 200 day moving average price of $80.12. The firm has a market capitalization of $42.64 billion, a price-to-earnings ratio of 24.93 and a beta of 1.20.
Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Tuesday, August 1st. The oil and gas company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.07. The company had revenue of $24.58 billion during the quarter, compared to the consensus estimate of $25.14 billion. Phillips 66 had a return on equity of 6.29% and a net margin of 1.87%. During the same quarter in the prior year, the company posted $0.94 EPS. Analysts predict that Phillips 66 will post $4.02 EPS for the current year.
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A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in Phillips 66 by 0.4% during the second quarter. Vanguard Group Inc. now owns 31,826,155 shares of the oil and gas company’s stock valued at $2,631,704,000 after purchasing an additional 130,653 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Phillips 66 by 0.7% during the second quarter. BlackRock Inc. now owns 28,025,035 shares of the oil and gas company’s stock worth $2,317,389,000 after buying an additional 203,138 shares in the last quarter. State Street Corp increased its holdings in shares of Phillips 66 by 4.0% during the first quarter. State Street Corp now owns 24,085,903 shares of the oil and gas company’s stock worth $1,908,079,000 after buying an additional 921,895 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its holdings in Phillips 66 by 4.3% in the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 14,349,815 shares of the oil and gas company’s stock valued at $1,136,792,000 after purchasing an additional 585,176 shares during the period. Finally, Wells Fargo & Company MN increased its holdings in Phillips 66 by 0.9% in the second quarter. Wells Fargo & Company MN now owns 8,422,039 shares of the oil and gas company’s stock valued at $696,418,000 after purchasing an additional 71,098 shares during the period. Institutional investors and hedge funds own 69.57% 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 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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