Phillips 66 (PSX) Earns Hold Rating from Scotiabank
A number of other research firms also recently commented on PSX. US Capital Advisors reaffirmed a buy rating on shares of Phillips 66 in a report on Monday, May 22nd. Piper Jaffray Companies reaffirmed an overweight rating and issued a $88.00 price objective on shares of Phillips 66 in a report on Thursday, May 25th. Jefferies Group LLC set a $74.00 price objective on shares of Phillips 66 and gave the stock a hold rating in a report on Saturday, June 3rd. TheStreet downgraded shares of Phillips 66 from a b- rating to a c rating in a report on Monday, June 5th. Finally, BidaskClub raised shares of Phillips 66 from a strong sell rating to a sell rating in a report on Tuesday, June 13th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $83.93.
Shares of Phillips 66 (NYSE:PSX) opened at 84.70 on Friday. Phillips 66 has a 12 month low of $75.14 and a 12 month high of $88.87. The stock’s 50 day moving average is $83.77 and its 200 day moving average is $80.18. The stock has a market cap of $43.32 billion, a P/E ratio of 25.33 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 for the quarter, topping analysts’ consensus estimates of $1.02 by $0.07. Phillips 66 had a net margin of 1.87% and a return on equity of 6.29%. The business had revenue of $24.58 billion during the quarter, compared to the consensus estimate of $25.14 billion. During the same quarter last year, the company earned $0.94 earnings per share. Analysts predict that Phillips 66 will post $4.07 earnings per share for the current fiscal year.
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The business also recently announced a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 18th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date of this dividend was Wednesday, August 16th. Phillips 66’s payout ratio is 83.58%.
A number of hedge funds have recently bought and sold shares of PSX. Jacobi Capital Management LLC lifted its stake in Phillips 66 by 27.4% in the first quarter. Jacobi Capital Management LLC now owns 1,288 shares of the oil and gas company’s stock valued at $100,000 after buying an additional 277 shares during the last quarter. Winch Advisory Services LLC lifted its stake in Phillips 66 by 5,872.7% in the first quarter. Winch Advisory Services LLC now owns 1,314 shares of the oil and gas company’s stock valued at $104,000 after buying an additional 1,292 shares during the last quarter. Motco lifted its stake in Phillips 66 by 4.0% in the second quarter. Motco now owns 1,309 shares of the oil and gas company’s stock valued at $108,000 after buying an additional 50 shares during the last quarter. Westside Investment Management Inc. lifted its stake in Phillips 66 by 239.2% in the first quarter. Westside Investment Management Inc. now owns 1,418 shares of the oil and gas company’s stock valued at $110,000 after buying an additional 1,000 shares during the last quarter. Finally, Bruderman Asset Management LLC bought a new stake in Phillips 66 in the second quarter valued at $112,000. Institutional investors own 69.57% of the company’s stock.
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 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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