Brokerages Set Phillips 66 (PSX) Price Target at $83.70
Phillips 66 (NYSE:PSX) has received a consensus recommendation of “Hold” from the fourteen ratings firms that are covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $83.70.
A number of analysts have commented on the company. Jefferies Group LLC set a $74.00 price objective on Phillips 66 and gave the stock a “hold” rating in a report on Saturday, June 3rd. Barclays PLC reaffirmed an “equal weight” rating and issued a $89.00 target price (up from $87.00) on shares of Phillips 66 in a report on Wednesday, August 2nd. BidaskClub lowered Phillips 66 from a “hold” rating to a “sell” rating in a report on Friday, August 18th. Scotiabank reaffirmed a “hold” rating on shares of Phillips 66 in a report on Friday, September 8th. Finally, TheStreet lowered Phillips 66 from a “b-” rating to a “c” rating in a report on Monday, June 5th.
Phillips 66 (NYSE PSX) traded up 1.66% during mid-day trading on Wednesday, hitting $87.67. The stock had a trading volume of 4,363,635 shares. The stock has a market cap of $44.84 billion, a PE ratio of 26.23 and a beta of 1.20. The firm’s 50-day moving average price is $84.14 and its 200-day moving average price is $80.45. Phillips 66 has a 1-year low of $75.14 and a 1-year high of $88.87.
Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Tuesday, August 1st. The oil and gas company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.07. The firm had revenue of $24.58 billion during the quarter, compared to analyst estimates of $25.14 billion. Phillips 66 had a return on equity of 6.29% and a net margin of 1.87%. During the same period in the previous year, the company posted $0.94 EPS. On average, equities analysts expect that Phillips 66 will post $4.20 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Friday, August 18th were paid a $0.70 dividend. The ex-dividend date was Wednesday, August 16th. This represents a $2.80 annualized dividend and a yield of 3.19%. Phillips 66’s payout ratio is 83.58%.
Institutional investors have recently bought and sold shares of the stock. 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 purchasing an additional 277 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 purchasing an additional 50 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 purchasing an additional 1,292 shares during the last quarter. Ffcm LLC purchased a new position in Phillips 66 in the second quarter valued at approximately $113,000. Finally, Bruderman Asset Management LLC purchased a new position in Phillips 66 in the second quarter valued at approximately $112,000. Institutional investors and hedge funds own 69.57% of the company’s stock.
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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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