Phillips 66 (PSX) Receiving Somewhat Positive Press Coverage, Study Finds
Media stories about Phillips 66 (NYSE:PSX) have trended somewhat positive recently, Accern Sentiment reports. Accern scores the sentiment of news coverage by analyzing more than 20 million news and blog sources in real-time. Accern ranks coverage of companies on a scale of negative one to one, with scores closest to one being the most favorable. Phillips 66 earned a news impact score of 0.08 on Accern’s scale. Accern also gave headlines about the oil and gas company an impact score of 45.7427314837127 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the next few days.
These are some of the news headlines that may have impacted Accern Sentiment’s scoring:
- Stull, Stull & Brody is Investigating Claims on Behalf of Phillips 66’s (NYSE:PSX) 401(k) Plan – GlobeNewswire (press release) (globenewswire.com)
- Stull, Stull & Brody is Investigating Claims on Behalf of Phillips 66’s (NYSE:PSX) 401(k) Plan (finance.yahoo.com)
- Phillips 66 : PSX-US: Dividend Analysis : November 17th, 2017 (record date) : By the numbers : November 17, 2017 (finance.yahoo.com)
- UBS AG Increases Phillips 66 (PSX) Price Target to $92.00 (americanbankingnews.com)
- Cash Dividend On The Way From Phillips 66 (PSX) – Nasdaq (nasdaq.com)
Shares of Phillips 66 (NYSE PSX) traded up $1.12 on Tuesday, hitting $93.74. 570,344 shares of the company’s stock were exchanged, compared to its average volume of 2,220,884. Phillips 66 has a 1-year low of $75.14 and a 1-year high of $95.00. The firm has a market capitalization of $46,930.00, a PE ratio of 26.70, a PEG ratio of 2.38 and a beta of 1.20. The company has a current ratio of 1.31, a quick ratio of 0.86 and a debt-to-equity ratio of 0.40.
Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Friday, October 27th. The oil and gas company reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.04. Phillips 66 had a net margin of 2.11% and a return on equity of 7.58%. The business had revenue of $26.21 billion during the quarter, compared to analysts’ expectations of $29.94 billion. During the same period last year, the business earned $1.05 earnings per share. equities analysts forecast that Phillips 66 will post 4.58 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Tuesday, October 17th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date is Thursday, November 16th. Phillips 66’s dividend payout ratio is presently 70.53%.
Phillips 66 announced that its Board of Directors has authorized a share repurchase plan on Monday, October 9th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the oil and gas company to repurchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.
PSX has been the topic of several research reports. UBS AG raised their price target on shares of Phillips 66 from $85.00 to $92.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 15th. BidaskClub downgraded shares of Phillips 66 from a “hold” rating to a “sell” rating in a research note on Friday, August 18th. Vetr downgraded shares of Phillips 66 from a “buy” rating to a “hold” rating and set a $97.16 price target on the stock. in a research note on Thursday, November 2nd. Jefferies Group LLC downgraded shares of Phillips 66 from a “hold” rating to an “underperform” rating and decreased their price target for the stock from $95.00 to $75.14 in a research note on Monday, October 16th. Finally, Scotiabank set a $86.00 price target on shares of Phillips 66 and gave the stock a “hold” rating in a research note on Tuesday, August 1st. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company’s stock. Phillips 66 presently has a consensus rating of “Hold” and an average target price of $93.25.
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In other Phillips 66 news, VP Chukwuemeka A. Oyolu sold 1,151 shares of Phillips 66 stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $89.08, for a total transaction of $102,531.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.50% of the stock is owned by company insiders.
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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