Phillips 66 (NYSE:PSX) Given Average Recommendation of “Buy” by Brokerages
Shares of Phillips 66 (NYSE:PSX) have been given an average rating of “Buy” by the twenty research firms that are covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $91.81.
PSX has been the subject of several recent analyst reports. Barclays reiterated a “buy” rating and set a $94.00 price objective on shares of Phillips 66 in a research note on Wednesday, April 8th. Morgan Stanley increased their target price on Phillips 66 from $68.00 to $95.00 and gave the stock an “overweight” rating in a report on Wednesday, May 13th. Royal Bank of Canada upgraded Phillips 66 from a “sector perform” rating to an “outperform” rating and set a $67.00 target price on the stock in a report on Sunday, March 29th. Jefferies Financial Group cut Phillips 66 from a “buy” rating to a “hold” rating and set a $78.00 target price on the stock. in a report on Tuesday, June 23rd. Finally, ValuEngine upgraded Phillips 66 from a “sell” rating to a “hold” rating in a report on Monday, June 1st.
Phillips 66 stock opened at $68.42 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.11 and a quick ratio of 0.61. The stock has a fifty day moving average price of $76.43 and a two-hundred day moving average price of $79.75. Phillips 66 has a 52-week low of $40.04 and a 52-week high of $119.92. The firm has a market capitalization of $29.88 billion, a P/E ratio of 100.62, a P/E/G ratio of 5.08 and a beta of 1.60.
In related news, Director John E. Lowe bought 1,500 shares of the business’s stock in a transaction on Friday, June 26th. The shares were purchased at an average price of $68.43 per share, with a total value of $102,645.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gary Kramer Adams bought 1,250 shares of the business’s stock in a transaction on Tuesday, May 5th. The stock was bought at an average cost of $76.40 per share, for a total transaction of $95,500.00. Following the purchase, the director now directly owns 10,213 shares of the company’s stock, valued at approximately $780,273.20. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 3,750 shares of company stock worth $268,305. 0.63% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in PSX. Norges Bank acquired a new stake in shares of Phillips 66 during the fourth quarter worth about $506,457,000. State Street Corp raised its position in shares of Phillips 66 by 7.7% during the first quarter. State Street Corp now owns 24,392,064 shares of the oil and gas company’s stock worth $1,308,634,000 after purchasing an additional 1,749,706 shares during the period. Renaissance Technologies LLC raised its position in shares of Phillips 66 by 824.9% during the fourth quarter. Renaissance Technologies LLC now owns 1,922,902 shares of the oil and gas company’s stock worth $214,231,000 after purchasing an additional 1,715,002 shares during the period. BlackRock Inc. raised its position in shares of Phillips 66 by 3.9% during the first quarter. BlackRock Inc. now owns 31,599,517 shares of the oil and gas company’s stock worth $1,695,316,000 after purchasing an additional 1,188,569 shares during the period. Finally, APG Asset Management N.V. raised its position in shares of Phillips 66 by 60.6% during the first quarter. APG Asset Management N.V. now owns 2,612,596 shares of the oil and gas company’s stock worth $221,437,000 after purchasing an additional 985,864 shares during the period. 66.88% of the stock is currently owned by institutional investors.
About Phillips 66
Phillips 66 operates as an energy manufacturing and logistics company. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks; delivers refined products to market; provides terminaling and storage services for crude oil and petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.
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