A number of other brokerages have also recently issued reports on PSX. TheStreet raised shares of Phillips 66 from a c rating to a b- rating in a research note on Friday, April 28th. US Capital Advisors reaffirmed a buy rating on shares of Phillips 66 in a research note on Monday, May 22nd. Piper Jaffray Companies reaffirmed a buy rating and set a $84.00 target price on shares of Phillips 66 in a research note on Friday, July 14th. Zacks Investment Research cut shares of Phillips 66 from a hold rating to a sell rating in a research note on Wednesday, July 12th. Finally, Jefferies Group LLC set a $74.00 target price on shares of Phillips 66 and gave the company a hold rating in a research note on Wednesday, April 19th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $83.53.
Shares of Phillips 66 (NYSE PSX) opened at 81.56 on Tuesday. The stock’s 50 day moving average is $83.33 and its 200 day moving average is $79.81. Phillips 66 has a 52 week low of $75.14 and a 52 week high of $88.87. The stock has a market cap of $41.72 billion, a price-to-earnings ratio of 24.39 and a beta of 1.22.
Phillips 66 (NYSE:PSX) last announced its earnings results on Tuesday, August 1st. The oil and gas company reported $1.09 EPS for the quarter, beating the Zacks’ consensus estimate 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 analysts’ expectations of $25.14 billion. During the same period in the prior year, the company earned $0.94 earnings per share. On average, equities analysts forecast that Phillips 66 will post $4.02 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 18th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date is Wednesday, August 16th. Phillips 66’s dividend payout ratio (DPR) is 83.58%.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Jacobi Capital Management LLC increased its position in shares of 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 worth $100,000 after buying an additional 277 shares during the last quarter. Winch Advisory Services LLC increased its position in shares of 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 worth $104,000 after buying an additional 1,292 shares during the last quarter. Motco increased its position in shares of Phillips 66 by 4.0% in the second quarter. Motco now owns 1,309 shares of the oil and gas company’s stock worth $108,000 after buying an additional 50 shares during the last quarter. Westside Investment Management Inc. increased its position in shares of 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 worth $110,000 after buying an additional 1,000 shares during the last quarter. Finally, Bruderman Asset Management LLC purchased a new position in shares of Phillips 66 during the second quarter worth about $112,000. 69.57% of the stock is currently owned by institutional investors and hedge funds.
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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