Phillips 66 (NYSE:PSX) has been given a consensus recommendation of “Hold” by the twenty-two brokerages that are covering the company. Fourteen research analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $84.24.
Several equities analysts have weighed in on PSX shares. Vetr cut Phillips 66 from a “strong-buy” rating to a “buy” rating and set a $89.00 price target for the company. in a report on Tuesday, July 5th. TheStreet upgraded Phillips 66 from a “hold” rating to a “buy” rating in a report on Monday, August 29th. Morgan Stanley cut Phillips 66 from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $105.00 to $90.00 in a report on Friday, June 17th. Finally, Barclays PLC cut Phillips 66 from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $93.00 to $86.00 in a report on Wednesday, July 13th.
In related news, major shareholder Berkshire Hathaway Inc purchased 17,910 shares of Phillips 66 stock in a transaction dated Thursday, September 15th. The stock was purchased at an average cost of $77.52 per share, with a total value of $1,388,383.20. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 0.05% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in PSX. Cribstone Capital Management LLC acquired a new position in shares of Phillips 66 during the second quarter valued at about $114,000. Harel Insurance Investments & Financial Services Ltd. raised its position in shares of Phillips 66 by 2,762.7% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,460 shares of the company’s stock valued at $138,000 after buying an additional 1,409 shares in the last quarter. Delphi Private Advisors LLC raised its position in shares of Phillips 66 by 1.0% in the second quarter. Delphi Private Advisors LLC now owns 1,781 shares of the company’s stock valued at $141,000 after buying an additional 18 shares in the last quarter. Farmers National Bank acquired a new position in shares of Phillips 66 during the second quarter valued at about $141,000. Finally, Bruderman Asset Management LLC raised its position in shares of Phillips 66 by 3.1% in the second quarter. Bruderman Asset Management LLC now owns 1,850 shares of the company’s stock valued at $147,000 after buying an additional 56 shares in the last quarter. 69.98% of the stock is owned by hedge funds and other institutional investors.
Phillips 66 (NYSE:PSX) opened at 80.39 on Thursday. The company has a market cap of $42.03 billion, a P/E ratio of 13.92 and a beta of 1.37. Phillips 66 has a 12-month low of $71.74 and a 12-month high of $94.12. The firm has a 50-day moving average price of $79.20 and a 200-day moving average price of $80.14.
Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Friday, July 29th. The company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.01. Phillips 66 had a return on equity of 13.44% and a net margin of 3.51%. During the same quarter in the previous year, the firm posted $1.83 earnings per share. On average, equities research analysts forecast that Phillips 66 will post $3.41 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Thursday, November 17th will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 3.13%. Phillips 66’s payout ratio is 43.83%.
About Phillips 66
Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining and marketing, and specialties businesses. The Company operates its business through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment includes its equity investment in DCP Midstream , LLC (DCP Midstream) and its investment in Phillips 66 Partners LP.
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