Goldman Sachs Group Inc. upgraded shares of Phillips 66 (NYSE:PSX) from a sell rating to a neutral rating in a research note published on Thursday. The firm currently has $85.00 price target on the stock, up from their previous price target of $74.00.
PSX has been the subject of a number of other research reports. Vetr raised shares of Phillips 66 from a buy rating to a strong-buy rating and set a $87.87 price objective for the company in a report on Monday, September 12th. Piper Jaffray Cos. raised their target price on Phillips 66 from $68.00 to $74.00 and gave the company a neutral rating in a research note on Monday, August 22nd. TheStreet upgraded Phillips 66 from a hold rating to a buy rating in a research note on Monday, August 29th. Jefferies Group initiated coverage on Phillips 66 in a research note on Tuesday, August 23rd. They issued a hold rating and a $72.00 target price on the stock. Finally, Morgan Stanley reiterated a hold rating on shares of Phillips 66 in a research note on Monday, August 1st. Fourteen equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $86.23.
Phillips 66 (NYSE:PSX) opened at 80.41 on Thursday. Phillips 66 has a 12 month low of $71.74 and a 12 month high of $94.12. The firm’s 50-day moving average is $78.92 and its 200-day moving average is $80.27. The stock has a market cap of $42.04 billion, a P/E ratio of 13.92 and a beta of 1.37.
Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Friday, July 29th. The company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.01. Phillips 66 had a net margin of 3.51% and a return on equity of 13.44%. During the same period in the prior year, the firm earned $1.83 earnings per share. On average, equities analysts forecast that Phillips 66 will post $3.40 earnings per share for the current fiscal year.
In related news, major shareholder Berkshire Hathaway Inc purchased 290,116 shares of the company’s stock in a transaction that occurred on Monday, August 22nd. The shares were purchased at an average price of $77.04 per share, with a total value of $22,350,536.64. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 0.05% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in PSX. Cullinan Associates Inc. boosted its position in Phillips 66 by 10.1% in the third quarter. Cullinan Associates Inc. now owns 61,137 shares of the company’s stock valued at $4,925,000 after buying an additional 5,587 shares during the period. Macquarie Group Ltd. boosted its position in Phillips 66 by 18.3% in the second quarter. Macquarie Group Ltd. now owns 14,850 shares of the company’s stock valued at $1,178,000 after buying an additional 2,300 shares during the period. Carnick & Kubik Group LLC acquired a new position in Phillips 66 during the second quarter valued at $919,000. Williams Jones & Associates LLC boosted its position in Phillips 66 by 15.4% in the second quarter. Williams Jones & Associates LLC now owns 2,997 shares of the company’s stock valued at $238,000 after buying an additional 400 shares during the period. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new position in Phillips 66 during the second quarter valued at $1,498,000. 69.98% of the stock is currently owned by institutional investors.
Phillips 66 Company Profile
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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