Brokerages Set Phillips 66 (PSX) PT at $95.29

Shares of Phillips 66 (NYSE:PSX) have been assigned a consensus rating of “Hold” from the twenty-one analysts that are currently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $95.29.

PSX has been the topic of a number of recent research reports. Cowen reissued a “buy” rating and issued a $101.00 target price on shares of Phillips 66 in a report on Tuesday, October 17th. Vetr upgraded Phillips 66 from a “hold” rating to a “buy” rating and set a $97.16 price target for the company in a research report on Monday, October 16th. Zacks Investment Research upgraded Phillips 66 from a “hold” rating to a “buy” rating and set a $105.00 price target for the company in a research report on Tuesday, October 10th. Goldman Sachs Group upgraded Phillips 66 from a “neutral” rating to a “buy” rating and upped their price target for the stock from $88.00 to $109.00 in a research report on Tuesday, October 3rd. Finally, Piper Jaffray Companies restated a “buy” rating and issued a $98.00 price target on shares of Phillips 66 in a research report on Tuesday, September 26th.

In related news, VP Chukwuemeka A. Oyolu sold 2,700 shares of the stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $100.25, for a total transaction of $270,675.00. Following the completion of the sale, the vice president now owns 2,700 shares in the company, valued at $270,675. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.50% of the company’s stock.

Several large investors have recently added to or reduced their stakes in PSX. Beach Investment Management LLC. purchased a new stake in shares of Phillips 66 during the second quarter worth about $1,693,000. Alps Advisors Inc. purchased a new stake in shares of Phillips 66 during the second quarter worth about $212,000. Murphy Pohlad Asset Management LLC grew its position in shares of Phillips 66 by 6.2% during the second quarter. Murphy Pohlad Asset Management LLC now owns 43,379 shares of the oil and gas company’s stock worth $3,587,000 after purchasing an additional 2,545 shares in the last quarter. Fernwood Investment Management LLC grew its position in shares of Phillips 66 by 0.5% during the second quarter. Fernwood Investment Management LLC now owns 20,008 shares of the oil and gas company’s stock worth $1,654,000 after purchasing an additional 100 shares in the last quarter. Finally, Allegis Investment Advisors LLC grew its position in shares of Phillips 66 by 18.3% during the second quarter. Allegis Investment Advisors LLC now owns 29,125 shares of the oil and gas company’s stock worth $2,408,000 after purchasing an additional 4,514 shares in the last quarter. Hedge funds and other institutional investors own 70.12% of the company’s stock.

Phillips 66 (NYSE PSX) traded up $0.34 during mid-day trading on Tuesday, reaching $105.63. The company’s stock had a trading volume of 1,630,495 shares, compared to its average volume of 1,229,513. Phillips 66 has a 52 week low of $75.14 and a 52 week high of $106.91. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.86 and a current ratio of 1.31. The company has a market capitalization of $54,030.90, a P/E ratio of 26.47, a price-to-earnings-growth ratio of 1.59 and a beta of 1.24.

Phillips 66 (NYSE:PSX) last posted its 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 return on equity of 7.58% and a net margin of 2.11%. The company had revenue of $26.21 billion for the quarter, compared to the consensus estimate of $29.94 billion. During the same quarter in the prior year, the company earned $1.05 earnings per share. sell-side analysts anticipate that Phillips 66 will post 4.28 EPS for the current year.

Phillips 66 announced that its board has initiated a stock repurchase program on Monday, October 9th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the oil and gas company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

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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 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.

Analyst Recommendations for Phillips 66 (NYSE:PSX)

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