Phillips 66 (PSX) Upgraded to “Sell” by BidaskClub

BidaskClub upgraded shares of Phillips 66 (NYSE:PSX) from a strong sell rating to a sell rating in a research note published on Tuesday, June 13th.

A number of other equities analysts also recently weighed in on the stock. TheStreet downgraded shares of Phillips 66 from a b- rating to a c rating in a report on Monday, June 5th. Jefferies Group LLC set a $74.00 price objective on shares of Phillips 66 and gave the company a hold rating in a report on Saturday, June 3rd. Piper Jaffray Companies reaffirmed an overweight rating and set a $88.00 price objective on shares of Phillips 66 in a report on Thursday, May 25th. US Capital Advisors reaffirmed a buy rating on shares of Phillips 66 in a report on Monday, May 22nd. Finally, Scotiabank set a $86.00 price objective on shares of Phillips 66 and gave the company a hold rating in a report on Monday, May 1st. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $84.86.

Phillips 66 (NYSE:PSX) traded down 2.08% on Tuesday, hitting $79.55. 2,299,676 shares of the stock traded hands. Phillips 66 has a 52 week low of $73.67 and a 52 week high of $88.87. The stock has a market cap of $41.06 billion, a price-to-earnings ratio of 24.68 and a beta of 1.27. The firm’s 50 day moving average is $78.60 and its 200 day moving average is $80.53.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Friday, April 28th. The oil and gas company reported $0.56 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.53. The company had revenue of $23.71 billion for the quarter, compared to the consensus estimate of $22.30 billion. Phillips 66 had a net margin of 1.86% and a return on equity of 5.98%. During the same period in the previous year, the firm earned $0.67 EPS. Equities analysts anticipate that Phillips 66 will post $4.32 earnings per share for the current year.

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The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 1st. Stockholders of record on Thursday, May 18th were paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date of this dividend was Tuesday, May 16th. This is a positive change from Phillips 66’s previous quarterly dividend of $0.63. Phillips 66’s dividend payout ratio is 86.96%.

Several hedge funds have recently added to or reduced their stakes in the stock. BP PLC bought a new stake in Phillips 66 during the fourth quarter worth $5,617,000. Cadence Capital Management LLC raised its stake in shares of Phillips 66 by 4.6% in the fourth quarter. Cadence Capital Management LLC now owns 78,653 shares of the oil and gas company’s stock worth $6,796,000 after buying an additional 3,450 shares during the last quarter. Essex Financial Services Inc. raised its stake in shares of Phillips 66 by 0.8% in the fourth quarter. Essex Financial Services Inc. now owns 25,095 shares of the oil and gas company’s stock worth $2,168,000 after buying an additional 190 shares during the last quarter. Harbor Advisors LLC acquired a new stake in shares of Phillips 66 during the fourth quarter worth approximately $306,000. Finally, First Command Bank acquired a new stake in shares of Phillips 66 during the fourth quarter worth approximately $102,000. 69.99% of the stock is owned by hedge funds and other 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 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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