Phillips 66 (NYSE:PSX)‘s stock had its “market perform” rating reiterated by equities researchers at Wells Fargo & Company in a report issued on Tuesday. They presently have a $91.00 target price on the oil and gas company’s stock, up from their prior target price of $84.00. Wells Fargo & Company’s target price points to a potential upside of 0.14% from the stock’s previous close.
Several other analysts also recently issued reports on PSX. Scotiabank reissued a “hold” rating and issued a $86.00 price target on shares of Phillips 66 in a research note on Tuesday, June 27th. TheStreet raised Phillips 66 from a “c” rating to a “b-” rating in a research note on Friday, June 30th. Zacks Investment Research downgraded Phillips 66 from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Piper Jaffray Companies reissued a “buy” rating and issued a $84.00 price target on shares of Phillips 66 in a research note on Friday, July 14th. Finally, Barclays PLC reissued an “equal weight” rating and issued a $89.00 price target (up previously from $87.00) on shares of Phillips 66 in a research note on Wednesday, August 2nd. Two analysts have rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company’s stock. Phillips 66 presently has an average rating of “Hold” and a consensus price target of $93.22.
Phillips 66 (PSX) opened at 90.87 on Tuesday. Phillips 66 has a 52 week low of $75.14 and a 52 week high of $95.00. The firm has a 50-day moving average price of $88.92 and a 200-day moving average price of $82.43. The stock has a market cap of $46.48 billion, a P/E ratio of 27.19 and a beta of 1.19.
Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Tuesday, August 1st. The oil and gas company reported $1.09 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.07. Phillips 66 had a return on equity of 6.29% and a net margin of 1.87%. The firm had revenue of $24.58 billion for the quarter, compared to the consensus estimate of $25.14 billion. During the same quarter last year, the business posted $0.94 EPS. On average, equities research analysts predict that Phillips 66 will post $4.34 EPS for the current year.
Phillips 66 declared that its board has approved a share 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 typically a sign that the company’s board believes its stock is undervalued.
In related news, VP Chukwuemeka A. Oyolu sold 1,151 shares of Phillips 66 stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $89.08, for a total transaction of $102,531.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.50% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. Guardian Life Insurance Co. of America grew its holdings in Phillips 66 by 0.6% during the first quarter. Guardian Life Insurance Co. of America now owns 1,708 shares of the oil and gas company’s stock worth $135,000 after purchasing an additional 11 shares during the period. Joel Isaacson & Co. LLC grew its holdings in Phillips 66 by 0.4% during the second quarter. Joel Isaacson & Co. LLC now owns 3,821 shares of the oil and gas company’s stock worth $316,000 after purchasing an additional 14 shares during the period. Hudock Capital Group LLC grew its holdings in Phillips 66 by 0.6% during the second quarter. Hudock Capital Group LLC now owns 2,509 shares of the oil and gas company’s stock worth $207,000 after purchasing an additional 16 shares during the period. Good Life Advisors LLC grew its holdings in Phillips 66 by 0.3% during the second quarter. Good Life Advisors LLC now owns 6,198 shares of the oil and gas company’s stock worth $511,000 after purchasing an additional 17 shares during the period. Finally, Northwest Quadrant Wealth Management LLC grew its holdings in Phillips 66 by 0.6% during the first quarter. Northwest Quadrant Wealth Management LLC now owns 2,862 shares of the oil and gas company’s stock worth $228,000 after purchasing an additional 18 shares during the period. Institutional investors and hedge funds own 69.54% of the company’s stock.
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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