Phillips 66 (NYSE:PSX) was downgraded by Vetr from a “buy” rating to a “hold” rating in a report issued on Tuesday. They currently have a $97.16 target price on the oil and gas company’s stock. Vetr‘s price objective suggests a potential upside of 4.15% from the stock’s previous close.
Other analysts have also recently issued research reports about the stock. Barclays PLC set a $95.00 price target on shares of Phillips 66 and gave the stock an “equal weight” rating in a research note on Tuesday, October 10th. Scotiabank reiterated a “hold” rating on shares of Phillips 66 in a research note on Friday, September 8th. Jefferies Group LLC reiterated a “hold” rating and set a $78.00 price target on shares of Phillips 66 in a research note on Tuesday, September 5th. BidaskClub cut shares of Phillips 66 from a “hold” rating to a “sell” rating in a research note on Friday, August 18th. Finally, Piper Jaffray Companies reiterated a “buy” rating and set a $98.00 price target on shares of Phillips 66 in a research note on Tuesday, September 26th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. Phillips 66 presently has an average rating of “Hold” and a consensus price target of $93.25.
Shares of Phillips 66 (NYSE:PSX) opened at $93.29 on Tuesday. The firm has a market cap of $47,270.00, a price-to-earnings ratio of 26.69, a P/E/G ratio of 2.38 and a beta of 1.20. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.86 and a current ratio of 1.31. Phillips 66 has a 52 week low of $75.14 and a 52 week high of $95.00.
Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Friday, October 27th. The oil and gas company reported $1.66 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.62 by $0.04. The firm had revenue of $26.21 billion during the quarter, compared to analysts’ expectations of $29.94 billion. Phillips 66 had a net margin of 2.11% and a return on equity of 7.58%. During the same quarter in the prior year, the business earned $1.05 EPS. analysts forecast that Phillips 66 will post 4.58 earnings per share for the current year.
Phillips 66 declared that its Board of Directors has initiated a share buyback plan on Monday, October 9th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the oil and gas company to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.
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In other news, VP Chukwuemeka A. Oyolu sold 1,151 shares of the stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $89.08, for a total value of $102,531.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.50% of the company’s stock.
A number of large investors have recently bought and sold shares of PSX. BlackRock Inc. increased its holdings in Phillips 66 by 2,329.3% during the 1st quarter. BlackRock Inc. now owns 27,821,897 shares of the oil and gas company’s stock valued at $2,204,052,000 after acquiring an additional 26,676,647 shares in the last quarter. FMR LLC increased its holdings in Phillips 66 by 37.1% during the 2nd quarter. FMR LLC now owns 7,520,743 shares of the oil and gas company’s stock valued at $621,890,000 after acquiring an additional 2,036,258 shares in the last quarter. Clearbridge Investments LLC increased its holdings in Phillips 66 by 4,771.9% during the 1st quarter. Clearbridge Investments LLC now owns 1,426,192 shares of the oil and gas company’s stock valued at $112,983,000 after acquiring an additional 1,396,918 shares in the last quarter. New England Asset Management Inc. purchased a new position in Phillips 66 during the 1st quarter valued at about $104,095,000. Finally, State Street Corp increased its holdings in Phillips 66 by 4.0% during the 1st quarter. State Street Corp now owns 24,085,903 shares of the oil and gas company’s stock valued at $1,908,079,000 after acquiring an additional 921,895 shares in the last quarter. Hedge funds and other institutional investors own 69.92% of the company’s stock.
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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