Phillips 66 (NYSE:PSX) was upgraded by equities researchers at Goldman Sachs Group to a “buy” rating in a research report issued to clients and investors on Monday, December 18th.
A number of other research analysts also recently commented on PSX. UBS Group raised their target price on shares of Phillips 66 from $85.00 to $92.00 and gave the company a “neutral” rating in a research report on Wednesday, November 15th. Wells Fargo & Co reissued a “market perform” rating and set a $91.00 target price (up previously from $84.00) on shares of Phillips 66 in a research report on Tuesday, October 17th. Vetr raised shares of Phillips 66 from a “hold” rating to a “buy” rating and set a $97.16 target price on the stock in a research report on Monday, November 13th. Howard Weil raised shares of Phillips 66 from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $86.00 to $98.00 in a research report on Thursday, September 28th. Finally, JPMorgan Chase & Co. raised their price target on shares of Phillips 66 from $93.00 to $95.00 and gave the company a “neutral” rating in a report on Monday, October 30th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $96.66.
Phillips 66 (NYSE PSX) traded up $2.60 during trading on Monday, hitting $104.97. 1,849,280 shares of the stock traded hands, compared to its average volume of 1,377,356. The company has a market cap of $53,190.00, a price-to-earnings ratio of 26.44, a PEG ratio of 1.62 and a beta of 1.24. The company has a quick ratio of 0.86, a current ratio of 1.31 and a debt-to-equity ratio of 0.40. Phillips 66 has a 12-month low of $75.14 and a 12-month high of $105.09.
Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Friday, October 27th. The oil and gas company reported $1.66 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.62 by $0.04. The company had revenue of $26.21 billion for the quarter, compared to the consensus estimate 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 last year, the firm posted $1.05 EPS. equities analysts forecast that Phillips 66 will post 4.5 EPS for the current year.
Phillips 66 announced that its Board of Directors has approved a stock repurchase plan 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 purchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.
In other news, VP Chukwuemeka A. Oyolu sold 2,700 shares of Phillips 66 stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $100.25, for a total transaction of $270,675.00. Following the completion of the transaction, the vice president now directly owns 2,700 shares of the company’s stock, valued at approximately $270,675. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.50% of the company’s stock.
Large investors have recently bought and sold shares of the company. Rowland & Co. Investment Counsel ADV purchased a new stake in Phillips 66 in the 4th quarter worth $102,000. Motco increased its holdings in Phillips 66 by 4.0% in the 2nd quarter. Motco now owns 1,309 shares of the oil and gas company’s stock worth $108,000 after acquiring an additional 50 shares in the last quarter. Bruderman Asset Management LLC purchased a new stake in Phillips 66 in the 2nd quarter worth $112,000. Ffcm LLC purchased a new stake in Phillips 66 in the 2nd quarter worth $113,000. Finally, Meeder Asset Management Inc. purchased a new stake in Phillips 66 in the 2nd quarter worth $116,000. 70.12% of the stock is owned by hedge funds and other institutional investors.
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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.
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