Cowen reiterated their outperform rating on shares of Phillips 66 (NYSE:PSX) in a research note released on Wednesday, Marketbeat reports. They currently have a $137.00 target price on the oil and gas company’s stock, up from their previous target price of $125.00.
Other equities analysts also recently issued research reports about the stock. Morgan Stanley reissued an equal weight rating on shares of Phillips 66 in a research note on Thursday, January 11th. Credit Suisse Group initiated coverage on shares of Phillips 66 in a research note on Wednesday, January 3rd. They issued a neutral rating and a $108.00 price objective for the company. Barclays reissued a sell rating and issued a $111.00 price objective on shares of Phillips 66 in a research note on Wednesday, January 10th. Piper Jaffray Companies set a $93.00 price objective on shares of Phillips 66 and gave the stock a buy rating in a research note on Monday, November 13th. Finally, Vetr raised shares of Phillips 66 from a hold rating to a buy rating and set a $97.16 price objective for the company in a research note on Monday, November 27th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $103.89.
Shares of Phillips 66 (NYSE:PSX) opened at $91.99 on Wednesday. The company has a quick ratio of 0.86, a current ratio of 1.31 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $46,620.00, a P/E ratio of 23.17, a P/E/G ratio of 1.51 and a beta of 1.11. Phillips 66 has a twelve month low of $75.14 and a twelve month high of $107.47.
Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.21. The firm had revenue of $30.12 billion during the quarter, compared to analyst estimates of $30.71 billion. Phillips 66 had a return on equity of 9.52% and a net margin of 4.88%. During the same quarter in the previous year, the business earned $0.16 earnings per share. research analysts expect that Phillips 66 will post 7.21 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Tuesday, February 20th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date is Friday, February 16th. Phillips 66’s payout ratio is presently 70.53%.
In other news, VP Chukwuemeka A. Oyolu sold 2,700 shares of the company’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $100.25, for a total transaction of $270,675.00. Following the transaction, the vice president now directly owns 2,700 shares of the company’s stock, valued at $270,675. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.50% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Rowland & Co. Investment Counsel ADV acquired a new position in shares of Phillips 66 in the 4th quarter valued at $102,000. First Dallas Securities Inc. acquired a new position in shares of Phillips 66 in the 4th quarter valued at $143,000. FTB Advisors Inc. increased its position in shares of Phillips 66 by 112.9% in the 3rd quarter. FTB Advisors Inc. now owns 1,471 shares of the oil and gas company’s stock valued at $134,000 after acquiring an additional 780 shares during the period. Truewealth LLC acquired a new position in shares of Phillips 66 in the 4th quarter valued at $151,000. Finally, Mountain Capital Investment Advisors Inc acquired a new position in shares of Phillips 66 in the 2nd quarter valued at $127,000. 71.09% of the stock is currently owned by institutional investors and hedge funds.
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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