Phillips 66’s (PSX) Outperform Rating Reaffirmed at Cowen

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.

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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.

Analyst Recommendations for Phillips 66 (NYSE:PSX)

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