Phillips 66 (NYSE:PSX)‘s stock had its “buy” rating reiterated by investment analysts at Piper Jaffray Companies in a research note issued to investors on Friday. They currently have a $84.00 price target on the oil and gas company’s stock. Piper Jaffray Companies’ price objective indicates a potential upside of 2.68% from the company’s previous close.
Several other brokerages have also recently weighed in on PSX. TheStreet upgraded Phillips 66 from a “c” rating to a “b-” rating in a report on Friday, June 30th. Zacks Investment Research cut Phillips 66 from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. BidaskClub upgraded Phillips 66 from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 13th. Scotiabank restated a “hold” rating and set a $86.00 target price on shares of Phillips 66 in a report on Tuesday, June 27th. Finally, US Capital Advisors restated a “buy” rating on shares of Phillips 66 in a report on Monday, May 22nd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Phillips 66 presently has an average rating of “Hold” and a consensus target price of $84.12.
Phillips 66 (NYSE:PSX) opened at 81.81 on Friday. The stock’s 50 day moving average price is $78.80 and its 200-day moving average price is $80.27. The company has a market capitalization of $42.22 billion, a P/E ratio of 25.38 and a beta of 1.22. Phillips 66 has a 12 month low of $73.82 and a 12 month high of $88.87.
Phillips 66 (NYSE:PSX) last issued its earnings results on Friday, April 28th. The oil and gas company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.53. The company had revenue of $23.71 billion during the quarter, compared to analysts’ expectations of $22.30 billion. Phillips 66 had a return on equity of 5.98% and a net margin of 1.86%. During the same period in the prior year, the business posted $0.67 EPS. On average, equities research analysts predict that Phillips 66 will post $4.09 EPS for the current fiscal year.
A number of hedge funds have recently modified their holdings of the stock. Jacobi Capital Management LLC increased its position in Phillips 66 by 27.4% in the first quarter. Jacobi Capital Management LLC now owns 1,288 shares of the oil and gas company’s stock valued at $100,000 after buying an additional 277 shares during the period. Winch Advisory Services LLC increased its position in Phillips 66 by 5,872.7% in the first quarter. Winch Advisory Services LLC now owns 1,314 shares of the oil and gas company’s stock valued at $104,000 after buying an additional 1,292 shares during the period. Meeder Asset Management Inc. bought a new position in Phillips 66 during the second quarter valued at $116,000. Farmers National Bank bought a new position in Phillips 66 during the first quarter valued at $113,000. Finally, Westside Investment Management Inc. increased its position in Phillips 66 by 239.2% in the first quarter. Westside Investment Management Inc. now owns 1,418 shares of the oil and gas company’s stock valued at $110,000 after buying an additional 1,000 shares during the period. Institutional investors and hedge funds own 69.09% 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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