Phillips 66 (PSX) Now Covered by Analysts at Credit Suisse Group

Credit Suisse Group assumed coverage on shares of Phillips 66 (NYSE:PSX) in a research note released on Wednesday. The firm issued a neutral rating and a $108.00 price target on the oil and gas company’s stock.

Other research analysts also recently issued reports about the company. Barclays set a $95.00 price target on Phillips 66 and gave the company an equal weight rating in a report on Tuesday, October 10th. Scotiabank reiterated a hold rating on shares of Phillips 66 in a report on Friday, September 8th. Vetr upgraded Phillips 66 from a hold rating to a buy rating and set a $97.16 price target for the company in a report on Monday, October 16th. Jefferies Group reiterated a hold rating and issued a $78.00 price target on shares of Phillips 66 in a report on Tuesday, September 5th. Finally, Piper Jaffray Companies reissued a buy rating and set a $98.00 price objective on shares of Phillips 66 in a research note on Tuesday, September 26th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. Phillips 66 presently has an average rating of Hold and a consensus price target of $95.19.

Shares of Phillips 66 (PSX) traded down $0.28 on Wednesday, reaching $102.15. The company’s stock had a trading volume of 1,110,600 shares, compared to its average volume of 1,228,200. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.31 and a quick ratio of 0.86. The firm has a market cap of $51,790.00, a P/E ratio of 25.73, a PEG ratio of 1.63 and a beta of 1.24. Phillips 66 has a 52 week low of $75.14 and a 52 week high of $102.80.

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, beating the Thomson Reuters’ consensus estimate of $1.62 by $0.04. The company had revenue of $26.21 billion during the quarter, compared to the consensus estimate of $29.94 billion. Phillips 66 had a return on equity of 7.58% and a net margin of 2.11%. During the same period in the previous year, the firm posted $1.05 EPS. research analysts anticipate that Phillips 66 will post 4.5 earnings per share for the current year.

Phillips 66 announced that its Board of Directors has initiated a stock buyback plan on Monday, October 9th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the oil and gas company to purchase shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

In other news, VP Chukwuemeka A. Oyolu sold 2,700 shares of the business’s stock in a transaction 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 sale, the vice president now directly owns 2,700 shares of the company’s stock, valued at approximately $270,675. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.50% of the stock is owned by insiders.

Institutional investors have recently made changes to their positions in the stock. Motco boosted its position in Phillips 66 by 4.0% during the 2nd quarter. Motco now owns 1,309 shares of the oil and gas company’s stock worth $108,000 after purchasing an additional 50 shares during the period. Ffcm LLC purchased a new stake in Phillips 66 during the 2nd quarter worth $113,000. Bruderman Asset Management LLC purchased a new stake in Phillips 66 during the 2nd quarter worth $112,000. FTB Advisors Inc. boosted its position in Phillips 66 by 112.9% during the 3rd quarter. FTB Advisors Inc. now owns 1,471 shares of the oil and gas company’s stock worth $134,000 after purchasing an additional 780 shares during the period. Finally, Mountain Capital Investment Advisors Inc purchased a new stake in Phillips 66 during the 2nd quarter worth $127,000. 70.12% of the stock is owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Phillips 66 (NYSE:PSX)

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