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.
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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