A number of other research firms also recently commented on PSX. UBS Group upped their price objective on Phillips 66 from $85.00 to $92.00 and gave the company a neutral rating in a report on Wednesday, November 15th. Vetr downgraded Phillips 66 from a buy rating to a hold rating and set a $97.16 price objective for the company. in a report on Thursday, November 2nd. Goldman Sachs Group upgraded Phillips 66 to a buy rating in a report on Monday, December 18th. Jefferies Group downgraded Phillips 66 from a hold rating to an underperform rating and dropped their price objective for the company from $95.00 to $75.14 in a report on Monday, October 16th. Finally, Wells Fargo & Co reiterated a market perform rating and issued a $91.00 price objective (up previously from $84.00) on shares of Phillips 66 in a report on Tuesday, October 17th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company. The company has a consensus rating of Hold and an average target price of $96.66.
Shares of Phillips 66 (NYSE:PSX) traded up $2.60 on Thursday, hitting $104.97. The stock had a trading volume of 1,848,400 shares, compared to its average volume of 1,680,000. The company has a quick ratio of 0.86, a current ratio of 1.31 and a debt-to-equity ratio of 0.40. Phillips 66 has a twelve month low of $75.14 and a twelve month high of $105.09. The firm has a market capitalization of $53,190.00, a price-to-earnings ratio of 26.44, a PEG ratio of 1.63 and a beta of 1.24.
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 (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.04. The business had revenue of $26.21 billion for the quarter, compared to analyst estimates of $29.94 billion. Phillips 66 had a return on equity of 7.58% and a net margin of 2.11%. During the same quarter in the prior year, the firm posted $1.05 earnings per share. equities analysts predict that Phillips 66 will post 4.43 EPS for the current fiscal year.
Phillips 66 announced that its Board of Directors has initiated a stock repurchase program on Monday, October 9th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the oil and gas company to purchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.
In other Phillips 66 news, VP Chukwuemeka A. Oyolu sold 2,700 shares of the stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $100.25, for a total value of $270,675.00. Following the completion of the sale, the vice president now directly owns 2,700 shares in the company, valued at $270,675. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.50% of the stock is owned by corporate insiders.
Institutional investors have recently made changes to their positions in the business. Institute for Wealth Management LLC. bought a new stake in shares of Phillips 66 in the second quarter worth about $979,000. Blue Edge Capital LLC increased its holdings in shares of Phillips 66 by 3.2% in the second quarter. Blue Edge Capital LLC now owns 5,088 shares of the oil and gas company’s stock worth $421,000 after acquiring an additional 160 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of Phillips 66 by 0.9% in the second quarter. Wells Fargo & Company MN now owns 8,422,039 shares of the oil and gas company’s stock worth $696,418,000 after acquiring an additional 71,098 shares in the last quarter. Great Lakes Advisors LLC increased its holdings in shares of Phillips 66 by 3.5% in the second quarter. Great Lakes Advisors LLC now owns 603,678 shares of the oil and gas company’s stock worth $49,919,000 after acquiring an additional 20,264 shares in the last quarter. Finally, Nationwide Fund Advisors increased its holdings in shares of Phillips 66 by 7.7% in the third quarter. Nationwide Fund Advisors now owns 338,816 shares of the oil and gas company’s stock worth $31,039,000 after acquiring an additional 24,318 shares in the last quarter. Institutional investors own 70.12% of the company’s stock.
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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.
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