Phillips 66 (PSX) Given Average Recommendation of “Hold” by Analysts

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Phillips 66 (NYSE:PSX) has earned an average recommendation of “Hold” from the twenty-two ratings firms that are covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $109.66.

PSX has been the topic of a number of analyst reports. JPMorgan Chase & Co. increased their price target on Phillips 66 from $108.00 to $109.00 and gave the stock a “neutral” rating in a research report on Monday, April 9th. ValuEngine downgraded Phillips 66 from a “buy” rating to a “hold” rating in a research report on Monday, April 2nd. Wells Fargo & Co raised Phillips 66 from a “market perform” rating to an “outperform” rating in a research report on Tuesday, May 29th. Deutsche Bank reduced their price target on Phillips 66 from $106.00 to $102.00 and set a “hold” rating on the stock in a research report on Monday, March 19th. Finally, Credit Suisse Group reissued a “neutral” rating and set a $110.00 price target on shares of Phillips 66 in a research report on Wednesday, March 7th.

In other Phillips 66 news, VP Chukwuemeka A. Oyolu sold 6,900 shares of the firm’s stock in a transaction on Thursday, May 17th. The stock was sold at an average price of $120.00, for a total value of $828,000.00. Following the sale, the vice president now owns 8,177 shares of the company’s stock, valued at approximately $981,240. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.56% of the company’s stock.

Several hedge funds have recently modified their holdings of PSX. Bruderman Asset Management LLC acquired a new stake in shares of Phillips 66 in the 1st quarter valued at $105,000. Centaurus Financial Inc. acquired a new stake in shares of Phillips 66 in the 1st quarter valued at $107,000. Pin Oak Investment Advisors Inc. acquired a new stake in shares of Phillips 66 in the 4th quarter valued at $119,000. Compagnie Lombard Odier SCmA boosted its holdings in shares of Phillips 66 by 286.6% in the 1st quarter. Compagnie Lombard Odier SCmA now owns 1,268 shares of the oil and gas company’s stock valued at $122,000 after purchasing an additional 940 shares in the last quarter. Finally, Well Done LLC acquired a new stake in shares of Phillips 66 during the 1st quarter valued at $143,000. 69.22% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE PSX traded up $0.57 during trading hours on Friday, reaching $112.02. 3,021,128 shares of the stock were exchanged, compared to its average volume of 2,385,801. The firm has a market cap of $53.38 billion, a P/E ratio of 25.58, a price-to-earnings-growth ratio of 1.85 and a beta of 1.06. The company has a current ratio of 1.31, a quick ratio of 0.80 and a debt-to-equity ratio of 0.48. Phillips 66 has a 52 week low of $78.80 and a 52 week high of $122.38.

Phillips 66 (NYSE:PSX) last announced its earnings results on Friday, April 27th. The oil and gas company reported $1.04 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.13. The company had revenue of $24.05 billion for the quarter, compared to analyst estimates of $29.23 billion. Phillips 66 had a return on equity of 10.00% and a net margin of 4.85%. During the same quarter last year, the company earned $0.56 earnings per share. analysts forecast that Phillips 66 will post 7.29 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, June 1st. Shareholders of record on Monday, May 21st were issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date of this dividend was Friday, May 18th. This is an increase from Phillips 66’s previous quarterly dividend of $0.70. Phillips 66’s dividend payout ratio (DPR) is currently 73.06%.

Phillips 66 Company Profile

Phillips 66 operates as an energy manufacturing and logistics company. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks, delivers refined products to market, and provides terminaling and storage services for crude oil and petroleum products; transports, stores, fractionates, and markets natural gas liquids, exports LPG, and provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.

Analyst Recommendations for Phillips 66 (NYSE:PSX)

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