Vetr lowered shares of Phillips 66 (NYSE:PSX) from a buy rating to a hold rating in a research note published on Thursday. Vetr currently has $97.16 price target on the oil and gas company’s stock.

Several other brokerages have also weighed in on PSX. BidaskClub lowered Phillips 66 from a hold rating to a sell rating in a report on Friday, August 18th. Jefferies Group LLC lowered Phillips 66 from a hold rating to an underperform rating and decreased their price objective for the stock from $95.00 to $75.14 in a report on Monday, October 16th. Scotiabank set a $86.00 price objective on Phillips 66 and gave the stock a hold rating in a report on Tuesday, August 1st. Wells Fargo & Company restated a market perform rating and issued a $91.00 target price (up previously from $84.00) on shares of Phillips 66 in a research note on Tuesday, October 17th. Finally, Zacks Investment Research downgraded Phillips 66 from a hold rating to a sell rating in a research note on Wednesday, July 12th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company’s stock. Phillips 66 presently has a consensus rating of Hold and an average target price of $93.33.

Shares of Phillips 66 (NYSE PSX) traded up $1.08 on Thursday, reaching $94.66. The company had a trading volume of 380,267 shares, compared to its average volume of 1,970,000. Phillips 66 has a 52 week low of $75.14 and a 52 week high of $95.00. The stock has a market cap of $47,770.00, a price-to-earnings ratio of 26.97, a P/E/G ratio of 2.43 and a beta of 1.20. The company has a current ratio of 1.31, a quick ratio of 0.86 and a debt-to-equity ratio of 0.40.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Friday, October 27th. The oil and gas company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.04. Phillips 66 had a return on equity of 7.58% and a net margin of 2.11%. The company had revenue of $26.21 billion during the quarter, compared to analyst estimates of $29.94 billion. During the same quarter last year, the firm posted $1.05 EPS. sell-side analysts predict that Phillips 66 will post 4.54 EPS for the current year.

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The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Tuesday, October 17th will be given a dividend of $0.70 per share. The ex-dividend date is Thursday, November 16th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.96%. Phillips 66’s dividend payout ratio (DPR) is presently 70.53%.

Phillips 66 announced that its board has authorized a share buyback program on Monday, October 9th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the oil and gas company to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

In related news, VP Chukwuemeka A. Oyolu sold 1,151 shares of the business’s stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $89.08, for a total value of $102,531.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.50% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Institute for Wealth Management LLC. bought a new stake in Phillips 66 in the 2nd quarter worth approximately $979,000. Blue Edge Capital LLC lifted its position in Phillips 66 by 3.2% in the 2nd quarter. Blue Edge Capital LLC now owns 5,088 shares of the oil and gas company’s stock worth $421,000 after buying an additional 160 shares during the last quarter. Wells Fargo & Company MN lifted its position in Phillips 66 by 0.9% in the 2nd quarter. Wells Fargo & Company MN now owns 8,422,039 shares of the oil and gas company’s stock worth $696,418,000 after buying an additional 71,098 shares during the last quarter. Great Lakes Advisors LLC lifted its position in Phillips 66 by 3.5% in the 2nd quarter. Great Lakes Advisors LLC now owns 603,678 shares of the oil and gas company’s stock worth $49,919,000 after buying an additional 20,264 shares during the last quarter. Finally, Bank of The Ozarks lifted its position in Phillips 66 by 7.0% in the 1st quarter. Bank of The Ozarks now owns 8,836 shares of the oil and gas company’s stock worth $700,000 after buying an additional 575 shares during the last quarter. Institutional investors own 69.64% 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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Analyst Recommendations for Phillips 66 (NYSE:PSX)

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