Phillips 66 (PSX) Stock Rating Lowered by Vetr Inc.
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.
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.
To view Vetr’s full report, visit Vetr’s official website.
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