Raymond James Raises Phillips 66 (NYSE:PSX) Price Target to $110.00
Phillips 66 (NYSE:PSX) had its price objective boosted by Raymond James from $106.00 to $110.00 in a report issued on Monday, BenzingaRatingsTable reports. Raymond James currently has an outperform rating on the oil and gas company’s stock.
A number of other equities analysts also recently issued reports on PSX. ValuEngine raised shares of Zogenix from a buy rating to a strong-buy rating in a report on Thursday, June 27th. Morgan Stanley reaffirmed an overweight rating and set a GBX 460 ($6.01) price objective on shares of Sophos Group in a report on Friday, May 17th. Bank of America reaffirmed a buy rating and set a $420.00 price objective (up from $400.00) on shares of Lendingtree in a report on Monday, April 29th. Jefferies Financial Group assumed coverage on shares of Pinduoduo in a report on Monday, April 15th. They set a buy rating and a $30.00 price objective on the stock. Finally, Citigroup lifted their price objective on shares of from GBX 1,300 ($16.99) to GBX 1,450 ($18.95) and gave the stock a buy rating in a report on Friday, June 21st. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Phillips 66 presently has an average rating of Buy and a consensus price target of $117.82.
NYSE PSX traded up $1.48 during mid-day trading on Monday, hitting $99.59. The company’s stock had a trading volume of 2,445,001 shares, compared to its average volume of 2,725,646. The firm’s 50 day moving average price is $88.25. Phillips 66 has a twelve month low of $78.44 and a twelve month high of $123.97. The company has a quick ratio of 0.84, a current ratio of 1.31 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $44.32 billion, a price-to-earnings ratio of 8.50, a price-to-earnings-growth ratio of 1.61 and a beta of 1.08.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th will be paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.61%. Phillips 66’s payout ratio is 30.74%.
In other news, Director John E. Lowe acquired 2,000 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were acquired at an average cost of $82.91 per share, for a total transaction of $165,820.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.13% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Rothschild Investment Corp IL increased its position in shares of Phillips 66 by 3.6% during the second quarter. Rothschild Investment Corp IL now owns 29,163 shares of the oil and gas company’s stock valued at $2,728,000 after buying an additional 1,025 shares during the period. Patten & Patten Inc. TN increased its position in shares of Phillips 66 by 38.4% during the second quarter. Patten & Patten Inc. TN now owns 15,801 shares of the oil and gas company’s stock valued at $1,478,000 after buying an additional 4,386 shares during the period. Webster Bank N. A. increased its position in shares of Phillips 66 by 64.2% during the second quarter. Webster Bank N. A. now owns 895 shares of the oil and gas company’s stock valued at $84,000 after buying an additional 350 shares during the period. Joel Isaacson & Co. LLC increased its position in shares of Phillips 66 by 33.0% during the second quarter. Joel Isaacson & Co. LLC now owns 4,862 shares of the oil and gas company’s stock valued at $455,000 after buying an additional 1,206 shares during the period. Finally, RPG Investment Advisory LLC increased its position in shares of Phillips 66 by 145.3% during the second quarter. RPG Investment Advisory LLC now owns 1,575 shares of the oil and gas company’s stock valued at $148,000 after buying an additional 933 shares during the period. Institutional investors and hedge funds own 69.98% of the company’s stock.
About Phillips 66
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; provides terminaling and storage services for crude oil and petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.
Featured Story: Net Margin
Receive News & Ratings for Phillips 66 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Phillips 66 and related companies with MarketBeat.com's FREE daily email newsletter.