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

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

Several brokerages recently weighed in on PSX. Jefferies Group LLC set a $74.00 target price on Phillips 66 and gave the stock a “hold” rating in a research report on Saturday. TheStreet raised Phillips 66 from a “c” rating to a “b-” rating in a research report on Friday, April 28th. Citigroup Inc reaffirmed a “neutral” rating and issued a $83.00 target price (down from $84.00) on shares of Phillips 66 in a research report on Saturday, April 22nd. Scotiabank reaffirmed a “hold” rating and issued a $86.00 target price on shares of Phillips 66 in a research report on Monday, March 27th. Finally, Zacks Investment Research lowered Phillips 66 from a “hold” rating to a “sell” rating in a research report on Tuesday, February 7th.

Shares of Phillips 66 (NYSE:PSX) have been assigned a consensus rating of “Hold” from the eighteen brokerages that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $84.86.

A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. increased its stake in shares of Phillips 66 by 2,329.3% in the first quarter. BlackRock Inc. now owns 27,821,897 shares of the oil and gas company’s stock valued at $2,204,052,000 after buying an additional 26,676,647 shares in the last quarter. Norges Bank acquired a new stake in shares of Phillips 66 during the fourth quarter valued at $465,132,000. OppenheimerFunds Inc. increased its stake in shares of Phillips 66 by 599.8% in the first quarter. OppenheimerFunds Inc. now owns 4,600,748 shares of the oil and gas company’s stock valued at $364,472,000 after buying an additional 3,943,299 shares in the last quarter. New England Asset Management Inc. acquired a new stake in shares of Phillips 66 during the first quarter valued at $104,095,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in shares of Phillips 66 during the fourth quarter valued at $89,476,000. Hedge funds and other institutional investors own 69.07% of the company’s stock. Shares of Phillips 66 (PSX) opened at 76.37 on Monday. The firm has a market capitalization of $39.41 billion, a PE ratio of 23.70 and a beta of 1.33. The stock has a 50 day moving average price of $78.06 and a 200-day moving average price of $80.97. Phillips 66 has a 52 week low of $73.67 and a 52 week high of $88.87.

Phillips 66 (NYSE:PSX) last issued its earnings results on Friday, April 28th. The oil and gas company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.53. The business had revenue of $23.71 billion for the quarter, compared to analyst estimates of $22.30 billion. Phillips 66 had a return on equity of 6.24% and a net margin of 1.81%. During the same period last year, the company posted $0.67 EPS. Equities analysts anticipate that Phillips 66 will post $4.35 earnings per share for the current year. The business also recently declared a quarterly dividend, which was paid on Thursday, June 1st. Investors of record on Thursday, May 18th were issued a $0.70 dividend. This is an increase from Phillips 66’s previous quarterly dividend of $0.63. This represents a $2.80 annualized dividend and a yield of 3.67%. The ex-dividend date was Tuesday, May 16th. Phillips 66’s dividend payout ratio is currently 86.30%.

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “PSX”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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