Published On: Mon, Sep 19th, 2016

Phillips 66 (PSX) Stock Rating Reaffirmed by Barclays PLC

Phillips 66 (NYSE:PSX)‘s stock had its “equal weight” rating restated by research analysts at Barclays PLC in a research report issued on Thursday. They currently have a $86.00 price target on the stock. Barclays PLC’s price objective would indicate a potential upside of 8.74% from the stock’s current price.
Several other research firms also recently weighed in on PSX. Goldman Sachs Group Inc. restated a “sell” rating on shares of Phillips 66 in a research report on Wednesday, April 27th. Zacks Investment Research downgraded Phillips 66 from a “hold” rating to a “sell” rating in a research report on Tuesday, April 26th. Citigroup Inc. downgraded Phillips 66 from a “buy” rating to a “neutral” rating and set a $88.00 price objective on the stock. in a research report on Wednesday, April 20th. Credit Suisse Group AG reiterated a “neutral” rating and set a $85.00 price objective (down previously from $95.00) on shares of Phillips 66 in a research report on Monday, April 11th. Finally, Vetr downgraded Phillips 66 from a “strong-buy” rating to a “buy” rating and set a $95.50 price objective on the stock. in a research report on Monday, April 11th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $85.52.
Shares of Phillips 66 (NYSE:PSX) traded down 0.01% during midday trading on Thursday, hitting $79.09. The company’s stock had a trading volume of 7,599,569 shares. The firm has a market cap of $41.35 billion, a price-to-earnings ratio of 13.69 and a beta of 1.38. The firm has a 50-day moving average of $77.86 and a 200 day moving average of $80.87. Phillips 66 has a 12-month low of $71.74 and a 12-month high of $94.12.

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Phillips 66 (NYSE:PSX) last released its earnings results on Friday, July 29th. The company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.01. Phillips 66 had a return on equity of 13.44% and a net margin of 3.51%. During the same period in the prior year, the firm earned $1.83 EPS. On average, equities research analysts predict that Phillips 66 will post $3.38 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Thursday, August 18th were paid a $0.63 dividend. The ex-dividend date was Tuesday, August 16th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.19%. Phillips 66’s payout ratio is presently 43.83%.
In other news, VP Paula Ann Johnson sold 40,141 shares of Phillips 66 stock in a transaction on Wednesday, June 29th. The stock was sold at an average price of $79.57, for a total value of $3,194,019.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Berkshire Hathaway Inc acquired 1,019,974 shares of the company’s stock in a transaction dated Wednesday, September 14th. The stock was purchased at an average cost of $77.21 per share, with a total value of $78,752,192.54. The disclosure for this purchase can be found here. 0.05% of the stock is owned by insiders.
Large investors have recently modified their holdings of the stock. Brown Advisory Inc. boosted its stake in shares of Phillips 66 by 28.8% in the fourth quarter. Brown Advisory Inc. now owns 46,237 shares of the company’s stock worth $3,782,000 after buying an additional 10,346 shares during the last quarter. SECOR Capital Advisors LP boosted its stake in shares of Phillips 66 by 918.8% in the fourth quarter. SECOR Capital Advisors LP now owns 28,649 shares of the company’s stock worth $2,343,000 after buying an additional 25,837 shares during the last quarter. Adirondack Trust Co. boosted its stake in shares of Phillips 66 by 0.7% in the fourth quarter. Adirondack Trust Co. now owns 12,565 shares of the company’s stock worth $1,007,000 after buying an additional 91 shares during the last quarter. Alpha Omega Wealth Management LLC purchased a new stake in shares of Phillips 66 during the fourth quarter worth $2,644,000. Finally, Baxter Bros Inc. boosted its stake in shares of Phillips 66 by 0.6% in the fourth quarter. Baxter Bros Inc. now owns 13,215 shares of the company’s stock worth $1,081,000 after buying an additional 79 shares during the last quarter. 69.99% of the stock is owned by institutional investors and hedge funds.
About Phillips 66
Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining and marketing, and specialties businesses. The Company operates its business through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment includes its equity investment in DCP Midstream , LLC (DCP Midstream) and its investment in Phillips 66 Partners LP.

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