Phillips 66 (PSX) Downgraded to Hold at US Capital Advisors

US Capital Advisors downgraded shares of Phillips 66 (NYSE:PSX) from an overweight rating to a hold rating in a report published on Monday. US Capital Advisors also issued estimates for Phillips 66’s FY2017 earnings at $4.63 EPS, Q3 2018 earnings at $1.89 EPS and FY2018 earnings at $5.80 EPS.

PSX has been the topic of a number of other research reports. UBS boosted their price objective on shares of Phillips 66 from $85.00 to $92.00 and gave the company a neutral rating in a research report on Wednesday, November 15th. Wells Fargo & Company reiterated a market perform rating and set a $91.00 price objective (up previously from $84.00) on shares of Phillips 66 in a research report on Tuesday, October 17th. Vetr upgraded shares of Phillips 66 from a hold rating to a buy rating and set a $97.16 price objective on the stock in a research report on Monday, November 13th. Howard Weil upgraded shares of Phillips 66 from a sector perform rating to an outperform rating and boosted their price objective for the company from $86.00 to $98.00 in a research report on Thursday, September 28th. Finally, J P Morgan Chase & Co boosted their price objective on shares of Phillips 66 from $93.00 to $95.00 and gave the company a neutral rating in a research report on Monday, October 30th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company. Phillips 66 has an average rating of Hold and an average price target of $93.25.

Phillips 66 (NYSE:PSX) opened at $97.86 on Monday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.86 and a current ratio of 1.31. Phillips 66 has a 1 year low of $75.14 and a 1 year high of $99.35. The firm has a market cap of $49,710.00, a price-to-earnings ratio of 28.32, a price-to-earnings-growth ratio of 2.52 and a beta of 1.24.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, October 27th. The oil and gas company reported $1.66 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.62 by $0.04. Phillips 66 had a net margin of 2.11% and a return on equity of 7.58%. The business had revenue of $26.21 billion for the quarter, compared to analysts’ expectations of $29.94 billion. During the same quarter in the previous year, the business posted $1.05 earnings per share. equities research analysts expect that Phillips 66 will post 4.58 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Tuesday, October 17th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date of this dividend was Thursday, November 16th. Phillips 66’s payout ratio is presently 70.53%.

Phillips 66 declared that its board has approved a share buyback program on Monday, October 9th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the oil and gas company to purchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

In other news, VP Chukwuemeka A. Oyolu sold 1,151 shares of the company’s stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $89.08, for a total value of $102,531.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.50% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Joel Isaacson & Co. LLC lifted its stake in Phillips 66 by 0.4% in the second quarter. Joel Isaacson & Co. LLC now owns 3,821 shares of the oil and gas company’s stock worth $316,000 after acquiring an additional 14 shares during the period. Hudock Capital Group LLC lifted its stake in Phillips 66 by 0.6% in the second quarter. Hudock Capital Group LLC now owns 2,509 shares of the oil and gas company’s stock worth $207,000 after acquiring an additional 16 shares during the period. Good Life Advisors LLC lifted its stake in Phillips 66 by 0.3% in the second quarter. Good Life Advisors LLC now owns 6,198 shares of the oil and gas company’s stock worth $511,000 after acquiring an additional 17 shares during the period. Girard Partners LTD. lifted its stake in Phillips 66 by 0.7% in the second quarter. Girard Partners LTD. now owns 3,275 shares of the oil and gas company’s stock worth $271,000 after acquiring an additional 23 shares during the period. Finally, Spinnaker Trust lifted its stake in Phillips 66 by 0.7% in the second quarter. Spinnaker Trust now owns 4,208 shares of the oil and gas company’s stock worth $348,000 after acquiring an additional 30 shares during the period. 70.24% of the stock is owned by institutional investors.

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Phillips 66 Company Profile

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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