Phillips 66 (PSX) Rating Reiterated by Royal Bank of Canada

Phillips 66 (NYSE:PSX)‘s stock had its “hold” rating reissued by investment analysts at Royal Bank of Canada in a research note issued on Wednesday. They currently have a $102.00 price objective on the oil and gas company’s stock. Royal Bank of Canada’s target price points to a potential upside of 1.92% from the stock’s previous close.

Other analysts have also recently issued reports about the stock. Cowen restated a “buy” rating and issued a $101.00 price target on shares of Phillips 66 in a 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 target on the stock in a report on Monday, October 16th. Zacks Investment Research upgraded shares of Phillips 66 from a “hold” rating to a “buy” rating and set a $105.00 price target on the stock in a report on Tuesday, October 10th. Goldman Sachs Group upgraded shares of Phillips 66 from a “neutral” rating to a “buy” rating and raised their price target for the company from $88.00 to $109.00 in a report on Tuesday, October 3rd. Finally, Piper Jaffray Companies restated a “buy” rating and issued a $98.00 price target on shares of Phillips 66 in a report on Tuesday, September 26th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. Phillips 66 has a consensus rating of “Hold” and a consensus target price of $94.14.

Phillips 66 (PSX) opened at $100.08 on Wednesday. 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 has a 1-year low of $75.14 and a 1-year high of $100.98. The stock has a market cap of $50,711.18, a PE ratio of 28.57, a price-to-earnings-growth ratio of 2.55 and a beta of 1.24.

Phillips 66 (NYSE:PSX) last issued its earnings results on Friday, October 27th. The oil and gas company reported $1.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 company had revenue of $26.21 billion for the quarter, compared to analysts’ expectations of $29.94 billion. During the same period in the prior year, the business earned $1.05 EPS. equities analysts anticipate that Phillips 66 will post 4.57 earnings per share for the current year.

Phillips 66 announced that its board has approved a share repurchase program on Monday, October 9th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the oil and gas company to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

In related news, VP Chukwuemeka A. Oyolu sold 2,700 shares of Phillips 66 stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $100.25, for a total value of $270,675.00. Following the completion of the sale, the vice president now directly owns 2,700 shares in the company, valued at approximately $270,675. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.50% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of PSX. Motco raised its position in Phillips 66 by 4.0% during the 2nd quarter. Motco now owns 1,309 shares of the oil and gas company’s stock worth $108,000 after buying an additional 50 shares during the last quarter. Bruderman Asset Management LLC purchased a new position in Phillips 66 during the 2nd quarter worth approximately $112,000. Ffcm LLC purchased a new position in Phillips 66 during the 2nd quarter worth approximately $113,000. Meeder Asset Management Inc. purchased a new position in Phillips 66 during the 2nd quarter worth approximately $116,000. Finally, Mountain Capital Investment Advisors Inc purchased a new position in Phillips 66 during the 2nd quarter worth approximately $127,000. 70.13% 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.

Analyst Recommendations for Phillips 66 (NYSE:PSX)

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