Shares of Phillips 66 (NYSE:PSX) have been given an average recommendation of “Hold” by the fourteen research firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $123.89.
Several research firms have commented on PSX. Morgan Stanley lowered their price objective on shares of Phillips 66 from $140.00 to $120.00 and set a “hold” rating for the company in a research report on Tuesday, November 20th. Zacks Investment Research upgraded shares of Phillips 66 from a “hold” rating to a “buy” rating and set a $100.00 price objective for the company in a research report on Monday, November 26th. Tudor Pickering upgraded shares of Phillips 66 from a “hold” rating to a “buy” rating in a research report on Friday, February 8th. ValuEngine lowered shares of Phillips 66 from a “hold” rating to a “sell” rating in a research report on Friday, November 23rd. Finally, Jefferies Financial Group upgraded shares of Phillips 66 from a “hold” rating to a “buy” rating in a research report on Thursday, December 20th.
PSX stock opened at $98.89 on Friday. Phillips 66 has a 52 week low of $78.44 and a 52 week high of $123.97. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.48 and a quick ratio of 1.08. The firm has a market cap of $44.91 billion, a price-to-earnings ratio of 8.44, a price-to-earnings-growth ratio of 1.38 and a beta of 0.94.
The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Tuesday, February 19th were paid a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 3.24%. The ex-dividend date of this dividend was Friday, February 15th. Phillips 66’s dividend payout ratio is currently 27.33%.
In other news, Chairman Greg C. Garland sold 42,728 shares of the stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $97.61, for a total value of $4,170,680.08. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.56% of the company’s stock.
A number of hedge funds have recently bought and sold shares of PSX. Oregon Public Employees Retirement Fund increased its stake in Phillips 66 by 3,775.2% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 4,647,103 shares of the oil and gas company’s stock worth $54,000 after buying an additional 4,527,183 shares during the period. Norges Bank purchased a new position in Phillips 66 in the 4th quarter worth about $386,757,000. BlackRock Inc. increased its stake in Phillips 66 by 13.6% in the 3rd quarter. BlackRock Inc. now owns 33,103,803 shares of the oil and gas company’s stock worth $3,731,461,000 after buying an additional 3,956,900 shares during the period. LSV Asset Management increased its stake in Phillips 66 by 96.9% in the 4th quarter. LSV Asset Management now owns 3,201,428 shares of the oil and gas company’s stock worth $275,803,000 after buying an additional 1,575,744 shares during the period. Finally, Renaissance Technologies LLC purchased a new position in Phillips 66 in the 3rd quarter worth about $110,916,000. 69.97% of the stock is currently owned by institutional investors.
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, and provides terminaling and storage services for crude oil and petroleum products; transports, stores, fractionates, and markets natural gas liquids, exports LPG, and provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.
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