Phillips 66 (NYSE:PSX) Upgraded to “Outperform” at Royal Bank of Canada

Royal Bank of Canada upgraded shares of Phillips 66 (NYSE:PSX) from a sector perform rating to an outperform rating in a research note released on Sunday morning, Benzinga reports. They currently have $67.00 target price on the oil and gas company’s stock.

Several other equities analysts also recently commented on the company. Zacks Investment Research downgraded Phillips 66 from a hold rating to a sell rating and set a $58.00 target price on the stock. in a research report on Friday. Barclays initiated coverage on Phillips 66 in a research report on Tuesday, January 14th. They issued an overweight rating and a $122.00 target price on the stock. Cfra decreased their target price on Phillips 66 from $110.00 to $49.00 and set a buy rating on the stock in a research report on Friday, March 20th. Cowen decreased their target price on Phillips 66 from $127.00 to $115.00 and set an outperform rating on the stock in a research report on Monday, February 3rd. Finally, Morgan Stanley raised Phillips 66 from an equal weight rating to an overweight rating and set a $68.00 target price on the stock in a research report on Monday, March 16th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and fifteen have issued a buy rating to the company’s stock. Phillips 66 has an average rating of Buy and an average price target of $91.36.

NYSE PSX traded down $0.95 during trading on Friday, reaching $53.21. 2,164,713 shares of the company’s stock were exchanged, compared to its average volume of 6,525,651. The business has a 50 day moving average price of $70.04 and a 200-day moving average price of $98.74. The stock has a market capitalization of $22.99 billion, a P/E ratio of 7.85, a PEG ratio of 1.22 and a beta of 1.17. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.24 and a quick ratio of 0.91. Phillips 66 has a fifty-two week low of $40.04 and a fifty-two week high of $119.92.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Friday, January 31st. The oil and gas company reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.53 by $0.01. The firm had revenue of $29.61 billion for the quarter, compared to the consensus estimate of $27.30 billion. Phillips 66 had a return on equity of 13.51% and a net margin of 2.81%. During the same quarter in the previous year, the business earned $4.87 earnings per share. On average, analysts forecast that Phillips 66 will post 6.41 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Tuesday, February 18th were paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 6.77%. The ex-dividend date of this dividend was Friday, February 14th. Phillips 66’s payout ratio is presently 44.72%.

In other Phillips 66 news, Director John E. Lowe bought 1,000 shares of the business’s stock in a transaction on Monday, March 2nd. The stock was purchased at an average cost of $74.93 per share, for a total transaction of $74,930.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.13% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Allred Capital Management LLC bought a new position in shares of Phillips 66 in the 4th quarter valued at $27,000. Total Clarity Wealth Management Inc. bought a new position in shares of Phillips 66 in the 4th quarter valued at $28,000. Lighthouse Financial Advisors Inc. bought a new position in shares of Phillips 66 in the 4th quarter valued at $30,000. Savior LLC bought a new position in Phillips 66 during the 4th quarter worth $32,000. Finally, JFS Wealth Advisors LLC raised its position in Phillips 66 by 56.9% during the 4th quarter. JFS Wealth Advisors LLC now owns 317 shares of the oil and gas company’s stock worth $35,000 after purchasing an additional 115 shares during the last quarter. Institutional investors own 69.99% of the company’s stock.

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; provides terminaling and storage services for crude oil and petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.

Read More: Hold Rating

Analyst Recommendations for Phillips 66 (NYSE:PSX)

Receive News & Ratings for Phillips 66 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Phillips 66 and related companies with MarketBeat.com's FREE daily email newsletter.