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.
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
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