Phillips 66 (PSX) Downgraded by US Capital Advisors

Phillips 66 (NYSE:PSX) was downgraded by investment analysts at US Capital Advisors from an “overweight” rating to a “hold” rating in a report released 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.

Several other equities research analysts have also recently issued reports on PSX. BidaskClub cut Phillips 66 from a “hold” rating to a “sell” rating in a report on Friday, August 18th. Jefferies Group restated a “hold” rating and set a $78.00 price objective on shares of Phillips 66 in a report on Tuesday, September 5th. Scotiabank restated a “hold” rating on shares of Phillips 66 in a report on Friday, September 8th. Piper Jaffray Companies restated a “buy” rating and set a $98.00 price objective on shares of Phillips 66 in a report on Tuesday, September 26th. Finally, Howard Weil upgraded Phillips 66 from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $86.00 to $98.00 in a report on Thursday, September 28th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company’s stock. Phillips 66 currently has a consensus rating of “Hold” and a consensus target price of $93.25.

Shares of Phillips 66 (NYSE PSX) opened at $98.27 on Monday. Phillips 66 has a fifty-two week low of $75.14 and a fifty-two week high of $99.35. The company has a current ratio of 1.31, a quick ratio of 0.86 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $49,908.11, a price-to-earnings ratio of 28.12, a PEG ratio of 2.50 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 (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.04. Phillips 66 had a return on equity of 7.58% and a net margin of 2.11%. The business had revenue of $26.21 billion for the quarter, compared to analysts’ expectations of $29.94 billion. During the same quarter last year, the firm earned $1.05 earnings per share. research analysts expect that Phillips 66 will post 4.59 EPS for the current fiscal year.

Phillips 66 declared that its Board of Directors has authorized a stock repurchase program on Monday, October 9th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the oil and gas company to purchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

In related news, VP Chukwuemeka A. Oyolu sold 1,151 shares of the stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $89.08, for a total value of $102,531.08. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.50% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Phillips 66 by 0.4% in the second quarter. Vanguard Group Inc. now owns 31,826,155 shares of the oil and gas company’s stock valued at $2,631,704,000 after purchasing an additional 130,653 shares during the period. BlackRock Inc. raised its position in Phillips 66 by 0.7% in the second quarter. BlackRock Inc. now owns 28,025,035 shares of the oil and gas company’s stock valued at $2,317,389,000 after purchasing an additional 203,138 shares during the period. State Street Corp raised its position in Phillips 66 by 4.0% in the first quarter. State Street Corp now owns 24,085,903 shares of the oil and gas company’s stock valued at $1,908,079,000 after purchasing an additional 921,895 shares during the period. Wells Fargo & Company MN raised its position in Phillips 66 by 0.9% in the second quarter. Wells Fargo & Company MN now owns 8,422,039 shares of the oil and gas company’s stock valued at $696,418,000 after purchasing an additional 71,098 shares during the period. Finally, FMR LLC raised its position in Phillips 66 by 37.1% in the second quarter. FMR LLC now owns 7,520,743 shares of the oil and gas company’s stock valued at $621,890,000 after purchasing an additional 2,036,258 shares during the period. 70.24% of the stock is currently 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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