Piper Jaffray Companies Reiterates Overweight Rating for Phillips 66 (PSX)

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Phillips 66 (NYSE:PSX)‘s stock had its “overweight” rating reaffirmed by research analysts at Piper Jaffray Companies in a research note issued to investors on Thursday, Marketbeat Ratings reports. Piper Jaffray Companies also issued estimates for Phillips 66’s Q2 2020 earnings at $3.21 EPS.

Other research analysts have also recently issued research reports about the stock. Morgan Stanley dropped their price target on shares of Phillips 66 from $140.00 to $120.00 and set a “hold” rating on the stock in a research note on Tuesday, November 20th. Raymond James reduced their target price on shares of Phillips 66 from $139.00 to $135.00 and set an “outperform” rating on the stock in a report on Monday, October 29th. Zacks Investment Research upgraded shares of Phillips 66 from a “hold” rating to a “buy” rating and set a $100.00 target price on the stock in a report on Monday, November 26th. Jefferies Financial Group upgraded shares of Phillips 66 from an “underperform” rating to a “hold” rating and set a $108.00 price target on the stock in a report on Tuesday, October 16th. Finally, ValuEngine downgraded shares of Phillips 66 from a “hold” rating to a “sell” rating in a report on Friday, November 23rd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $121.87.

Shares of Phillips 66 stock opened at $92.69 on Thursday. The firm has a market cap of $42.42 billion, a PE ratio of 21.16, a price-to-earnings-growth ratio of 1.17 and a beta of 0.91. Phillips 66 has a 1-year low of $78.44 and a 1-year high of $123.97. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.82 and a current ratio of 1.28.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Friday, October 26th. The oil and gas company reported $3.10 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.50 by $0.60. The business had revenue of $30.59 billion for the quarter, compared to analysts’ expectations of $28.50 billion. Phillips 66 had a net margin of 5.72% and a return on equity of 14.97%. During the same quarter last year, the company posted $1.66 EPS. As a group, equities analysts expect that Phillips 66 will post 9.18 EPS for the current fiscal year.

In related news, Director J Brian Ferguson acquired 21,500 shares of the stock in a transaction on Tuesday, November 20th. The stock was bought at an average cost of $92.31 per share, with a total value of $1,984,665.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.56% of the stock is owned by insiders.

Institutional investors have recently added to or reduced their stakes in the business. Moody National Bank Trust Division boosted its position in Phillips 66 by 425.4% in the 4th quarter. Moody National Bank Trust Division now owns 352 shares of the oil and gas company’s stock valued at $30,000 after buying an additional 285 shares during the period. IMS Capital Management purchased a new stake in Phillips 66 in the 3rd quarter valued at about $86,000. Capital Advisors Ltd. LLC boosted its position in Phillips 66 by 152.4% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 944 shares of the oil and gas company’s stock valued at $106,000 after buying an additional 570 shares during the period. Willingdon Wealth Management purchased a new stake in Phillips 66 in the 3rd quarter valued at about $139,000. Finally, Ropes Wealth Advisors LLC boosted its position in Phillips 66 by 136.5% in the 3rd quarter. Ropes Wealth Advisors LLC now owns 1,386 shares of the oil and gas company’s stock valued at $156,000 after buying an additional 800 shares during the period. 69.19% of the stock is owned by institutional investors.

Phillips 66 Company Profile

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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Analyst Recommendations for Phillips 66 (NYSE:PSX)

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