Weekly Research Analysts’ Ratings Updates for Phillips 66 (PSX)

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Phillips 66 (NYSE: PSX) recently received a number of ratings updates from brokerages and research firms:

  • 8/17/2018 – Phillips 66 was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 8/16/2018 – Phillips 66 was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $129.00 price target on the stock. According to Zacks, “In terms of size, efficiency and strength, Phillips 66 is a leading player in each of its operational segments – refining, chemicals and midstream. We appreciate the company’s intention to allocate money to more profitable business units like Midstream and Chemicals instead of extensive refining and marketing operations. Moreover, the expansion project of Sweeny Hub is expected to largely benefit the company’s the Midstream segment and optimize its natural gas liquids’ value chain in the coming quarters. The updated refining assets of Phillips 66 make it well-positioned for the upcoming changes in regulations of IMO 2020. Also, Phillips 66 is strongly committed in returning cash back to the shareholders. Consequently, we think the company offers upside potential from current levels and label it as an attractive investment.”
  • 8/15/2018 – Phillips 66 had its price target raised by analysts at Citigroup Inc from $124.00 to $126.00. They now have a “neutral” rating on the stock.
  • 8/14/2018 – Phillips 66 was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “In terms of size, efficiency and strength, Phillips 66 is a leading player in each of its operational segments – refining, chemicals and midstream. We appreciate Phillips 66’s intention to allocate money to more profitable business units like Midstream and Chemicals instead of extensive refining and marketing operations. The expansion project of Sweeny Hub is expected to benefit the company’s the Midstream segment and optimize its natural gas liquids’ value chain in the coming quarters. The updated refining asset of Phillips 66 bodes well for the upcoming changes in regulations of IMO 2020. However, through 2014 the company’s long-term debt has been continuously increasing and even during the first-half of 2018, there has been 9.5% increase. Moreover, cash balances plunged nearly 40%, reflecting balance sheet concerns. Phillips 66 also witnessed an upswing in product cost that is reflected in higher total costs.”
  • 8/1/2018 – Phillips 66 is now covered by analysts at Mizuho. They set a “neutral” rating and a $124.00 price target on the stock.
  • 8/1/2018 – Phillips 66 was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $137.00 price target on the stock. According to Zacks, “In terms of size, efficiency and strength, Phillips 66 is a leading player in each of its operational segments – refining, chemicals and midstream. We appreciate the company’s intention to allocate money to more profitable business units like Midstream and Chemicals instead of extensive refining and marketing operations. Moreover, the expansion project of Sweeny Hub is expected to largely benefit the company’s the Midstream segment and optimize its natural gas liquids’ value chain in the coming quarters. The updated refining assets of Phillips 66 make it well-positioned for the upcoming changes in regulations of IMO 2020. Also, Phillips 66 is strongly committed in returning cash back to the shareholders. Consequently, we think the company offers upside potential from current levels and label it as an attractive investment.”
  • 7/16/2018 – Phillips 66 had its price target raised by analysts at Morgan Stanley from $135.00 to $140.00. They now have an “equal weight” rating on the stock.

Shares of Phillips 66 stock opened at $115.44 on Monday. Phillips 66 has a twelve month low of $80.73 and a twelve month high of $123.97. The firm has a market capitalization of $56.91 billion, a P/E ratio of 26.36, a PEG ratio of 1.90 and a beta of 1.06. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 1.24.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Friday, July 27th. The oil and gas company reported $2.80 EPS for the quarter, topping the Zacks’ consensus estimate of $2.16 by $0.64. The company had revenue of $29.74 billion for the quarter, compared to analysts’ expectations of $29.40 billion. Phillips 66 had a return on equity of 12.87% and a net margin of 5.34%. During the same quarter in the previous year, the firm posted $1.09 earnings per share. equities research analysts predict that Phillips 66 will post 7.57 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 4th. Stockholders of record on Tuesday, August 21st will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date is Monday, August 20th. Phillips 66’s payout ratio is 73.06%.

Several hedge funds and other institutional investors have recently made changes to their positions in PSX. Global X Management Co. LLC increased its holdings in Phillips 66 by 25.2% in the first quarter. Global X Management Co. LLC now owns 4,298 shares of the oil and gas company’s stock valued at $412,000 after buying an additional 865 shares during the last quarter. Daiwa Securities Group Inc. increased its holdings in Phillips 66 by 66.9% in the first quarter. Daiwa Securities Group Inc. now owns 22,686 shares of the oil and gas company’s stock valued at $2,176,000 after buying an additional 9,096 shares during the last quarter. Rhumbline Advisers increased its holdings in Phillips 66 by 6.1% in the first quarter. Rhumbline Advisers now owns 855,373 shares of the oil and gas company’s stock valued at $82,047,000 after buying an additional 48,846 shares during the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH increased its holdings in Phillips 66 by 26.4% in the first quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 47,296 shares of the oil and gas company’s stock valued at $4,442,000 after buying an additional 9,893 shares during the last quarter. Finally, Biondo Investment Advisors LLC increased its holdings in Phillips 66 by 1.4% in the first quarter. Biondo Investment Advisors LLC now owns 40,385 shares of the oil and gas company’s stock valued at $3,901,000 after buying an additional 555 shares during the last quarter. 69.69% of the stock is currently owned by institutional investors and hedge funds.

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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