Phillips 66 (NYSE:PSX) Reaches New 1-Year High at $108.32

Phillips 66 (NYSE:PSX)’s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $108.32 and last traded at $108.04, with a volume of 13374 shares changing hands. The stock had previously closed at $107.20.

PSX has been the topic of several analyst reports. Morgan Stanley boosted their price target on shares of Phillips 66 from $102.00 to $115.00 and gave the company an “equal weight” rating in a report on Tuesday. Scotiabank initiated coverage on shares of Phillips 66 in a report on Tuesday, September 3rd. They issued an “outperform” rating on the stock. Evercore ISI initiated coverage on shares of Phillips 66 in a report on Wednesday, October 2nd. They issued an “outperform” rating on the stock. Wells Fargo & Co boosted their price target on shares of Phillips 66 from $130.00 to $132.00 and gave the company an “outperform” rating in a report on Wednesday, September 25th. Finally, ValuEngine raised shares of Phillips 66 from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Phillips 66 currently has a consensus rating of “Buy” and a consensus target price of $114.80.

The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.82 and a current ratio of 1.28. The company’s 50 day moving average price is $103.37 and its 200 day moving average price is $96.02. The company has a market cap of $48.96 billion, a price-to-earnings ratio of 9.29, a P/E/G ratio of 2.13 and a beta of 1.07.

Phillips 66 (NYSE:PSX) last issued its earnings results on Friday, July 26th. The oil and gas company reported $3.02 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.70 by $0.32. Phillips 66 had a net margin of 4.76% and a return on equity of 19.75%. The company had revenue of $28.52 billion for the quarter, compared to the consensus estimate of $29.89 billion. During the same quarter in the previous year, the company earned $2.80 EPS. As a group, analysts predict that Phillips 66 will post 7.75 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be paid a $0.90 dividend. The ex-dividend date is Friday, November 15th. This represents a $3.60 annualized dividend and a dividend yield of 3.31%. Phillips 66’s dividend payout ratio is presently 30.74%.

In other news, EVP Robert A. Herman sold 47,433 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $103.17, for a total value of $4,893,662.61. The sale was disclosed in a filing with the SEC, which is available at this link. 0.13% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of PSX. Nuveen Asset Management LLC boosted its stake in shares of Phillips 66 by 3,861.0% in the 2nd quarter. Nuveen Asset Management LLC now owns 3,744,797 shares of the oil and gas company’s stock valued at $350,288,000 after purchasing an additional 3,650,256 shares in the last quarter. Wells Fargo & Company MN lifted its position in Phillips 66 by 19.7% during the 2nd quarter. Wells Fargo & Company MN now owns 10,863,480 shares of the oil and gas company’s stock worth $1,016,170,000 after buying an additional 1,790,537 shares in the last quarter. Vanguard Group Inc. lifted its position in Phillips 66 by 3.3% during the 2nd quarter. Vanguard Group Inc. now owns 36,451,696 shares of the oil and gas company’s stock worth $3,409,691,000 after buying an additional 1,172,468 shares in the last quarter. Waddell & Reed Financial Inc. lifted its position in Phillips 66 by 248.3% during the 2nd quarter. Waddell & Reed Financial Inc. now owns 1,511,127 shares of the oil and gas company’s stock worth $141,351,000 after buying an additional 1,077,246 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in Phillips 66 by 126.5% during the 2nd quarter. First Trust Advisors LP now owns 1,421,214 shares of the oil and gas company’s stock worth $132,940,000 after buying an additional 793,875 shares in the last quarter. Institutional investors own 68.74% of the company’s stock.

Phillips 66 Company Profile (NYSE:PSX)

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: Initial Coin Offering (ICO)

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