Phillips 66 (NYSE:PSX) Coverage Initiated at Evercore ISI

Stock analysts at Evercore ISI assumed coverage on shares of Phillips 66 (NYSE:PSX) in a research report issued to clients and investors on Wednesday, The Fly reports. The brokerage set an “outperform” rating on the oil and gas company’s stock.

PSX has been the subject of several other reports. Citigroup upgraded Phillips 66 from a “neutral” rating to a “buy” rating in a research report on Friday, June 21st. JPMorgan Chase & Co. decreased their price objective on Phillips 66 from $126.00 to $115.00 and set an “overweight” rating for the company in a research report on Tuesday, September 10th. Macquarie began coverage on Phillips 66 in a research report on Thursday, September 5th. They issued an “outperform” rating for the company. Cowen boosted their price objective on Phillips 66 from $112.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Finally, Wells Fargo & Co boosted their price objective on Phillips 66 from $130.00 to $132.00 and gave the company an “outperform” rating in a research report on Wednesday, September 25th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $113.50.

Shares of Phillips 66 stock traded up $1.99 during trading on Wednesday, hitting $100.86. 2,091,746 shares of the company were exchanged, compared to its average volume of 2,635,108. The firm has a market capitalization of $45.32 billion, a P/E ratio of 8.61, a price-to-earnings-growth ratio of 2.07 and a beta of 1.07. Phillips 66 has a 1-year low of $78.44 and a 1-year high of $119.14. The firm’s fifty day moving average price is $100.49 and its 200 day moving average price is $95.20. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.28 and a quick ratio of 0.82.

Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, July 26th. The oil and gas company reported $3.02 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.70 by $0.32. The company had revenue of $28.52 billion during the quarter, compared to analyst estimates of $29.89 billion. Phillips 66 had a return on equity of 19.75% and a net margin of 4.76%. During the same period in the previous year, the company earned $2.80 EPS. As a group, equities research analysts anticipate that Phillips 66 will post 7.5 earnings per share for the current year.

In other Phillips 66 news, EVP Robert A. Herman sold 47,433 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $103.17, for a total value of $4,893,662.61. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.13% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PSX. Advisors Preferred LLC acquired a new position in shares of Phillips 66 during the 2nd quarter worth approximately $25,000. TRUE Private Wealth Advisors acquired a new position in shares of Phillips 66 during the 2nd quarter worth approximately $26,000. Manchester Financial Inc. acquired a new position in shares of Phillips 66 during the 2nd quarter worth approximately $32,000. Coastal Capital Group Inc. acquired a new position in Phillips 66 in the 2nd quarter valued at $37,000. Finally, TCG Advisors LP acquired a new position in Phillips 66 in the 1st quarter valued at $38,000. Hedge funds and other institutional investors own 68.71% 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.

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The Fly

Analyst Recommendations for Phillips 66 (NYSE:PSX)

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