Other equities research analysts have also issued research reports about the stock. Evercore ISI initiated coverage on shares of Phillips 66 in a research note on Wednesday, October 2nd. They set an “outperform” rating on the stock. Cowen boosted their price objective on shares of Phillips 66 from $112.00 to $115.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. dropped their price objective on shares of Phillips 66 from $126.00 to $115.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 10th. Morgan Stanley boosted their price objective on shares of Phillips 66 from $102.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Finally, Macquarie initiated coverage on shares of Phillips 66 in a research note on Thursday, September 5th. They set an “outperform” rating on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $114.80.
Shares of PSX opened at $110.63 on Friday. The firm’s 50-day moving average price is $103.80 and its 200-day moving average price is $96.14. The firm has a market capitalization of $48.79 billion, a price-to-earnings ratio of 9.45, a PEG ratio of 2.16 and a beta of 1.07. The company has a current ratio of 1.28, a quick ratio of 0.82 and a debt-to-equity ratio of 0.39. Phillips 66 has a 1-year low of $78.44 and a 1-year high of $110.97.
In other Phillips 66 news, EVP Robert A. Herman sold 47,433 shares of Phillips 66 stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.13% of the stock is currently owned by insiders.
Institutional investors have recently modified their holdings of the business. Advisors Preferred LLC purchased a new position in Phillips 66 in the second quarter worth about $25,000. TRUE Private Wealth Advisors purchased a new position in Phillips 66 in the second quarter worth about $26,000. Atwater Malick LLC purchased a new position in shares of Phillips 66 during the third quarter valued at approximately $27,000. Manchester Financial Inc. purchased a new position in shares of Phillips 66 during the second quarter valued at approximately $32,000. Finally, Coastal Capital Group Inc. purchased a new position in shares of Phillips 66 during the second quarter valued at approximately $37,000. 68.74% of the stock is owned by institutional investors and hedge funds.
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; 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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