Phillips 66 (NYSE:PSX) was the recipient of a significant drop in short interest in the month of November. As of November 29th, there was short interest totalling 5,320,000 shares, a drop of 15.4% from the November 14th total of 6,290,000 shares. Based on an average daily trading volume, of 2,520,000 shares, the short-interest ratio is presently 2.1 days. Approximately 1.2% of the company’s shares are short sold.
NYSE:PSX traded down $0.74 during trading hours on Friday, hitting $112.99. The stock had a trading volume of 1,492,300 shares, compared to its average volume of 2,591,388. Phillips 66 has a 1-year low of $78.44 and a 1-year high of $119.92. The company has a current ratio of 1.29, a quick ratio of 0.84 and a debt-to-equity ratio of 0.41. The company has a market cap of $49.86 billion, a PE ratio of 9.65, a price-to-earnings-growth ratio of 1.96 and a beta of 1.11. The business has a 50 day simple moving average of $116.07 and a two-hundred day simple moving average of $102.21.
Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Friday, October 25th. The oil and gas company reported $3.11 earnings per share for the quarter, topping analysts’ consensus estimates of $2.60 by $0.51. Phillips 66 had a net margin of 4.17% and a return on equity of 19.31%. The business had revenue of $27.77 billion during the quarter, compared to the consensus estimate of $28.31 billion. During the same quarter last year, the company earned $3.10 earnings per share. Research analysts expect that Phillips 66 will post 8.79 EPS for the current fiscal year.
In related news, EVP Robert A. Herman sold 47,433 shares of the firm’s stock in a transaction that occurred 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Chukwuemeka A. Oyolu sold 464 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $119.53, for a total transaction of $55,461.92. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in PSX. Advisors Preferred LLC bought a new stake in shares of Phillips 66 during the second quarter valued at about $25,000. Atwater Malick LLC bought a new position in Phillips 66 in the 3rd quarter worth approximately $27,000. TRUE Private Wealth Advisors bought a new position in Phillips 66 in the 2nd quarter worth approximately $26,000. Rational Advisors LLC increased its position in Phillips 66 by 41.1% in the 3rd quarter. Rational Advisors LLC now owns 374 shares of the oil and gas company’s stock worth $38,000 after buying an additional 109 shares during the period. Finally, Coastal Capital Group Inc. bought a new position in Phillips 66 in the 2nd quarter worth approximately $37,000. Hedge funds and other institutional investors own 68.42% of the company’s stock.
PSX has been the subject of several recent research reports. Morgan Stanley increased their price objective on shares of Phillips 66 from $115.00 to $125.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. Cowen increased their price objective on shares of Phillips 66 from $125.00 to $130.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Wells Fargo & Co increased their price objective on shares of Phillips 66 from $130.00 to $132.00 and gave the company an “outperform” rating in a research report on Wednesday, September 25th. Zacks Investment Research downgraded shares of Phillips 66 from a “buy” rating to a “hold” rating and set a $125.00 price objective for the company. in a research report on Tuesday, October 29th. Finally, Raymond James increased their price objective on shares of Phillips 66 from $117.00 to $120.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $119.80.
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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