Phillips 66 (NYSE:PSX) Upgraded by StockNews.com to “Buy”

StockNews.com upgraded shares of Phillips 66 (NYSE:PSXFree Report) from a hold rating to a buy rating in a report issued on Saturday morning.

Other research analysts have also issued reports about the company. Wolfe Research upgraded Phillips 66 from a peer perform rating to an outperform rating and set a $146.00 price target for the company in a research report on Tuesday, October 31st. Raymond James increased their price objective on Phillips 66 from $140.00 to $155.00 and gave the company an outperform rating in a research note on Thursday, February 1st. Wells Fargo & Company increased their price objective on Phillips 66 from $151.00 to $163.00 and gave the company an overweight rating in a research note on Thursday, February 1st. Barclays increased their price objective on Phillips 66 from $132.00 to $139.00 and gave the company an equal weight rating in a research note on Monday, February 5th. Finally, Citigroup assumed coverage on Phillips 66 in a research note on Wednesday, January 24th. They issued a buy rating on the stock. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Phillips 66 currently has an average rating of Moderate Buy and an average target price of $138.21.

Read Our Latest Research Report on Phillips 66

Phillips 66 Trading Down 0.8 %

PSX opened at $145.66 on Friday. Phillips 66 has a 52 week low of $89.74 and a 52 week high of $149.52. The business has a fifty day simple moving average of $134.19 and a 200-day simple moving average of $122.04. The firm has a market cap of $64.08 billion, a P/E ratio of 9.42, a P/E/G ratio of 1.91 and a beta of 1.38. The company has a quick ratio of 0.96, a current ratio of 1.29 and a debt-to-equity ratio of 0.58.

Phillips 66 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Tuesday, February 20th will be paid a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date of this dividend is Friday, February 16th. Phillips 66’s dividend payout ratio is presently 27.15%.

Insider Buying and Selling at Phillips 66

In other news, EVP Zhanna Golodryga sold 5,253 shares of Phillips 66 stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $135.00, for a total transaction of $709,155.00. Following the sale, the executive vice president now owns 24,914 shares in the company, valued at $3,363,390. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Joseph Scott Pruitt sold 1,000 shares of Phillips 66 stock in a transaction dated Tuesday, December 19th. The stock was sold at an average price of $133.23, for a total transaction of $133,230.00. Following the sale, the vice president now owns 6,593 shares in the company, valued at $878,385.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Zhanna Golodryga sold 5,253 shares of Phillips 66 stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $135.00, for a total value of $709,155.00. Following the sale, the executive vice president now owns 24,914 shares in the company, valued at approximately $3,363,390. The disclosure for this sale can be found here. Insiders have sold a total of 41,653 shares of company stock worth $5,462,808 over the last ninety days. Corporate insiders own 4.57% of the company’s stock.

Institutional Trading of Phillips 66

A number of hedge funds and other institutional investors have recently made changes to their positions in PSX. YHB Investment Advisors Inc. grew its holdings in shares of Phillips 66 by 2.1% during the second quarter. YHB Investment Advisors Inc. now owns 12,991 shares of the oil and gas company’s stock worth $1,239,000 after buying an additional 265 shares during the last quarter. Choate Investment Advisors purchased a new position in shares of Phillips 66 during the third quarter worth about $247,000. Pinebridge Investments L.P. grew its holdings in shares of Phillips 66 by 8.9% during the second quarter. Pinebridge Investments L.P. now owns 210,402 shares of the oil and gas company’s stock worth $20,068,000 after buying an additional 17,226 shares during the last quarter. Hussman Strategic Advisors Inc. purchased a new position in shares of Phillips 66 during the second quarter worth about $1,793,000. Finally, Illinois Municipal Retirement Fund grew its holdings in shares of Phillips 66 by 14.7% during the second quarter. Illinois Municipal Retirement Fund now owns 125,791 shares of the oil and gas company’s stock worth $11,998,000 after buying an additional 16,092 shares during the last quarter. Institutional investors and hedge funds own 71.83% of the company’s stock.

Phillips 66 Company Profile

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Phillips 66 operates as an energy manufacturing and logistics company in the United States, the United Kingdom, Germany, and internationally. 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 petroleum products to market; provides terminaling and storage services for crude oil and refined 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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Analyst Recommendations for Phillips 66 (NYSE:PSX)

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