Analyst Activity - Cowen and Company Reiterates Buy on Phillips 66 (NYSE:PSX)

Lloyd Doyle
October 18, 2017

Ruffer Llp sold 225,842 shares as Phillips 66 (PSX)'s stock declined 0.52%. This buyback authorization authorizes the oil and gas company to repurchase shares of its stock through open market purchases.

PSX has been the subject of several recent analyst reports. The rating was maintained by Barclays Capital on Wednesday, August 2 with "Equal-Weight". Phillips 66 (NYSE:PSX) has noticeable measure of stock volatility, for this average true range is an exponential moving average (14 trading days) of the True Ranges. Jefferies Group LLC reissued a hold rating and issued a $78.00 price target on shares of Phillips 66 in a report on Tuesday, September 5th. BidaskClub lowered shares of Phillips 66 from a hold rating to a sell rating in a report on Friday, August 18th. Goldman Sachs upgraded Phillips 66 (NYSE:PSX) on Tuesday, October 3 to "Buy" rating. Scotiabank reaffirmed a "hold" rating on shares of Phillips 66 in a report on Friday, September 8th.

Phillips 66 (NYSE:PSX) last posted its earnings results on Tuesday, August 1st. The stock increased 0.15% or $0.14 on October 13, reaching $94.43.

Company shares are trading at $93.21 slightly over the 50 day moving average which is $88.92 and well above the 200 day moving average of $82.43. The firm has a market capitalization of $46.48 billion, a PE ratio of 27.19 and a beta of 1.19. Phillips 66 has $114 highest and $63 lowest target. The value of the investment in (PSX) decreased from $3,453,000 to $3,420,000 a change of 1.0% since the last quarter. Analysts expect next quarter's EPS will be $1.12 and the next full year EPS is projected to be $5.99. The company had revenue of $24.58 billion during the quarter, compared to analyst estimates of $25.14 billion. Phillips 66 had a return on equity of 6.29% and a net margin of 1.87%. During the same quarter in the previous year, the firm posted $0.94 EPS. In the latest earnings report the EPS was $3.34 and is estimated to be $4.34 for the current year with 511,510,000 shares now outstanding.

COPYRIGHT VIOLATION NOTICE: This piece of content was published by TrueBlueTribune and is the sole property of of TrueBlueTribune. The original version of this piece can be accessed at Institutional investors and hedge funds own 69.54% of the company's stock. Stock buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Tuesday, October 17th will be issued a dividend of $0.70 per share. The volume of PSX witnessed a shift from 3.56 million shares, based on a 50-day average, to 2.01 million shares.

On 5/3/2017 Phillips 66 announced a quarterly dividend of $0.70 3.58% with an ex dividend date of 5/16/2017 which will be payable on 6/1/2017.

Rowan Companies plc (RDC) is recuperating from the fall at $9.02, the 52-week low. The stock was sold at an average price of $89.08, for a total transaction of $102,531.08. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Jacobi Capital Management LLC boosted its holdings in Phillips 66 by 27.4% in the first quarter. Comerica Securities Inc sold 4,222 shares as the company's stock rose 4.17% with the market.

Hm Payson & Company increased Phillips 66 (PSX) stake by 1.2% reported in 2017Q2 SEC filing. The Hm Payson & Company holds 318,207 shares with $26.31M value, up from 314,432 last quarter.

Foundation Resource Management Inc isn't the only one who has changed their investment in PSX.

Foundation Resource Management Inc says it decreased its investment in Phillips 66 shares by 2,807 shares as of the end of the last quarter. Hudock Capital Group LLC increased its stake in Phillips 66 by 0.6% in the second quarter. Moreover, New Mexico Educational Retirement Board has 0.16% invested in Phillips 66 (NYSE:PSX) for 40,728 shares.

Phillips 66, launched on November 10, 2011, is an energy manufacturing and logistics company with midstream, chemicals, refining, and marketing and specialties businesses.

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