Today The Phillips 66 (PSX) Lifted to Buy at Citigroup Inc.

Today The Phillips 66 (PSX) Lifted to Buy at Citigroup Inc.

Phillips 66 (NYSE:PSX) was upgraded by analysts at Citigroup Inc. from a “neutral” rating to a “buy” rating in a note issued to investors on Wednesday.

A number of other equities analysts have also weighed in on the company. Vetr raised Phillips 66 from a “buy” rating to a “strong-buy” rating and set a $94.28 target price on the stock in a research report on Tuesday, September 27th. TheStreet lowered Phillips 66 from a “b” rating to a “c+” rating in a research report on Thursday, January 12th. Goldman Sachs Group, Inc. (The) raised Phillips 66 from a “sell” rating to a “neutral” rating and upped their target price for the stock from $74.00 to $85.00 in a research report on Thursday, September 29th. Barclays PLC reaffirmed an “equal weight” rating and set a $84.00 target price (down from $86.00) on shares of Phillips 66 in a research report on Monday, October 10th. Finally, Zacks Investment Research raised Phillips 66 from a “strong sell” rating to a “hold” rating in a research report on Wednesday, September 28th. Fourteen analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $84.80.

Shares of Phillips 66 (NYSE:PSX) opened at 84.19 on Wednesday. Phillips 66 has a 52-week low of $71.74 and a 52-week high of $90.87. The stock has a 50 day moving average price of $85.86 and a 200-day moving average price of $80.99. The firm has a market cap of $43.85 billion, a PE ratio of 22.05 and a beta of 1.34.

Phillips 66 (NYSE:PSX) last issued its earnings results on Friday, October 28th. The company reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.17. Phillips 66 had a return on equity of 8.86% and a net margin of 2.43%. During the same quarter last year, the business earned $3.02 EPS. On average, equities analysts anticipate that Phillips 66 will post $3.11 EPS for the current fiscal year.

In related news, VP Lawrence Michael Ziemba sold 101,909 shares of the firm’s stock in a transaction dated Friday, December 2nd. The stock was sold at an average price of $85.24, for a total transaction of $8,686,723.16. Following the transaction, the vice president now directly owns 113,996 shares of the company’s stock, valued at approximately $9,717,019.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Greg C. Garland sold 76,165 shares of the firm’s stock in a transaction dated Thursday, November 10th. The shares were sold at an average price of $83.48, for a total value of $6,358,254.20. Following the transaction, the chairman now directly owns 96,325 shares in the company, valued at $8,041,211. The disclosure for this sale can be found here. Over the last three months, insiders have sold 359,865 shares of company stock worth $29,941,412. 0.05% of the stock is currently owned by insiders.

Institutional investors have recently bought and sold shares of the company. Aberdeen Asset Management PLC UK raised its position in Phillips 66 by 1.2% in the second quarter. Aberdeen Asset Management PLC UK now owns 269,229 shares of the company’s stock valued at $21,361,000 after buying an additional 3,289 shares during the last quarter. State Board of Administration of Florida Retirement System raised its position in Phillips 66 by 9.9% in the second quarter. State Board of Administration of Florida Retirement System now owns 732,963 shares of the company’s stock valued at $58,153,000 after buying an additional 65,973 shares during the last quarter. Todd Asset Management LLC raised its position in Phillips 66 by 8.6% in the second quarter. Todd Asset Management LLC now owns 579,706 shares of the company’s stock valued at $45,994,000 after buying an additional 45,926 shares during the last quarter. Creative Planning raised its position in Phillips 66 by 1.4% in the third quarter. Creative Planning now owns 80,260 shares of the company’s stock valued at $6,465,000 after buying an additional 1,121 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its position in Phillips 66 by 27.6% in the third quarter. Ameriprise Financial Inc. now owns 681,630 shares of the company’s stock valued at $54,868,000 after buying an additional 147,279 shares during the last quarter. Institutional investors and hedge funds own 69.12% of the company’s stock.

About Phillips 66

Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining and marketing, and specialties businesses. The Company operates its business through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment includes its equity investment in DCP Midstream , LLC (DCP Midstream) and its investment in Phillips 66 Partners LP.

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