Brokerage firm Cowen & Company Upgrades its rating on Phillips 66(NYSE:PSX). The shares have been rated Outperform. Previously, the analysts had a Market Perform rating on the shares. The rating by Cowen & Company was issued on Aug 3, 2016.
In a different note, On Jul 13, 2016, Barclays said it Downgrades its rating on Phillips 66. In the research note, the firm Lowers the price-target to $93.00 per share. The shares have been rated ‘Equal-weight’ by the firm. On Jul 11, 2016, Scotia Howard Weil said it Downgrades its rating on Phillips 66. The shares have been rated ‘Sector Perform’ by the firm. On Jun 17, 2016, Morgan Stanley said it Downgrades its rating on Phillips 66. The shares have been rated ‘Equal-weight’ by the firm. On Jun 10, 2016, JP Morgan said it Maintains its rating on Phillips 66. In the research note, the firm Lowers the price-target to $80.00 per share. The shares have been rated ‘Neutral’ by the firm. UBS said it Initiates Coverage on Phillips 66, according to a research note issued on May 19, 2016. The shares have been rated ‘Neutral’ by the firm.
Phillips 66 (PSX) made into the market gainers list on Fridays trading session with the shares advancing 0.83% or 0.65 points. Due to strong positive momentum, the stock ended at $78.81, which is also near the day’s high of $78.9. The stock began the session at $78.39 and the volume stood at 24,54,488 shares. The 52-week high of the shares is $94.12 and the 52 week low is $69.79. The company has a current market capitalization of $41,206 M and it has 52,28,49,330 shares in outstanding.
Phillips 66 has also declared a cash dividend of $0.6300 on Jul 13, 2016. The shares will quote ex-dividend on Aug 16, 2016 and the record date has been fixed on Aug 18, 2016. The dividend payable date has been fixed on Sep 1, 2016.
Phillips 66(PSX) last announced its earnings results on Jul 29, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $22.31B. Analysts had an estimated revenue of $25.52B. Earnings per share were $0.94. Analysts had estimated an EPS of $1.03.
Several Insider Transactions has been reported to the SEC. On Jun 30, 2016, Paula Ann Johnson (Executive VP and Gen Counsel) sold 40,141 shares at $79.57 per share price.Also, On Jun 30, 2016, Timothy Garth Taylor (President) sold 50,000 shares at $78.00 per share price.On Jun 14, 2016, William R Jr Loomis (director) purchased 12,680 shares at $78.86 per share price, according to the Form-4 filing with the securities and exchange commission.
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. It gathers processes transports and markets natural gas and transports fractionates and markets natural gas liquids (NGL) in the United States. The Chemical segment manufactures and markets petrochemicals and plastics. The Chemicals segment consists of its 50% equity investment in Chevron Phillips Chemical Company LLC (CPChem). The refining segment buys sells and refines crude oil and other feedstocks into petroleum products (such as gasolines distillates and aviation fuels) at 14 refineries mainly in the United States and Europe. The Marketing and Specialties segment purchases for resale and markets refined petroleum products (such as gasolines distillates and aviation fuels) mainly in the United States and Europe.