Economy

Jefferies Downgrades Rating On Phillips 66 (PSX) To "Underperform"

Phillips 66 (NYSE:PSX) slipped over -3.77% at $90.87, after hitting low of $90.7 in an intra-day trade. As of the end of the quarter LAU Associates LLC had disposed of 58 shares trimming its stake by 0.1%.

Hm Payson & Company increased Phillips 66 (PSX) stake by 1.2% reported in 2017Q2 SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Guardian Life Insurance Co. of America now owns 1,708 shares of the oil and gas company's stock valued at $135,000 after acquiring an additional 11 shares during the period. The Vice President & Controller now owns $0 of the stock per an SEC filing yesterday. Smithfield Comm holds 0.03% of its portfolio in Phillips 66 (NYSE:PSX) for 2,654 shares.

Lincoln Cap Ltd Liability Com holds 4.27% of its portfolio in Phillips 66 (NYSE:PSX) for 82,243 shares. Us-based Ancora Advsr Llc has invested 0.16% in Phillips 66 (NYSE:PSX). Good Life Advisors LLC now owns 6,198 shares of the oil and gas company's stock worth $511,000 after acquiring an additional 17 shares in the last quarter. Tci Wealth Advisors Incorporated holds 0.12% of its portfolio in Phillips 66 (NYSE:PSX) for 2,779 shares.

As of quarter end Midwest Investment Management LLC had sold a total of 846 shares trimming its position 1.7%. Hedge funds and other institutional investors own 69.54% of the company's stock. The total value of its holdings increased 8.9%. Linscomb Williams Inc owns 8,057 shares or 0.06% of their U.S. portfolio.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Tuesday, August 1st. If you are accessing this news story on another site, it was stolen and reposted in violation of USA & worldwide copyright laws. The original version of this piece of content can be accessed at https://www.truebluetribune.com/2017/10/17/fmr-llc-buys-2036258-shares-of-phillips-66-psx.html. BidaskClub cut shares of Phillips 66 from a "hold" rating to a "sell" rating in a research note on Friday, August 18th. Barclays Capital maintained it with "Overweight" rating and $105.0 target in Monday, November 2 report. The company now has a consensus rating of Hold and an average target price of $92.43. Zacks Investment Research raised Phillips 66 from a "hold" rating to a "buy" rating and set a $105.00 price target for the company in a report on Tuesday, October 10th.

Rowan Companies plc (RDC) is recuperating from the fall at $9.02, the 52-week low.

Among 15 analysts covering Novartis Ag (NYSE:NVS), 5 have Buy rating, 2 Sell and 8 Hold. Homrich And Berg reported 0.03% in Phillips 66 (NYSE:PSX). Scotiabank reaffirmed a "hold" rating and set a $86.00 price objective on shares of Phillips 66 in a research note on Tuesday, June 27th. The company's market cap is $46.44 Billion, and the average volume is 2.01 Million. The stock ended last trade at $117.48 a share and the price is up more than 49.16% so far this year. The monthly performance for Phillips 66 is 3.65% that leads to 14.58% in its yearly performance. Pennsylvania Trust Co grew its holdings in shares of Phillips 66 by 698.9% in the second quarter. They expect $1.25 EPS, up 1.63% or $0.02 from last year's $1.23 per share. The business had revenue of $24.58 billion during the quarter, compared to the consensus estimate of $25.14 billion.

Phillips 66 now measures the Current ratio at 1.4 and displays the quick ratio at 0.9. During the same quarter in the previous year, the firm posted $0.94 EPS. On average, analysts anticipate that Phillips 66 will post $4.34 earnings per share for the current fiscal year. Additionally the company recently declared a dividend payable on Friday the 1st of December 2017. Investors of record on Tuesday, October 17th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.97%. Focused Wealth stated it has 0% of its portfolio in Phillips 66 (NYSE:PSX).

Phillips 66 announced that its Board of Directors has authorized a share repurchase program on Monday, October 9th that authorizes the company to buyback $3.00 billion in shares.



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