November 24, 2016 - By Nellie Frank · 0 Comments
Phillips 66 (NYSE:PSX) institutional sentiment increased to 0.99 in Q2 2016. Its up 0.18, from 0.81 in 2016Q1. The ratio is more positive, as 381 hedge funds increased or opened new positions, while 469 sold and reduced stakes in Phillips 66. The hedge funds in our partner’s database reported: 360.95 million shares, down from 370.08 million shares in 2016Q1. Also, the number of hedge funds holding Phillips 66 in their top 10 positions decreased from 27 to 16 for a decrease of 11. Sold All: 75 Reduced: 394 Increased: 314 New Position: 67.
Phillips 66 is an energy manufacturing and logistics firm with midstream, chemicals, refining and marketing, and specialties businesses. The company has a market cap of $44.31 billion. The Firm operates its business through four divisions: Midstream, Chemicals, Refining, and Marketing and Specialties . It has a 22.29 P/E ratio. The Midstream segment includes its equity investment in DCP Midstream , LLC (DCP Midstream) and its investment in Phillips 66 Partners LP.
The stock increased 0.21% or $0.18 on November 23, hitting $85.06. About 2.68M shares traded hands or 15.02% up from the average. Phillips 66 (NYSE:PSX) has declined 3.32% since April 22, 2016 and is downtrending. It has underperformed by 8.73% the S&P500.
Analysts await Phillips 66 (NYSE:PSX) to report earnings on February, 3. They expect $0.69 EPS, down 47.33% or $0.62 from last year’s $1.31 per share. PSX’s profit will be $359.44M for 30.82 P/E if the $0.69 EPS becomes a reality. After $1.05 actual EPS reported by Phillips 66 for the previous quarter, Wall Street now forecasts -34.29% negative EPS growth.
According to Zacks Investment Research, “Phillips 66 is a downstream energy company. It operates in three segments: Refining & Marketing, Midstream and Chemicals. The Refining and Marketing segment purchases, refines, markets and transports crude oil and petroleum products, mainly in the United States, Europe and Asia and also engages in power generation activities, lubricants and other specialty products businesses. The Midstream segment gathers, processes, transports and markets natural gas and fractionates and markets NGL, predominantly in the United States. The Chemicals segment manufactures and markets petrochemicals and plastics. Phillips 66 is headquartered in Houston, Texas.”
Rr Partners Lp holds 9.42% of its portfolio in Phillips 66 for 2.73 million shares. Berkshire Hathaway Inc owns 78.78 million shares or 4.82% of their US portfolio. Moreover, Foundation Resource Management Inc has 3.71% invested in the company for 251,454 shares. The New York-based Norman Fields Gottscho Capital Management Llc has invested 3.55% in the stock. Torchmark Corp, a Texas-based fund reported 56,500 shares.#img1#
Insider Transactions: Since January 1, 0001, the stock had 8 insider buys, and 7 insider sales for $219.63 million net activity.
Ratings analysis reveals 7% of Phillips 66’s analysts are positive. Out of 15 Wall Street analysts rating Phillips 66, 1 give it “Buy”, 0 “Sell” rating, while 14 recommend “Hold”. The lowest target is $74 while the high is $114. The stock’s average target of $89 is 4.63% above today’s ($85.06) share price. PSX was included in 28 notes of analysts from August 4, 2015. The firm has “Market Perform” rating given on Monday, March 28 by Cowen & Co. The stock of Phillips 66 (NYSE:PSX) has “Sector Perform” rating given on Monday, July 11 by Howard Weil. Oppenheimer maintained the stock with “Outperform” rating in Friday, December 4 report. As per Monday, November 23, the company rating was downgraded by Goldman Sachs. JP Morgan maintained Phillips 66 (NYSE:PSX) rating on Monday, November 2. JP Morgan has “Neutral” rating and $91 price target. Barclays Capital downgraded Phillips 66 (NYSE:PSX) on Wednesday, July 13 to “Equal-Weight” rating. UBS initiated the shares of PSX in a report on Thursday, May 19 with “Neutral” rating. The firm has “Equal-Weight” rating given on Friday, June 17 by Morgan Stanley. The company was upgraded on Tuesday, October 27 by Credit Suisse. As per Friday, July 8, the company rating was downgraded by Wells Fargo.
Phillips 66, incorporated on November 10, 2011, is an energy manufacturing and logistics firm with midstream, chemicals, refining and marketing, and specialties businesses. The Firm operates its business through four divisions: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S).
More notable recent Phillips 66 (NYSE:PSX) news were published by: Seekingalpha.com which released: “Why Phillips 66’s Momentum Will Continue” on November 21, 2016, also Wsj.com with their article: “Phillips 66 Posts Revenue and Profit Decline” published on October 28, 2016, Fool.com published: “Better Buy: Suncor Energy Inc. vs. Phillips 66” on November 01, 2016. More interesting news about Phillips 66 (NYSE:PSX) were released by: Bizjournals.com and their article: “Houston’s Phillips 66 cuts 2016 spending expectations” published on October 28, 2016 as well as Reuters.com‘s news article titled: “Phillips 66 says construction continues on Dakota Access Pipeline” with publication date: October 28, 2016.
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By Nellie Frank