BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Decreases Position in Phillips 66 (PSX)

Cornelia Mascio
Dicembre 8, 2017

The stock of Phillips 66 (NYSE:PSX) earned "Hold" rating by RBC Capital Markets on Friday, April 21. Their activity in PSX in recent trading has also spurred interest in the stock. Piper Jaffray Companies reiterated an "overweight" rating and set a $88.00 price target on shares of Phillips 66 in a research report on Thursday, May 25th. Mizuho lifted their price target on shares of Phillips 66 from $55.00 to $63.00 and gave the company a "buy" rating in a research report on Monday, February 6th. Jefferies maintained Phillips 66 (NYSE:PSX) rating on Monday, September 4. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. The stock has a consensus rating of "Hold" and an average target price of $93.25. Phillips 66 (NYSE:PSX) has risen 0.77% since December 6, 2016 and is uptrending. The firm has a market cap of $49,887.64, a PE ratio of 28.11, a P/E/G ratio of 2.50 and a beta of 1.24. Of all companies tracked, Phillips 66 had the 27th highest net in-flow for the day. The company has a quick ratio of 0.86, a current ratio of 1.31 and a debt-to-equity ratio of 0.40. Norinchukin Bank The stated it has 0.05% of its portfolio in Phillips 66 (NYSE:PSX). The company's quarterly EPS surprised Wall Street by as much as 6% to the upside in its last earnings announcement, so investors should note this tendency when assessing consensus estimates. The firm had revenue of $26.21 billion for the quarter, compared to the consensus estimate of $29.94 billion.

The collective rating of 2.7 for Phillips 66 (NYSE:PSX) also leans strongly towards the neutral end of the spectrum. They expect $1.27 earnings per share, up 693.75% or $1.11 from last year's $0.16 per share.

Phillips 66 announced that its Board of Directors has authorized a stock buyback program on Monday, October 9th that authorizes the company to repurchase $3.00 billion in outstanding shares. Stock repurchase plans are typically a sign that the company's management believes its shares are undervalued. Qci Asset Ny invested in 0% or 62 shares. This represents a $2.80 annualized dividend and a yield of 2.87%. Finance.Yahoo.com's news article titled: "Phillips 66 (PSX): Ex-Dividend Is Coming In 3 Days, Should You Buy?" with publication date: November 12, 2017 was also an interesting one.

Phillips 66 (PSX) has demonstrated a 20-day simple moving average (SMA) of 4.37%, and a 50-day SMA of 5.72%.

In other Phillips 66 news, VP Chukwuemeka A. Oyolu sold 1,151 shares of the stock in a transaction on Tuesday, September 19th.

We can gain important insight by taking a look at institutional ownership, as detailed in public companies' latest 13F filings. Tiverton Asset Mngmt Limited Company invested 0.22% of its portfolio in Q2 Holdings, Inc. Two Sigma Securities LLC purchased a new stake in Phillips 66 during the 1st quarter worth $1,043,000. FMR LLC now owns 7,520,743 shares of the oil and gas company's stock valued at $621,890,000 after buying an additional 2,036,258 shares during the period. The Check Capital Management Inc holds 179,173 shares with $14.82 million value, down from 184,161 last quarter. State Street Corp now owns 24,085,903 shares of the oil and gas company's stock valued at $1,908,079,000 after purchasing an additional 921,895 shares during the last quarter. Sii Investments Inc. WI boosted its position in Phillips 66 by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 31,826,155 shares of the oil and gas company's stock worth $2,631,704,000 after acquiring an additional 130,653 shares during the period.

COPYRIGHT VIOLATION WARNING: "Investors Buy Phillips 66 (PSX) on Weakness" was originally reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this article on another domain, it was stolen and republished in violation of USA and worldwide trademark & copyright legislation. Thanks to an improvement in market conditions in the company's core refining business and the impact from recently completed midstream expansion projects, the energy logistics and manufacturing company's earnings have improved, which gave it more cash to return to shareholders.

The other highlight this year has been the company's midstream segment, where year-to-date earnings rose to $208 million, versus $154 million in the prior-year period. The Midstream segment gathers, processes, transports and markets natural gas, and transports, stores, fractionates and markets natural gas liquids (NGLs) in the United States.

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