Phillips 66 to sell 25% stake in Rockies Pipeline for $1.28 bln
U.S. oil refiner Phillips 66 said on Friday it would sell its 25% stake in the Rockies Express Pipeline (REX) for about $1.28 billion, including debt, to a subsidiary of Tallgrass Energy.
Phillips 66 (PSX) Outperforms Broader Market: What You Need to Know
In the most recent trading session, Phillips 66 (PSX) closed at $137.67, indicating a +1.22% shift from the previous trading day.
Why Retain Strategy is Apt for Phillips 66 (PSX) Stock Now
Phillips 66 (PSX) focuses more on businesses like midstream, renewables and chemicals. This makes the company?
Phillips 66 Deploys Asset Base 'Near Historical Highs' To Meet Peak Summer Demand: Analyst
Phillips 66 PSX announced a binding open season for shipper commitments for services on its Blue Line System.
Phillips 66 Launches Open Season for Blue Line System
Phillips 66, a leading energy company, has announced that its subsidiary, Phillips 66 Pipeline, LLC, is initiating a binding open season to solicit shipper commitments for services on its Blue Line System. This pipeline transports propane and butane from Wichita, KS, to Jefferson City, MO, and East St. Louis, IL.
Phillips 66 (PSX) Launches Open Season for Blue Line System
Phillips 66 (PSX) announces the launch of a 30-day open season for the Blue Line System, inviting shippers to secure long-term LPG transport services between Kansas, MO, and Illinois.
Phillips 66 (PSX) Joins PSP to Enhance Community Development
With the inclusion of Phillips 66 (PSX) and Energy Transfer (ET), PSP's efforts are expected to amplify its positive impacts on the Permian Basin.
Investors Heavily Search Phillips 66 (PSX): Here is What You Need to Know
Recently, Zacks.com users have been paying close attention to Phillips 66 (PSX). This makes it worthwhile to examine what the stock has in store.
Phillips 66 (PSX) Acquires Lucrative Midland Basin Assets
Phillips 66 (PSX) aims to increase its natural gas processing footprint in the Midland Basin through its acquisition of Pinnacle Midland from a private equity firm, Energy Spectrum Capital.
Phillips 66 to buy PE-owned Pinnacle Midland for $550 mln
Phillips 66 on Monday agreed to acquire Pinnacle Midland, a midstream company owned by private equity firm Energy Spectrum Capital, for $550 million in cash, expanding the U.S. refiner's natural gas gathering and processing footprint in the Midland Basin.
1,600 Shares in Phillips 66 (NYSE:PSX) Acquired by Meridian Wealth Management LLC
Meridian Wealth Management LLC purchased a new position in Phillips 66 (NYSE:PSX – Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,600 shares of the oil and gas company’s stock, valued at approximately $213,000. Several other large investors also recently added to or reduced their stakes in the business. DekaBank Deutsche Girozentrale grew its stake in Phillips 66 by 12.4% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 201,592 shares of the oil and gas company’s stock worth $26,501,000 after buying an additional 22,278 shares in the last quarter. Eldred Rock Partners LLC purchased a new stake in Phillips 66 during the fourth quarter valued at about $10,402,000. First Dallas Securities Inc. purchased a new stake in Phillips 66 during the third quarter valued at about $753,000. TIAA Trust National Association lifted its stake in Phillips 66 by 32.9% during the fourth quarter. TIAA Trust National Association now owns 14,816 shares of the oil and gas company’s stock worth $1,973,000 after purchasing an additional 3,670 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its holdings in shares of Phillips 66 by 27.7% in the 4th quarter. Daiwa Securities Group Inc. now owns 48,601 shares of the oil and gas company’s stock worth $6,470,000 after purchasing an additional 10,536 shares in the last quarter. Institutional investors own 76.93% of the company’s stock. Insider Buying and Selling at Phillips 66 In other news, VP Joseph Scott Pruitt sold 7,200 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $157.26, for a total value of $1,132,272.00. Following the sale, the vice president now directly owns 6,583 shares of the company’s stock, valued at approximately $1,035,242.58. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.22% of the company’s stock. Wall Street Analyst Weigh In A number of equities analysts recently weighed in on the company. JPMorgan Chase & Co. raised their price objective on Phillips 66 from $149.00 to $167.00 and gave the company an “overweight” rating in a report on Monday, April 1st. Citigroup initiated coverage on shares of Phillips 66 in a research note on Wednesday, January 24th. They issued a “buy” rating for the company. Wells Fargo & Company lifted their target price on shares of Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Bank of America upped their price target on shares of Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a research report on Friday, March 15th. Finally, Scotiabank boosted their target price on Phillips 66 from $148.00 to $156.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 11th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, Phillips 66 presently has an average rating of “Moderate Buy” and an average target price of $156.21. Check Out Our Latest Stock Report on Phillips 66 Phillips 66 Price Performance PSX stock opened at $147.08 on Monday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.17 and a quick ratio of 0.82. Phillips 66 has a 1 year low of $89.74 and a 1 year high of $174.08. The firm has a 50-day moving average of $155.59 and a 200 day moving average of $140.68. The company has a market cap of $62.35 billion, a P/E ratio of 11.31, a PEG ratio of 1.98 and a beta of 1.41. Phillips 66 (NYSE:PSX – Get Free Report) last issued its quarterly earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share for the quarter, missing the consensus estimate of $2.05 by ($0.15). Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. The firm had revenue of $36.44 billion during the quarter, compared to analysts’ expectations of $35.87 billion. During the same period in the previous year, the company earned $4.21 earnings per share. On average, sell-side analysts forecast that Phillips 66 will post 12.38 EPS for the current year. Phillips 66 Increases Dividend The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date of this dividend is Friday, May 17th. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s dividend payout ratio is 35.38%. About Phillips 66 (Free Report) Phillips 66 operates as an energy manufacturing and logistics company in the United States, the United Kingdom, Germany, and internationally. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks; delivers refined petroleum products to market; provides terminaling and storage services for crude oil and refined petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.
Why Retain Strategy is Apt for Phillips 66 (PSX) Stock Now
Phillips 66 (PSX) focuses more on businesses like midstream, renewables and chemicals. This makes the company's business model more stable.
