Comparable Company Analysis: Phillips 66 (PSX), Hanesbrands Inc. (HBI)

As Harvard Bioscience (HBIO) Market Valuation Declined, First Light Asset Management Increased Holding; Aristotle Capital Management Has Boosted Its Phillips 66 (PSX) Holding by $12.68 Million

The Phillips 66 (PSX) Shares Bought by Wells Fargo & Company MN

Phillips 66 (NYSE:PSX) shares were trading lower by -0.69 percent ($-0.68) at $97.59 a piece in Wednesday's session. During the same quarter last year, the company posted $1.05 earnings per share. equities research analysts expect that Phillips 66 will post 4.58 earnings per share for the current fiscal year.

PSX has been the subject of several research analyst reports. The stock of Phillips 66 (NYSE:PSX) earned "Buy" rating by Piper Jaffray on Thursday, July 13. Scotiabank restated a hold rating on shares of Phillips 66 in a research report on Friday, September 8th. Goldman Sachs Group raised Phillips 66 from a "neutral" rating to a "buy" rating and upped their price target for the company from $88.00 to $109.00 in a report on Tuesday, October 3rd.

Among 18 analysts covering Phillips 66 (NYSE:PSX), 8 have Buy rating, 2 Sell and 8 Hold. Symantec Corporation has 2 buy ratings, 16 holds and 0 sells even after the stock tumbled -19.77% from its high of $34.20 to a $16.88 billion market value through last close.

Corp trimmed its holdings in shares of Phillips 66 (NYSE:PSX) by 0.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The stock has a market cap of $49,887.64, a PE ratio of 28.11, a PEG ratio of 2.50 and a beta of 1.24. Phillips 66 has a 12 month low of $75.14 and a 12 month high of $99.35.

The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.86 and a current ratio of 1.31.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Friday, October 27th. The oil and gas company reported $1.66 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.62 by $0.04. The firm had revenue of $26.21 billion for the quarter, compared to the consensus estimate of $29.94 billion.

The refining industry was under intense pressure in 2016 due to several headwinds, which weighed on Phillips 66's refining business and pushed profits down from $2.5 billion in 2015 to just $277 million a year ago. State Street Corp boosted its position in Phillips 66 by 4.0% during the 1st quarter.

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. This repurchase authorization authorizes the oil and gas company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Qci Asset Ny invested in 0% or 62 shares. This represents a $2.80 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date was Thursday, November 16th. Phillips 66's payout ratio is 70.18%.

In other news, VP Chukwuemeka A. Oyolu sold 1,151 shares of the company's stock in a transaction that occurred on Tuesday, September 19th. The share price has moved forward from its 20 days moving average, trading at a distance of 4.37% and stays 5.72% away from its 50 days moving average. Insiders own 0.50% of the company's stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC now owns 7,520,743 shares of the oil and gas company's stock valued at $621,890,000 after purchasing an additional 2,036,258 shares during the period. Vanguard Group Inc. increased its holdings in shares of Phillips 66 by 0.4% during the second quarter. BlackRock Inc. boosted its stake in Phillips 66 by 0.7% during the second quarter. Ltd. boosted its stake in Phillips 66 by 1,197.9% in the fourth quarter. Russell Investments Group Ltd. now owns 1,608,000 shares of the oil and gas company's stock valued at $132,965,000 after purchasing an additional 720,568 shares during the last quarter.

Institutional investors have also been busy with the stock.

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 piece on another publication, it was copied illegally and republished in violation of USA & global trademark & copyright legislation. Ruffer Llp who had been investing in Phillips 66 for a number of months, seems to be less bullish one the $50.08B market cap company. The Company operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S).

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