Phillips 66 (NYSE:PSX) Price Target Raised to $115.00

Phillips 66 (NYSE:PSX) had its target price raised by Barclays from $106.00 to $115.00 in a research note released on Monday,Benzinga reports. The brokerage currently has an equal weight rating on the oil and gas company’s stock.

PSX has been the subject of several other reports. Raymond James decreased their price objective on Phillips 66 from $150.00 to $140.00 and set an “outperform” rating for the company in a report on Wednesday, April 9th. Wells Fargo & Company cut their price target on Phillips 66 from $162.00 to $149.00 and set an “overweight” rating for the company in a research note on Monday, April 28th. TD Cowen cut their price target on Phillips 66 from $127.00 to $114.00 and set a “buy” rating for the company in a research note on Monday, April 28th. Scotiabank cut their price target on Phillips 66 from $136.00 to $133.00 and set a “sector outperform” rating for the company in a research note on Friday, April 11th. Finally, StockNews.com upgraded Phillips 66 from a “sell” rating to a “hold” rating in a research note on Monday, April 28th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $137.86.

Phillips 66 Price Performance

PSX stock opened at $124.35 on Monday. The company has a market capitalization of $50.66 billion, a P/E ratio of 25.17, a PEG ratio of 4.84 and a beta of 1.01. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $150.12. The business has a 50 day simple moving average of $111.60 and a 200-day simple moving average of $119.26. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.97). The firm had revenue of $31.92 billion during the quarter, compared to analyst estimates of $31.93 billion. Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same period in the previous year, the company posted $1.90 earnings per share. As a group, equities analysts anticipate that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be given a $1.20 dividend. This is a boost from Phillips 66’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Monday, May 19th. This represents a $4.80 annualized dividend and a yield of 3.86%. Phillips 66’s dividend payout ratio is presently 109.34%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Bogart Wealth LLC grew its holdings in Phillips 66 by 120.0% in the fourth quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 120 shares during the last quarter. J.Safra Asset Management Corp acquired a new stake in Phillips 66 in the fourth quarter valued at $25,000. Pacific Center for Financial Services acquired a new stake in Phillips 66 in the fourth quarter valued at $27,000. von Borstel & Associates Inc. acquired a new stake in Phillips 66 in the first quarter valued at $27,000. Finally, Stephens Consulting LLC grew its holdings in Phillips 66 by 83.5% in the fourth quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 111 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

About Phillips 66

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.