Phillips 66 (NYSE:PSX) Receives $135.62 Consensus PT from Brokerages

Phillips 66 (NYSE:PSX) has been given a consensus rating of “Moderate Buy” by the fourteen analysts that are presently covering the firm, MarketBeat Ratings reports. Six analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $135.46.

A number of equities research analysts have commented on PSX shares. Raymond James reduced their target price on Phillips 66 from $150.00 to $140.00 and set an “outperform” rating for the company in a report on Wednesday, April 9th. Scotiabank reduced their target price on Phillips 66 from $136.00 to $133.00 and set a “sector outperform” rating for the company in a report on Friday, April 11th. TD Cowen lifted their price target on Phillips 66 from $114.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, May 13th. JPMorgan Chase & Co. cut their price target on Phillips 66 from $138.00 to $131.00 and set an “overweight” rating for the company in a research note on Tuesday, April 29th. Finally, UBS Group cut their price target on Phillips 66 from $144.00 to $140.00 and set a “buy” rating for the company in a research note on Monday, April 28th.

Phillips 66 Trading Up 0.6%

PSX opened at $122.20 on Friday. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. Phillips 66 has a 52 week low of $91.01 and a 52 week high of $150.12. The business’s 50 day moving average is $109.84 and its two-hundred day moving average is $117.46. The firm has a market cap of $49.79 billion, a price-to-earnings ratio of 24.74, a price-to-earnings-growth ratio of 4.84 and a beta of 1.02.

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

Phillips 66 Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were given a dividend of $1.20 per share. This is a boost from Phillips 66’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend was Monday, May 19th. This represents a $4.80 dividend on an annualized basis and a yield of 3.93%. Phillips 66’s dividend payout ratio (DPR) is presently 109.34%.

Insider Activity at Phillips 66

In related news, Director Robert W. Pease purchased 439 shares of Phillips 66 stock in a transaction on Thursday, May 22nd. The stock was bought at an average price of $113.85 per share, with a total value of $49,980.15. Following the completion of the transaction, the director now directly owns 4,091 shares of the company’s stock, valued at approximately $465,760.35. This represents a 12.02% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.22% of the company’s stock.

Institutional Trading of Phillips 66

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Forum Financial Management LP lifted its position in shares of Phillips 66 by 1.0% in the fourth quarter. Forum Financial Management LP now owns 7,486 shares of the oil and gas company’s stock worth $853,000 after buying an additional 77 shares during the last quarter. NewEdge Wealth LLC increased its stake in shares of Phillips 66 by 0.5% in the fourth quarter. NewEdge Wealth LLC now owns 15,199 shares of the oil and gas company’s stock worth $1,732,000 after purchasing an additional 81 shares during the period. WealthTrust Axiom LLC increased its stake in shares of Phillips 66 by 1.1% in the first quarter. WealthTrust Axiom LLC now owns 7,241 shares of the oil and gas company’s stock worth $894,000 after purchasing an additional 81 shares during the period. JBR Co Financial Management Inc increased its stake in shares of Phillips 66 by 0.9% in the fourth quarter. JBR Co Financial Management Inc now owns 9,520 shares of the oil and gas company’s stock worth $1,085,000 after purchasing an additional 85 shares during the period. Finally, Nwam LLC increased its stake in shares of Phillips 66 by 2.2% in the fourth quarter. Nwam LLC now owns 3,876 shares of the oil and gas company’s stock worth $442,000 after purchasing an additional 85 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Company Profile

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.