Phillips 66 (NYSE:PSX) Price Target Raised to $186.00

Phillips 66 (NYSE:PSX) had its price target hoisted by The Goldman Sachs Group from $168.00 to $186.00 in a report published on Thursday morning,Benzinga reports. The firm currently has a neutral rating on the oil and gas company’s stock.

PSX has been the subject of a number of other research reports. Scotiabank reaffirmed a “sector perform” rating and issued a $140.00 target price on shares of Phillips 66 in a research report on Friday, January 16th. Weiss Ratings raised shares of Phillips 66 from a “hold (c)” rating to a “buy (b-)” rating in a research report on Monday, February 23rd. Mizuho increased their price objective on shares of Phillips 66 from $150.00 to $152.00 and gave the stock a “neutral” rating in a research note on Monday, January 12th. Raymond James Financial raised their price objective on Phillips 66 from $160.00 to $175.00 and gave the company an “outperform” rating in a report on Friday, January 23rd. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $170.00 target price on shares of Phillips 66 in a research report on Friday, February 6th. Eleven investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat, Phillips 66 currently has an average rating of “Hold” and a consensus price target of $161.33.

Phillips 66 Price Performance

PSX stock opened at $172.85 on Thursday. The stock has a 50-day moving average price of $151.43 and a two-hundred day moving average price of $140.12. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $178.38. The stock has a market cap of $69.27 billion, a PE ratio of 15.98, a price-to-earnings-growth ratio of 0.60 and a beta of 0.86. The company has a current ratio of 1.30, a quick ratio of 0.91 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Wednesday, February 4th. The oil and gas company reported $2.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.32. The business had revenue of $32.16 billion during the quarter, compared to the consensus estimate of $33.81 billion. Phillips 66 had a return on equity of 9.13% and a net margin of 3.22%.During the same period last year, the company earned ($0.15) earnings per share. Equities analysts forecast that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 4th. Stockholders of record on Monday, February 23rd were issued a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Monday, February 23rd. This is a positive change from Phillips 66’s previous quarterly dividend of $1.20. Phillips 66’s payout ratio is currently 46.95%.

Insider Activity at Phillips 66

In related news, CFO Kevin J. Mitchell sold 16,856 shares of the firm’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $168.22, for a total value of $2,835,516.32. Following the completion of the sale, the chief financial officer directly owned 97,376 shares in the company, valued at approximately $16,380,590.72. This trade represents a 14.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Vanessa Allen Sutherland sold 4,394 shares of Phillips 66 stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $150.00, for a total value of $659,100.00. Following the transaction, the executive vice president owned 25,799 shares of the company’s stock, valued at $3,869,850. The trade was a 14.55% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 38,088 shares of company stock worth $6,147,655. Insiders own 0.22% of the company’s stock.

Institutional Investors Weigh In On Phillips 66

Several hedge funds have recently added to or reduced their stakes in the business. Board of the Pension Protection Fund bought a new position in shares of Phillips 66 in the fourth quarter valued at about $26,000. Accordant Advisory Group Inc boosted its holdings in shares of Phillips 66 by 900.0% during the 4th quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company’s stock worth $26,000 after buying an additional 180 shares during the period. SWAN Capital LLC grew its stake in Phillips 66 by 1,055.6% in the 4th quarter. SWAN Capital LLC now owns 208 shares of the oil and gas company’s stock valued at $27,000 after buying an additional 190 shares during the last quarter. Evolution Wealth Management Inc. acquired a new position in Phillips 66 in the 2nd quarter valued at about $25,000. Finally, Eagle Bay Advisors LLC bought a new position in Phillips 66 in the 4th quarter valued at about $27,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Company Profile

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.