Phillips 66 (NYSE:PSX) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Phillips 66 (NYSE:PSX) have been assigned an average rating of “Moderate Buy” from the fourteen research firms that are currently covering the company, Marketbeat.com reports. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $137.86.

A number of equities research analysts recently issued reports on the stock. Raymond James dropped their price objective on shares of Phillips 66 from $150.00 to $140.00 and set an “outperform” rating for the company in a report on Wednesday, April 9th. Mizuho increased their price target on shares of Phillips 66 from $132.00 to $138.00 and gave the company a “neutral” rating in a research note on Tuesday, May 13th. Wells Fargo & Company reduced their price target on shares of Phillips 66 from $162.00 to $149.00 and set an “overweight” rating on the stock in a research report on Monday, April 28th. Morgan Stanley lowered their price objective on Phillips 66 from $140.00 to $122.00 and set an “equal weight” rating for the company in a research report on Thursday, April 24th. Finally, JPMorgan Chase & Co. reduced their target price on Phillips 66 from $138.00 to $131.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 29th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in PSX. Woodline Partners LP raised its holdings in Phillips 66 by 40.7% during the first quarter. Woodline Partners LP now owns 34,891 shares of the oil and gas company’s stock worth $4,308,000 after purchasing an additional 10,089 shares in the last quarter. MBB Public Markets I LLC purchased a new position in shares of Phillips 66 during the 1st quarter worth approximately $305,000. RNC Capital Management LLC raised its stake in shares of Phillips 66 by 0.5% during the 1st quarter. RNC Capital Management LLC now owns 334,871 shares of the oil and gas company’s stock worth $41,350,000 after buying an additional 1,825 shares in the last quarter. Coppell Advisory Solutions LLC lifted its holdings in shares of Phillips 66 by 11,086.7% in the 1st quarter. Coppell Advisory Solutions LLC now owns 21,031 shares of the oil and gas company’s stock valued at $2,597,000 after buying an additional 20,843 shares during the period. Finally, United Services Automobile Association purchased a new stake in shares of Phillips 66 in the first quarter valued at approximately $1,182,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 Trading Up 0.7%

Shares of Phillips 66 stock opened at $125.69 on Wednesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The stock’s 50 day simple moving average is $111.61 and its 200-day simple moving average is $119.21. The stock has a market cap of $51.21 billion, a P/E ratio of 25.44, a P/E/G ratio of 4.84 and a beta of 1.01. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $150.12.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.97). Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. The company had revenue of $31.92 billion for the quarter, compared to analyst estimates of $31.93 billion. During the same period last year, the firm posted $1.90 EPS. Analysts predict 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 will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be paid a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 3.82%. The ex-dividend date of this dividend is Monday, May 19th. This is a boost from Phillips 66’s previous quarterly dividend of $1.15. Phillips 66’s dividend payout ratio (DPR) is 109.34%.

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.