Phillips 66 (NYSE:PSX) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Phillips 66 (NYSE:PSX) have been assigned an average recommendation of “Moderate Buy” from the fourteen brokerages that are currently covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $148.00.

Several analysts have weighed in on the company. Wells Fargo & Company boosted their price objective on Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Wolfe Research upgraded Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective for the company in a research report on Friday, January 3rd. Piper Sandler downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Mizuho lowered their price objective on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a research report on Monday, December 16th. Finally, Barclays reduced their target price on Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th.

Institutional Investors Weigh In On Phillips 66

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its stake in Phillips 66 by 7.3% in the fourth quarter. Bank of New York Mellon Corp now owns 9,344,342 shares of the oil and gas company’s stock worth $1,064,601,000 after purchasing an additional 639,323 shares during the period. Geode Capital Management LLC boosted its holdings in Phillips 66 by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 8,530,242 shares of the oil and gas company’s stock worth $968,844,000 after acquiring an additional 82,758 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Phillips 66 by 283.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,026,649 shares of the oil and gas company’s stock worth $686,618,000 after acquiring an additional 4,455,220 shares in the last quarter. Northern Trust Corp boosted its holdings in Phillips 66 by 10.6% in the fourth quarter. Northern Trust Corp now owns 4,589,079 shares of the oil and gas company’s stock worth $522,834,000 after acquiring an additional 440,107 shares in the last quarter. Finally, Norges Bank bought a new stake in Phillips 66 in the fourth quarter worth $497,648,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Stock Performance

NYSE:PSX opened at $122.48 on Friday. The business has a 50 day moving average of $121.11 and a 200 day moving average of $126.51. The company has a market capitalization of $49.93 billion, a price-to-earnings ratio of 24.79, a PEG ratio of 4.84 and a beta of 1.37. Phillips 66 has a 1-year low of $108.90 and a 1-year high of $174.08. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of $1.23 by ($1.38). Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same period in the prior year, the company posted $3.09 earnings per share. On average, sell-side analysts predict that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Monday, February 24th will be paid a $1.15 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $4.60 annualized dividend and a yield of 3.76%. Phillips 66’s payout ratio is 93.12%.

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.