Phillips 66 (NYSE:PSX) Receives $149.69 Average PT from Brokerages

Phillips 66 (NYSE:PSX) has received a consensus rating of “Moderate Buy” from the fifteen ratings firms that are presently covering the company, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $149.69.

Several brokerages recently issued reports on PSX. Wells Fargo & Company dropped their price objective on shares of Phillips 66 from $182.00 to $167.00 and set an “overweight” rating for the company in a research note on Wednesday, October 9th. UBS Group dropped their price target on Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a research report on Monday, November 4th. TD Cowen reduced their price objective on Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Barclays dropped their target price on Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating for the company in a report on Monday, November 11th. Finally, Raymond James lifted their price target on Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st.

Phillips 66 Price Performance

Shares of Phillips 66 stock opened at $134.25 on Wednesday. The stock has a market capitalization of $55.44 billion, a P/E ratio of 17.23, a PEG ratio of 4.40 and a beta of 1.33. The business has a 50 day simple moving average of $130.52 and a two-hundred day simple moving average of $135.09. Phillips 66 has a 12 month low of $117.32 and a 12 month 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 Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.41. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The company had revenue of $36.16 billion for the quarter, compared to analyst estimates of $36.31 billion. During the same quarter last year, the firm posted $4.63 EPS. The firm’s revenue for the quarter was down 10.3% on a year-over-year basis. As a group, analysts predict that Phillips 66 will post 7.57 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be issued a $1.15 dividend. The ex-dividend date is Monday, November 18th. This represents a $4.60 annualized dividend and a dividend yield of 3.43%. Phillips 66’s dividend payout ratio is currently 59.05%.

Institutional Trading of Phillips 66

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Synovus Financial Corp grew its stake in shares of Phillips 66 by 25.4% in the third quarter. Synovus Financial Corp now owns 26,554 shares of the oil and gas company’s stock valued at $3,490,000 after buying an additional 5,376 shares in the last quarter. Tidal Investments LLC grew its position in Phillips 66 by 11.8% in the 3rd quarter. Tidal Investments LLC now owns 21,523 shares of the oil and gas company’s stock valued at $2,829,000 after acquiring an additional 2,274 shares in the last quarter. Arvest Bank Trust Division purchased a new stake in Phillips 66 during the third quarter worth about $1,008,000. World Investment Advisors LLC purchased a new stake in Phillips 66 during the third quarter worth about $796,000. Finally, Advisory Resource Group lifted its position in shares of Phillips 66 by 4.3% during the third quarter. Advisory Resource Group now owns 241,527 shares of the oil and gas company’s stock worth $31,749,000 after purchasing an additional 9,930 shares in the last quarter. Hedge funds and other institutional investors 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.