Phillips 66 (NYSE:PSX) Receives $157.79 Consensus Price Target from Analysts

Shares of Phillips 66 (NYSE:PSX) have been given a consensus rating of “Moderate Buy” by the fifteen research firms that are currently covering the company, MarketBeat reports. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $157.79.

Several equities analysts recently weighed in on PSX shares. The Goldman Sachs Group lifted their price target on Phillips 66 from $152.00 to $174.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. TD Cowen cut their price target on Phillips 66 from $164.00 to $155.00 and set a “buy” rating for the company in a research note on Friday, June 21st. Bank of America lifted their price target on Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a research note on Friday, March 15th. Argus restated a “buy” rating and issued a $167.00 price target on shares of Phillips 66 in a research note on Thursday, May 30th. Finally, Wells Fargo & Company lifted their price target on Phillips 66 from $179.00 to $191.00 and gave the company an “overweight” rating in a research note on Monday, April 8th.

Phillips 66 Stock Performance

NYSE PSX opened at $141.17 on Friday. The stock has a 50-day simple moving average of $142.91 and a two-hundred day simple moving average of $144.70. The firm has a market capitalization of $59.85 billion, a P/E ratio of 10.86, a PEG ratio of 2.12 and a beta of 1.37. Phillips 66 has a fifty-two week low of $93.40 and a fifty-two week high of $174.08. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.82 and a current ratio of 1.17.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.90 earnings per share for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). The company had revenue of $36.44 billion for the quarter, compared to analysts’ expectations of $35.87 billion. Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. During the same quarter in the previous year, the business posted $4.21 EPS. On average, equities analysts forecast that Phillips 66 will post 11.08 earnings per share for the current year.

Phillips 66 Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Monday, May 20th were issued a dividend of $1.15 per share. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 annualized dividend and a dividend yield of 3.26%. The ex-dividend date of this dividend was Friday, May 17th. Phillips 66’s payout ratio is currently 35.38%.

Insider Transactions at Phillips 66

In other news, EVP Timothy D. Roberts sold 37,742 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $145.80, for a total transaction of $5,502,783.60. Following the transaction, the executive vice president now directly owns 48,365 shares in the company, valued at approximately $7,051,617. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.22% of the company’s stock.

Institutional Trading of Phillips 66

Several institutional investors have recently made changes to their positions in PSX. WINTON GROUP Ltd purchased a new stake in shares of Phillips 66 during the 3rd quarter valued at approximately $205,000. Fuller & Thaler Asset Management Inc. raised its position in shares of Phillips 66 by 6.7% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 1,601 shares of the oil and gas company’s stock valued at $192,000 after buying an additional 100 shares during the period. Stifel Financial Corp raised its position in shares of Phillips 66 by 2.2% during the 3rd quarter. Stifel Financial Corp now owns 451,483 shares of the oil and gas company’s stock valued at $54,248,000 after buying an additional 9,810 shares during the period. Federated Hermes Inc. raised its position in Phillips 66 by 14.8% in the third quarter. Federated Hermes Inc. now owns 74,805 shares of the oil and gas company’s stock valued at $8,988,000 after purchasing an additional 9,636 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. raised its position in Phillips 66 by 11.6% in the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 14,084 shares of the oil and gas company’s stock valued at $1,692,000 after purchasing an additional 1,460 shares during the period. 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.