Phillips 66 (NYSE:PSX) PT Raised to $138.00

Phillips 66 (NYSE:PSX) had its price objective raised by Barclays from $136.00 to $138.00 in a research report sent to investors on Monday morning, Benzinga reports. Barclays currently has an equal weight rating on the oil and gas company’s stock.

A number of other equities research analysts have also weighed in on PSX. Scotiabank lowered their price objective on Phillips 66 from $156.00 to $145.00 and set a sector outperform rating for the company in a research note on Friday, July 12th. TD Cowen lifted their price target on shares of Phillips 66 from $155.00 to $162.00 and gave the stock a buy rating in a research note on Wednesday, July 31st. Wells Fargo & Company reduced their price objective on shares of Phillips 66 from $180.00 to $176.00 and set an overweight rating on the stock in a research note on Wednesday, July 31st. Wolfe Research began coverage on shares of Phillips 66 in a research report on Thursday, July 18th. They issued a peer perform rating for the company. Finally, Piper Sandler reduced their price target on shares of Phillips 66 from $170.00 to $151.00 and set an overweight rating on the stock in a research report on Friday, June 14th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Phillips 66 currently has an average rating of Moderate Buy and an average price target of $157.38.

Phillips 66 Trading Up 1.9 %

NYSE PSX opened at $135.42 on Monday. The stock has a market cap of $56.68 billion, a P/E ratio of 10.42, a PEG ratio of 2.37 and a beta of 1.34. The company’s fifty day simple moving average is $138.39 and its 200-day simple moving average is $145.86. The company has a current ratio of 1.14, a quick ratio of 0.82 and a debt-to-equity ratio of 0.56. Phillips 66 has a 52 week low of $107.85 and a 52 week high of $174.08.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.33. The firm had revenue of $38.91 billion for the quarter, compared to analyst estimates of $37.79 billion. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The firm’s revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.87 EPS. Equities research analysts predict that Phillips 66 will post 9.5 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th will be given a dividend of $1.15 per share. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $4.60 annualized dividend and a dividend yield of 3.40%. Phillips 66’s dividend payout ratio is presently 35.38%.

Insider Activity

In related news, EVP Timothy D. Roberts sold 37,742 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were 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 owns 48,365 shares in the company, valued at $7,051,617. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.22% of the company’s stock.

Hedge Funds Weigh In On Phillips 66

Several large investors have recently made changes to their positions in PSX. Duality Advisers LP acquired a new stake in shares of Phillips 66 during the first quarter worth $3,596,000. Daiwa Securities Group Inc. lifted its stake in Phillips 66 by 27.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 48,601 shares of the oil and gas company’s stock valued at $6,470,000 after buying an additional 10,536 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Phillips 66 by 42.3% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 133,736 shares of the oil and gas company’s stock worth $21,844,000 after buying an additional 39,775 shares during the period. Teachers Retirement System of The State of Kentucky increased its position in shares of Phillips 66 by 14.3% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 289,395 shares of the oil and gas company’s stock worth $38,530,000 after acquiring an additional 36,116 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S raised its holdings in shares of Phillips 66 by 69.8% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 37,802 shares of the oil and gas company’s stock valued at $6,175,000 after acquiring an additional 15,542 shares during the period. Institutional investors own 76.93% of the company’s stock.

About Phillips 66

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.