Phillips 66 (NYSE:PSX) Receives $149.50 Consensus Target Price from Brokerages

Shares of Phillips 66 (NYSE:PSX) have been given a consensus rating of “Moderate Buy” by the fourteen brokerages that are covering the firm, MarketBeat reports. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $151.42.

Several equities analysts recently commented on the company. JPMorgan Chase & Co. dropped their price objective on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 2nd. Piper Sandler set a $144.00 price target on Phillips 66 in a research note on Thursday, October 17th. Barclays lowered their price objective on Phillips 66 from $138.00 to $133.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 8th. Scotiabank dropped their price objective on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Finally, TD Cowen reduced their target price on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th.

Phillips 66 Trading Down 1.5 %

NYSE PSX opened at $120.01 on Friday. The business’s fifty day moving average is $131.27 and its 200-day moving average is $137.81. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.79. The stock has a market capitalization of $49.56 billion, a price-to-earnings ratio of 15.41, a PEG ratio of 3.94 and a beta of 1.33. Phillips 66 has a one year low of $110.54 and a one year high of $174.08.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, topping the consensus estimate of $1.63 by $0.41. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The business had revenue of $36.16 billion for the quarter, compared to analyst estimates of $36.31 billion. During the same quarter in the previous year, the firm posted $4.63 earnings per share. The company’s revenue for the quarter was down 10.3% on a year-over-year basis. Equities research analysts predict that Phillips 66 will post 7.75 EPS for the current year.

Phillips 66 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders 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 3.83%. Phillips 66’s payout ratio is currently 59.05%.

Insider Activity at Phillips 66

In other news, CFO Kevin J. Mitchell sold 30,000 shares of Phillips 66 stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the completion of the sale, the chief financial officer now directly owns 81,937 shares of the company’s stock, valued at approximately $11,390,062.37. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.22% of the stock is currently owned by insiders.

Institutional Trading of Phillips 66

Hedge funds have recently bought and sold shares of the company. Boston Partners lifted its holdings in shares of Phillips 66 by 41.4% in the 1st quarter. Boston Partners now owns 5,453,892 shares of the oil and gas company’s stock worth $889,214,000 after acquiring an additional 1,595,722 shares during the last quarter. Vanguard Group Inc. boosted its position in Phillips 66 by 4.0% during the first quarter. Vanguard Group Inc. now owns 41,271,077 shares of the oil and gas company’s stock valued at $6,741,218,000 after buying an additional 1,578,669 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Phillips 66 by 96.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,863,603 shares of the oil and gas company’s stock valued at $467,743,000 after buying an additional 1,408,954 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Phillips 66 by 5.0% in the second quarter. Bank of New York Mellon Corp now owns 8,422,720 shares of the oil and gas company’s stock worth $1,189,035,000 after buying an additional 402,925 shares during the period. Finally, Jacobs Levy Equity Management Inc. lifted its stake in shares of Phillips 66 by 1,087.3% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 432,003 shares of the oil and gas company’s stock valued at $70,563,000 after acquiring an additional 395,617 shares during the last quarter. 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.