Phillips 66 (NYSE:PSX) Receives $154.21 Consensus Price Target from Analysts

Phillips 66 (NYSE:PSX) has received a consensus recommendation of “Moderate Buy” from the fifteen research firms that are covering the firm, Marketbeat Ratings reports. Five analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $152.71.

Several equities analysts have recently weighed in on the company. Scotiabank cut their price objective on Phillips 66 from $156.00 to $145.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. TD Cowen reduced their price target on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Piper Sandler dropped their price objective on shares of Phillips 66 from $151.00 to $136.00 and set an “overweight” rating on the stock in a report on Friday, September 20th. Wolfe Research initiated coverage on shares of Phillips 66 in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Finally, Barclays lifted their price target on Phillips 66 from $136.00 to $138.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th.

Insider Activity at Phillips 66

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $139.01, for a total value of $4,170,300.00. Following the sale, the chief financial officer now owns 81,937 shares in the company, valued at $11,390,062.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.22% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Phillips 66

Institutional investors have recently made changes to their positions in the company. Manning & Napier Advisors LLC acquired a new stake in Phillips 66 in the 2nd quarter worth about $17,670,000. M&G Plc acquired a new stake in shares of Phillips 66 in the second quarter valued at approximately $3,596,000. Duality Advisers LP bought a new stake in shares of Phillips 66 in the first quarter valued at approximately $3,596,000. Mirae Asset Global Investments Co. Ltd. grew its position in Phillips 66 by 42.3% during 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 in the last quarter. Finally, Teachers Retirement System of The State of Kentucky increased its stake in Phillips 66 by 14.3% during the 4th 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 during the period. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Up 3.3 %

Shares of NYSE PSX opened at $138.93 on Tuesday. The firm has a 50 day moving average price of $133.90 and a 200 day moving average price of $142.51. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.79 and a current ratio of 1.14. The stock has a market cap of $58.90 billion, a P/E ratio of 10.69, a P/E/G ratio of 5.28 and a beta of 1.33. Phillips 66 has a 52-week low of $107.85 and a 52-week high of $174.08.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $0.33. The business had revenue of $38.91 billion during the quarter, compared to analysts’ expectations of $37.79 billion. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The firm’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.87 EPS. Analysts expect that Phillips 66 will post 8.27 EPS for the current year.

Phillips 66 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th were paid a dividend of $1.15 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $4.60 annualized dividend and a dividend yield of 3.31%. Phillips 66’s dividend payout ratio is presently 35.38%.

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.