Brokerages Set Phillips 66 (NYSE:PSX) Target Price at $149.69

Shares of Phillips 66 (NYSE:PSX) have been assigned an average rating of “Moderate Buy” from the fifteen analysts that are currently covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $149.69.

A number of equities analysts recently commented on PSX shares. Morgan Stanley cut their price objective on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. Raymond James increased their price objective on shares of Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Mizuho dropped their target price on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Wells Fargo & Company decreased their price target on Phillips 66 from $182.00 to $167.00 and set an “overweight” rating for the company in a report on Wednesday, October 9th. Finally, UBS Group dropped their price objective on Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, November 4th.

Phillips 66 Trading Up 1.4 %

Shares of Phillips 66 stock opened at $133.27 on Wednesday. The firm has a market capitalization of $55.04 billion, a PE ratio of 17.11, a price-to-earnings-growth ratio of 4.34 and a beta of 1.33. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The firm’s 50 day moving average is $130.28 and its 200 day moving average is $135.27. Phillips 66 has a 1 year low of $117.32 and a 1 year high of $174.08.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.41. The company had revenue of $36.16 billion during the quarter, compared to analysts’ expectations of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. Phillips 66’s revenue was down 10.3% compared to the same quarter last year. During the same period in the prior year, the company earned $4.63 EPS. Equities research analysts forecast that Phillips 66 will post 7.57 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be paid a $1.15 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.60 annualized dividend and a yield of 3.45%. Phillips 66’s dividend payout ratio is currently 59.05%.

Institutional Investors Weigh In On Phillips 66

Several hedge funds and other institutional investors have recently modified their holdings of PSX. Crewe Advisors LLC purchased a new stake in Phillips 66 in the 1st quarter worth approximately $25,000. nVerses Capital LLC bought a new stake in Phillips 66 during the third quarter valued at $26,000. Bank & Trust Co purchased a new position in Phillips 66 during the second quarter worth about $31,000. Values First Advisors Inc. bought a new stake in shares of Phillips 66 during the 3rd quarter valued at about $30,000. Finally, Opal Wealth Advisors LLC purchased a new position in shares of Phillips 66 during the second quarter worth about $34,000. 76.93% of the stock is currently owned by institutional investors.

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.