Phillips 66 (NYSE:PSX) Price Target Raised to $182.00 at Wells Fargo & Company

Phillips 66 (NYSE:PSX) had its price target lifted by Wells Fargo & Company from $176.00 to $182.00 in a research note issued to investors on Tuesday, Benzinga reports. They currently have an overweight rating on the oil and gas company’s stock.

A number of other research analysts have also recently commented on the company. Scotiabank dropped their price target 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. Barclays boosted their price target on Phillips 66 from $136.00 to $138.00 and gave the stock an equal weight rating in a report on Monday, August 5th. TD Cowen raised their price objective on shares of Phillips 66 from $155.00 to $162.00 and gave the company a buy rating in a report on Wednesday, July 31st. Mizuho reduced their target price on shares of Phillips 66 from $162.00 to $160.00 and set a neutral rating on the stock in a report on Thursday, June 20th. Finally, 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. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $157.85.

Phillips 66 Stock Down 3.8 %

Shares of PSX opened at $135.02 on Tuesday. The company has a current ratio of 1.14, a quick ratio of 0.79 and a debt-to-equity ratio of 0.56. Phillips 66 has a 12 month low of $107.85 and a 12 month high of $174.08. The firm’s 50 day moving average is $137.78 and its 200-day moving average is $145.14. The stock has a market capitalization of $57.24 billion, a PE ratio of 10.39, a P/E/G ratio of 2.53 and a beta of 1.34.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results 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. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The business had revenue of $38.91 billion during the quarter, compared to the consensus estimate of $37.79 billion. During the same quarter in the previous year, the firm earned $3.87 earnings per share. Phillips 66’s revenue for the quarter was up 8.9% compared to the same quarter last year. Equities research analysts forecast that Phillips 66 will post 9.25 EPS for the current year.

Phillips 66 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th were given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date of this dividend was Tuesday, August 20th. Phillips 66’s payout ratio is 35.38%.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of Phillips 66 stock in a transaction dated Thursday, August 15th. The shares were 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 of the company’s stock, valued at $11,390,062.37. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.22% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Crewe Advisors LLC purchased a new stake in Phillips 66 during the first quarter valued at about $25,000. Keener Financial Planning LLC bought a new stake in shares of Phillips 66 in the first quarter valued at approximately $26,000. Strategic Financial Concepts LLC purchased a new stake in shares of Phillips 66 during the 2nd quarter valued at approximately $26,000. Ables Iannone Moore & Associates Inc. bought a new position in Phillips 66 in the 4th quarter worth approximately $27,000. Finally, Redmont Wealth Advisors LLC purchased a new position in Phillips 66 in the 1st quarter valued at approximately $28,000. 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.