Phillips 66 (NYSE:PSX) Given New $135.00 Price Target at Barclays

Phillips 66 (NYSE:PSX) had its price objective hoisted by Barclays from $115.00 to $135.00 in a report published on Friday morning,Benzinga reports. The firm currently has an equal weight rating on the oil and gas company’s stock.

Other equities research analysts have also recently issued research reports about the company. Wells Fargo & Company raised their price objective on Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Piper Sandler cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Mizuho decreased their price objective on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Wolfe Research upgraded Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective on the stock in a report on Friday, January 3rd. Finally, StockNews.com cut Phillips 66 from a “hold” rating to a “sell” rating in a report on Sunday, March 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $149.43.

Phillips 66 Stock Performance

PSX opened at $126.84 on Friday. The stock has a market cap of $51.71 billion, a P/E ratio of 25.68, a P/E/G ratio of 4.84 and a beta of 1.31. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The stock’s 50 day simple moving average is $122.82 and its 200 day simple moving average is $126.03. Phillips 66 has a 1-year low of $108.91 and a 1-year high of $174.08.

Phillips 66 (NYSE:PSX) last announced its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($1.38). Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same period last year, the firm posted $3.09 EPS. As a group, equities analysts anticipate that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were given a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 3.63%. The ex-dividend date was Monday, February 24th. Phillips 66’s dividend payout ratio (DPR) is presently 93.12%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Bogart Wealth LLC raised its position in Phillips 66 by 120.0% in the fourth quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 120 shares during the period. J.Safra Asset Management Corp purchased a new position in Phillips 66 in the fourth quarter valued at about $25,000. Pacific Center for Financial Services purchased a new position in Phillips 66 in the fourth quarter valued at about $27,000. Stephens Consulting LLC raised its position in Phillips 66 by 83.5% in the fourth quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 111 shares during the period. Finally, Graney & King LLC purchased a new position in Phillips 66 in the fourth quarter valued at about $28,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

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.