Analysts Set Phillips 66 (NYSE:PSX) Target Price at $157.31

Shares of Phillips 66 (NYSE:PSX) have been assigned a consensus rating of “Moderate Buy” from the fifteen brokerages that are currently covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $156.86.

A number of equities analysts have recently weighed in on PSX shares. StockNews.com upgraded Phillips 66 from a “hold” rating to a “buy” rating in a research note on Saturday, February 10th. Raymond James upped their price objective on Phillips 66 from $140.00 to $155.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. The Goldman Sachs Group upped their price objective on Phillips 66 from $152.00 to $174.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Bank of America upped their price objective on Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a research note on Friday, March 15th. Finally, Scotiabank upped their price objective on Phillips 66 from $148.00 to $156.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 11th.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $160.82 on Tuesday. Phillips 66 has a twelve month low of $89.74 and a twelve month high of $174.08. The stock’s 50 day moving average price is $153.64 and its 200-day moving average price is $134.51. The company has a market capitalization of $68.80 billion, a PE ratio of 10.40, a PEG ratio of 2.05 and a beta of 1.37. The company has a quick ratio of 1.02, a current ratio of 1.26 and a debt-to-equity ratio of 0.56.

Phillips 66 (NYSE:PSX) last announced its earnings results on Wednesday, January 31st. The oil and gas company reported $3.09 earnings per share for the quarter, topping analysts’ consensus estimates of $2.37 by $0.72. Phillips 66 had a return on equity of 22.10% and a net margin of 4.68%. The firm had revenue of $38.74 billion for the quarter, compared to the consensus estimate of $34.30 billion. On average, equities analysts anticipate that Phillips 66 will post 13.2 EPS for the current year.

Phillips 66 Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be issued a $1.15 dividend. The ex-dividend date is Friday, May 17th. This represents a $4.60 annualized dividend and a dividend yield of 2.86%. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s dividend payout ratio is presently 27.15%.

Insider Transactions at Phillips 66

In other news, VP Joseph Scott Pruitt sold 7,200 shares of the company’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $157.26, for a total value of $1,132,272.00. Following the transaction, the vice president now owns 6,583 shares of the company’s stock, valued at $1,035,242.58. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, VP Joseph Scott Pruitt sold 7,200 shares of the company’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $157.26, for a total value of $1,132,272.00. Following the transaction, the vice president now owns 6,583 shares of the company’s stock, valued at $1,035,242.58. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Robert W. Pease purchased 682 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was purchased at an average cost of $146.58 per share, for a total transaction of $99,967.56. Following the acquisition, the director now owns 1,900 shares of the company’s stock, valued at approximately $278,502. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 35,056 shares of company stock valued at $5,272,681. 0.22% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in PSX. Bornite Capital Management LP purchased a new stake in Phillips 66 during the first quarter valued at about $8,639,000. Healthcare of Ontario Pension Plan Trust Fund boosted its position in Phillips 66 by 316.2% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 6,597 shares of the oil and gas company’s stock valued at $570,000 after buying an additional 5,012 shares during the period. Synovus Financial Corp boosted its position in Phillips 66 by 5.1% during the first quarter. Synovus Financial Corp now owns 16,257 shares of the oil and gas company’s stock valued at $1,405,000 after buying an additional 788 shares during the period. Cibc World Market Inc. boosted its holdings in shares of Phillips 66 by 61.9% during the first quarter. Cibc World Market Inc. now owns 7,236 shares of the oil and gas company’s stock worth $625,000 after purchasing an additional 2,766 shares during the period. Finally, Blair William & Co. IL boosted its holdings in shares of Phillips 66 by 103.8% during the first quarter. Blair William & Co. IL now owns 53,538 shares of the oil and gas company’s stock worth $4,625,000 after purchasing an additional 27,267 shares during the period. 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.