Analysts Set Phillips 66 (NYSE:PSX) PT at $157.43

Phillips 66 (NYSE:PSX) has earned an average recommendation of “Moderate Buy” from the fifteen brokerages that are covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $157.43.

A number of analysts have weighed in on the company. StockNews.com downgraded Phillips 66 from a “buy” rating to a “hold” rating in a research note on Monday. The Goldman Sachs Group upped their target price on Phillips 66 from $152.00 to $174.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Scotiabank lifted their price target on shares of Phillips 66 from $148.00 to $156.00 and gave the company a “sector outperform” rating in a research report on Thursday, April 11th. Piper Sandler upped their price objective on shares of Phillips 66 from $169.00 to $187.00 and gave the stock an “overweight” rating in a report on Friday, April 5th. Finally, Wells Fargo & Company lifted their target price on shares of Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a report on Monday, April 8th.

Phillips 66 Price Performance

Shares of PSX opened at $146.94 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.82 and a current ratio of 1.17. The firm has a market cap of $62.30 billion, a PE ratio of 11.30, a PEG ratio of 1.82 and a beta of 1.41. The firm’s 50 day moving average price is $155.48 and its 200 day moving average price is $138.78. Phillips 66 has a twelve month low of $89.74 and a twelve month high of $174.08.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). The business had revenue of $36.44 billion for the quarter, compared to the consensus estimate of $35.87 billion. Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. During the same quarter in the prior year, the business posted $4.21 EPS. As a group, research analysts expect that Phillips 66 will post 13.17 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 3.13%. The ex-dividend date is Friday, May 17th. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s payout ratio is 32.31%.

Insider Buying and Selling

In other news, Director Robert W. Pease bought 682 shares of the stock in a transaction on Thursday, February 15th. The stock was purchased at an average price of $146.58 per share, for a total transaction of $99,967.56. Following the acquisition, the director now owns 1,900 shares in the company, valued at $278,502. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Robert W. Pease purchased 682 shares of Phillips 66 stock in a transaction on Thursday, February 15th. The stock was purchased at an average price of $146.58 per share, with a total value of $99,967.56. Following the transaction, the director now directly owns 1,900 shares in the company, valued at approximately $278,502. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Joseph Scott Pruitt sold 5,922 shares of Phillips 66 stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $157.40, for a total transaction of $932,122.80. Following the completion of the sale, the vice president now owns 6,583 shares in the company, valued at $1,036,164.20. The disclosure for this sale can be found here. Insiders have sold a total of 35,056 shares of company stock worth $5,272,681 over the last ninety days. Company insiders own 0.22% of the company’s stock.

Hedge Funds Weigh In On Phillips 66

Several hedge funds have recently modified their holdings of PSX. Stratos Wealth Partners LTD. raised its stake in shares of Phillips 66 by 1.5% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 22,124 shares of the oil and gas company’s stock worth $2,658,000 after purchasing an additional 318 shares in the last quarter. NorthRock Partners LLC acquired a new stake in Phillips 66 in the third quarter valued at $278,000. Brown Advisory Inc. grew its position in shares of Phillips 66 by 5.5% in the 3rd quarter. Brown Advisory Inc. now owns 56,217 shares of the oil and gas company’s stock valued at $6,755,000 after acquiring an additional 2,939 shares during the period. Segment Wealth Management LLC increased its stake in shares of Phillips 66 by 16.7% during the 3rd quarter. Segment Wealth Management LLC now owns 4,513 shares of the oil and gas company’s stock worth $542,000 after purchasing an additional 645 shares during the last quarter. Finally, Miracle Mile Advisors LLC raised its holdings in shares of Phillips 66 by 1.3% in the 3rd quarter. Miracle Mile Advisors LLC now owns 22,603 shares of the oil and gas company’s stock valued at $2,716,000 after purchasing an additional 300 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.