Phillips 66 (NYSE:PSX) Receives $187.11 Average PT from Brokerages

Shares of Phillips 66 (NYSE:PSX) have been given a consensus recommendation of “Moderate Buy” by the twenty-four research firms that are currently covering the firm, Marketbeat.com reports. Nine analysts have rated the stock with a hold recommendation, thirteen have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $191.2778.

Several research analysts recently issued reports on the company. Weiss Ratings cut Phillips 66 from a “buy (b-)” rating to a “hold (c)” rating in a research report on Friday, May 1st. UBS Group lifted their target price on Phillips 66 from $172.00 to $212.00 and gave the company a “buy” rating in a research report on Thursday, April 2nd. JPMorgan Chase & Co. lifted their target price on Phillips 66 from $188.00 to $202.00 in a research report on Thursday, April 30th. BMO Capital Markets lifted their target price on Phillips 66 from $195.00 to $215.00 and gave the company an “outperform” rating in a research report on Wednesday, May 13th. Finally, Zacks Research raised Phillips 66 from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 27th.

Insider Buying and Selling

In related news, Director Kevin Omar Meyers bought 175 shares of the business’s stock in a transaction that occurred on Wednesday, May 6th. The shares were bought at an average price of $173.12 per share, with a total value of $30,296.00. Following the completion of the transaction, the director directly owned 16,799 shares in the company, valued at approximately $2,908,242.88. This represents a 1.05% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Kevin J. Mitchell sold 29,400 shares of Phillips 66 stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $170.00, for a total value of $4,998,000.00. Following the transaction, the chief financial officer directly owned 97,376 shares in the company, valued at approximately $16,553,920. The trade was a 23.19% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 114,029 shares of company stock worth $19,641,455 in the last ninety days. Corporate insiders own 0.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Cozad Asset Management Inc. boosted its position in Phillips 66 by 92.9% in the first quarter. Cozad Asset Management Inc. now owns 7,143 shares of the oil and gas company’s stock worth $1,301,000 after purchasing an additional 3,440 shares during the last quarter. Carlson Capital L.P. boosted its position in Phillips 66 by 256.3% in the first quarter. Carlson Capital L.P. now owns 11,757 shares of the oil and gas company’s stock worth $2,142,000 after purchasing an additional 8,457 shares during the last quarter. Allen Capital Group LLC boosted its position in Phillips 66 by 4.6% in the first quarter. Allen Capital Group LLC now owns 6,501 shares of the oil and gas company’s stock worth $1,184,000 after purchasing an additional 288 shares during the last quarter. Axiom Investment Management LLC purchased a new position in Phillips 66 in the first quarter worth $27,000. Finally, Summitry LLC purchased a new position in Phillips 66 in the first quarter worth $313,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Trading Up 1.3%

Shares of Phillips 66 stock opened at $176.88 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 1.13. Phillips 66 has a 52 week low of $111.19 and a 52 week high of $190.61. The stock has a 50 day moving average price of $172.32 and a two-hundred day moving average price of $154.51. The stock has a market capitalization of $70.92 billion, a PE ratio of 17.43, a price-to-earnings-growth ratio of 0.26 and a beta of 0.70.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of ($0.54) by $1.03. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The firm had revenue of $32.54 billion during the quarter, compared to analysts’ expectations of $35.86 billion. During the same quarter last year, the firm posted ($0.90) earnings per share. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, equities analysts anticipate that Phillips 66 will post 17.64 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, June 1st. Investors of record on Monday, May 18th will be given a dividend of $1.27 per share. The ex-dividend date of this dividend is Monday, May 18th. This represents a $5.08 annualized dividend and a dividend yield of 2.9%. Phillips 66’s payout ratio is presently 50.05%.

About Phillips 66

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.