Analysts Set Phillips 66 (NYSE:PSX) PT at $157.79

Phillips 66 (NYSE:PSX) has been given an average recommendation of “Moderate Buy” by the fifteen analysts that are presently covering the company, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $157.79.

A number of brokerages recently issued reports on PSX. TD Cowen reduced their price target on Phillips 66 from $164.00 to $155.00 and set a “buy” rating on the stock in a research report on Friday, June 21st. Argus reaffirmed a “buy” rating and issued a $167.00 price target on shares of Phillips 66 in a research note on Thursday, May 30th. Piper Sandler reduced their price objective on shares of Phillips 66 from $170.00 to $151.00 and set an “overweight” rating on the stock in a research note on Friday, June 14th. Raymond James cut their price target on shares of Phillips 66 from $163.00 to $160.00 and set an “outperform” rating for the company in a report on Thursday, May 30th. Finally, Mizuho lowered their price objective on shares of Phillips 66 from $162.00 to $160.00 and set a “neutral” rating for the company in a research report on Thursday, June 20th.

Insider Buying and Selling

In other Phillips 66 news, EVP Timothy D. Roberts sold 37,742 shares of the company’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $145.80, for a total value of $5,502,783.60. Following the sale, the executive vice president now owns 48,365 shares in the company, valued at approximately $7,051,617. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.22% of the stock is owned by corporate insiders.

Institutional Trading of Phillips 66

Several institutional investors have recently added to or reduced their stakes in the stock. DekaBank Deutsche Girozentrale lifted its holdings in Phillips 66 by 12.4% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 201,592 shares of the oil and gas company’s stock valued at $26,501,000 after buying an additional 22,278 shares during the period. Eldred Rock Partners LLC bought a new stake in shares of Phillips 66 during the 4th quarter valued at about $10,402,000. First Dallas Securities Inc. bought a new stake in shares of Phillips 66 during the 3rd quarter valued at about $753,000. TIAA Trust National Association grew its stake in Phillips 66 by 32.9% during the fourth quarter. TIAA Trust National Association now owns 14,816 shares of the oil and gas company’s stock worth $1,973,000 after purchasing an additional 3,670 shares during the period. Finally, Daiwa Securities Group Inc. lifted its stake in Phillips 66 by 27.7% in the fourth quarter. Daiwa Securities Group Inc. now owns 48,601 shares of the oil and gas company’s stock valued at $6,470,000 after buying an additional 10,536 shares during the period. 76.93% of the stock is currently owned by institutional investors.

Phillips 66 Stock Performance

Shares of NYSE PSX opened at $139.40 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.17 and a quick ratio of 0.82. The firm has a market cap of $59.10 billion, a price-to-earnings ratio of 10.71, a P/E/G ratio of 2.08 and a beta of 1.37. The stock’s fifty day moving average price is $143.46 and its two-hundred day moving average price is $144.50. Phillips 66 has a one year low of $91.78 and a one year high of $174.08.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.90 earnings per share for the quarter, missing the consensus estimate of $2.05 by ($0.15). Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. The business had revenue of $36.44 billion during the quarter, compared to analyst estimates of $35.87 billion. During the same quarter last year, the firm earned $4.21 EPS. On average, equities analysts forecast that Phillips 66 will post 11.22 EPS for the current year.

Phillips 66 Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Monday, May 20th were issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date was Friday, May 17th. This is a positive change from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s payout ratio is 35.38%.

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.