Phillips 66 (NYSE:PSX) Trading 4.7% Higher

Phillips 66 (NYSE:PSX)’s stock price traded up 4.7% during mid-day trading on Tuesday . The stock traded as high as $148.20 and last traded at $147.07. 488,509 shares traded hands during trading, a decline of 82% from the average session volume of 2,651,657 shares. The stock had previously closed at $140.41.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. TD Cowen cut their price target on Phillips 66 from $164.00 to $155.00 and set a “buy” rating for the company in a report on Friday, June 21st. Argus reissued a “buy” rating and set a $167.00 price target on shares of Phillips 66 in a report on Thursday, May 30th. Wolfe Research assumed coverage on Phillips 66 in a report on Thursday, July 18th. They set a “peer perform” rating for the company. Wells Fargo & Company boosted their price target on Phillips 66 from $179.00 to $191.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Finally, Barclays cut their price target on Phillips 66 from $142.00 to $136.00 and set an “equal weight” rating for the company in a report on Tuesday, July 9th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $158.23.

Phillips 66 Stock Performance

The business has a 50 day moving average of $139.06 and a 200 day moving average of $145.66. The company has a market capitalization of $62.60 billion, a P/E ratio of 11.39, a price-to-earnings-growth ratio of 2.36 and a beta of 1.34. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.58.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Friday, April 26th. The oil and gas company reported $1.90 EPS for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. The firm had revenue of $36.44 billion for the quarter, compared to the consensus estimate of $35.87 billion. During the same period in the previous year, the company posted $4.21 earnings per share. On average, sell-side analysts predict that Phillips 66 will post 10.06 earnings per share for the current year.

Phillips 66 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th will be paid a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date of this dividend is Tuesday, August 20th. Phillips 66’s payout ratio is presently 35.38%.

Insider Activity at Phillips 66

In related news, EVP Timothy D. Roberts sold 37,742 shares of the stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $145.80, for a total transaction of $5,502,783.60. Following the completion of the transaction, the executive vice president now directly owns 48,365 shares of the company’s stock, valued at $7,051,617. The sale was disclosed in a filing with the SEC, which is available through this link. 0.22% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Phillips 66

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Crewe Advisors LLC purchased a new stake in Phillips 66 during the first quarter valued at approximately $25,000. Keener Financial Planning LLC purchased a new stake in shares of Phillips 66 in the first quarter worth approximately $26,000. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of Phillips 66 in the fourth quarter worth approximately $27,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Phillips 66 in the first quarter worth approximately $28,000. Finally, First United Bank & Trust purchased a new stake in shares of Phillips 66 in the fourth quarter worth approximately $31,000. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Phillips 66 Company Profile

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.