Phillips 66 (NYSE:PSX) Given New $144.00 Price Target at Piper Sandler

Phillips 66 (NYSE:PSX) had its price objective hoisted by Piper Sandler from $136.00 to $144.00 in a research report report published on Tuesday morning, Benzinga reports. They currently have an overweight rating on the oil and gas company’s stock.

Other research analysts have also recently issued reports about the stock. Raymond James boosted their price objective on shares of Phillips 66 from $150.00 to $155.00 and gave the company an outperform rating in a report on Wednesday, July 31st. Mizuho dropped their price target on Phillips 66 from $154.00 to $150.00 and set a neutral rating on the stock in a research note on Monday, September 16th. JPMorgan Chase & Co. cut their price objective on Phillips 66 from $160.00 to $141.00 and set an overweight rating for the company in a report on Wednesday, October 2nd. Wells Fargo & Company increased their target price on Phillips 66 from $176.00 to $182.00 and gave the company an overweight rating in a report on Tuesday, September 3rd. Finally, TD Cowen cut their price target on Phillips 66 from $162.00 to $150.00 and set a buy rating for the company in a research note on Wednesday, September 11th. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $151.21.

Phillips 66 Price Performance

PSX opened at $136.35 on Tuesday. The firm has a market cap of $57.81 billion, a PE ratio of 10.49, a P/E/G ratio of 5.48 and a beta of 1.33. The stock has a 50-day moving average price of $133.19 and a 200-day moving average price of $141.75. Phillips 66 has a 1 year low of $107.85 and a 1 year high of $174.08. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 0.79.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.33. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The company had revenue of $38.91 billion during the quarter, compared to analyst estimates of $37.79 billion. During the same period in the previous year, the business earned $3.87 EPS. The firm’s revenue for the quarter was up 8.9% on a year-over-year basis. Sell-side analysts predict that Phillips 66 will post 8.19 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 3.37%. Phillips 66’s payout ratio is 35.38%.

Insider Activity at Phillips 66

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $139.01, for a total value of $4,170,300.00. Following the completion of the transaction, the chief financial officer now owns 81,937 shares of the company’s stock, valued at $11,390,062.37. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.22% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Empirical Asset Management LLC lifted its holdings in shares of Phillips 66 by 3.3% in the third quarter. Empirical Asset Management LLC now owns 23,802 shares of the oil and gas company’s stock worth $3,129,000 after buying an additional 757 shares in the last quarter. Stablepoint Partners LLC increased its holdings in Phillips 66 by 1.1% in the 3rd quarter. Stablepoint Partners LLC now owns 43,019 shares of the oil and gas company’s stock valued at $5,655,000 after acquiring an additional 470 shares during the last quarter. ORG Wealth Partners LLC purchased a new stake in Phillips 66 in the 3rd quarter worth $75,000. Procyon Advisors LLC boosted its holdings in shares of Phillips 66 by 2.6% during the 3rd quarter. Procyon Advisors LLC now owns 16,638 shares of the oil and gas company’s stock valued at $2,187,000 after purchasing an additional 425 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. grew its position in shares of Phillips 66 by 13.5% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 17,789 shares of the oil and gas company’s stock valued at $2,338,000 after purchasing an additional 2,122 shares in the last quarter. 76.93% of the stock is 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.