Recent Investment Analysts’ Ratings Updates for Phillips 66 (PSX)

A number of firms have modified their ratings and price targets on shares of Phillips 66 (NYSE: PSX) recently:

• 10/17/2024 – Phillips 66 was given a new $144.00 price target on by analysts at Piper Sandler.
• 10/17/2024 – Phillips 66 is now covered by analysts at Bank of America Co.. They set a “buy” rating and a $156.00 price target on the stock.
• 10/10/2024 – Phillips 66 had its price target lowered by analysts at Scotiabank from $145.00 to $136.00. They now have a “sector outperform” rating on the stock.
• 10/9/2024 – Phillips 66 had its price target lowered by analysts at Wells Fargo & Company from $182.00 to $167.00. They now have an “overweight” rating on the stock.
• 10/8/2024 – Phillips 66 had its price target raised by analysts at Piper Sandler from $136.00 to $144.00. They now have an “overweight” rating on the stock.
• 10/8/2024 – Phillips 66 had its price target lowered by analysts at Barclays PLC from $138.00 to $133.00. They now have an “equal weight” rating on the stock.
• 10/2/2024 – Phillips 66 had its price target lowered by analysts at JPMorgan Chase & Co. from $160.00 to $141.00. They now have an “overweight” rating on the stock.
• 9/20/2024 – Phillips 66 had its price target lowered by analysts at Piper Sandler from $151.00 to $136.00. They now have an “overweight” rating on the stock.
• 9/16/2024 – Phillips 66 had its price target lowered by analysts at Mizuho from $154.00 to $150.00. They now have a “neutral” rating on the stock.
• 9/16/2024 – Phillips 66 had its price target lowered by analysts at Morgan Stanley from $150.00 to $144.00. They now have an “equal weight” rating on the stock.
• 9/11/2024 – Phillips 66 had its price target lowered by analysts at TD Cowen from $162.00 to $150.00. They now have a “buy” rating on the stock.
• 9/3/2024 – Phillips 66 had its price target raised by analysts at Wells Fargo & Company from $176.00 to $182.00. They now have an “overweight” rating on the stock.

Phillips 66 Price Performance

PSX traded down $1.35 on Thursday, reaching $127.77. 807,230 shares of the company’s stock were exchanged, compared to its average volume of 2,663,620. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 0.79. The stock’s fifty day moving average price is $132.85 and its 200-day moving average price is $139.57. The stock has a market cap of $54.17 billion, a PE ratio of 9.83, a P/E/G ratio of 5.68 and a beta of 1.33. Phillips 66 has a twelve month low of $107.85 and a twelve month high of $174.08.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 EPS for the quarter, topping the consensus estimate of $1.98 by $0.33. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The business had revenue of $38.91 billion for the quarter, compared to analyst estimates of $37.79 billion. During the same quarter in the previous year, the firm earned $3.87 EPS. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. Sell-side analysts expect that Phillips 66 will post 7.81 EPS for the current year.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be issued a $1.15 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.60 annualized dividend and a yield of 3.60%. Phillips 66’s payout ratio is 35.38%.

Insider Activity

In other news, CFO Kevin J. Mitchell sold 30,000 shares of Phillips 66 stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the sale, the chief financial officer now owns 81,937 shares of the company’s stock, valued at approximately $11,390,062.37. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.22% of the company’s stock.

Institutional Investors Weigh In On Phillips 66

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Manning & Napier Advisors LLC acquired a new stake in shares of Phillips 66 during the 2nd quarter worth about $17,670,000. M&G Plc purchased a new stake in shares of Phillips 66 in the 2nd quarter valued at approximately $3,596,000. Duality Advisers LP acquired a new position in shares of Phillips 66 in the 1st quarter worth approximately $3,596,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Phillips 66 by 42.3% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 133,736 shares of the oil and gas company’s stock worth $21,844,000 after purchasing an additional 39,775 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S increased its holdings in Phillips 66 by 69.8% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 37,802 shares of the oil and gas company’s stock valued at $6,175,000 after purchasing an additional 15,542 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

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.