Phillips 66 (NYSE:PSX) Receives $147.54 Consensus PT from Brokerages

Phillips 66 (NYSE:PSX) has earned an average recommendation of “Moderate Buy” from the fourteen research firms that are presently covering the firm, MarketBeat.com reports. Five research analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $146.43.

A number of research analysts recently weighed in on PSX shares. The Goldman Sachs Group lowered shares of Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 price objective for the company. in a research note on Thursday. Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target for the company in a report on Friday, January 3rd. Barclays boosted their price objective on Phillips 66 from $115.00 to $135.00 and gave the company an “equal weight” rating in a research note on Friday, March 14th. Piper Sandler cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Finally, StockNews.com lowered Phillips 66 from a “hold” rating to a “sell” rating in a report on Sunday, March 2nd.

Phillips 66 Trading Down 1.3 %

Shares of Phillips 66 stock opened at $124.89 on Tuesday. The firm has a market cap of $50.92 billion, a PE ratio of 25.28, a P/E/G ratio of 4.84 and a beta of 1.31. Phillips 66 has a 1 year low of $108.91 and a 1 year high of $174.08. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The stock has a fifty day moving average price of $124.74 and a 200-day moving average price of $125.57.

Phillips 66 (NYSE:PSX) last released its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($1.38). Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. During the same period in the previous year, the company earned $3.09 earnings per share. Equities research analysts anticipate that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date of this dividend was Monday, February 24th. Phillips 66’s dividend payout ratio is currently 93.12%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD lifted its stake in Phillips 66 by 283.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,026,649 shares of the oil and gas company’s stock worth $686,618,000 after purchasing an additional 4,455,220 shares during the last quarter. Norges Bank purchased a new position in shares of Phillips 66 during the 4th quarter valued at about $497,648,000. Raymond James Financial Inc. bought a new stake in Phillips 66 in the 4th quarter worth approximately $168,790,000. Capitolis Liquid Global Markets LLC purchased a new stake in Phillips 66 in the fourth quarter worth approximately $142,185,000. Finally, Jacobs Levy Equity Management Inc. grew its position in Phillips 66 by 157.6% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,541,240 shares of the oil and gas company’s stock valued at $175,593,000 after acquiring an additional 942,922 shares during the last quarter. 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.