Phillips 66 (NYSE:PSX) Receives $133.93 Average Price Target from Analysts

Shares of Phillips 66 (NYSE:PSX) have been assigned a consensus recommendation of “Moderate Buy” from the seventeen ratings firms that are covering the firm, MarketBeat.com reports. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $133.93.

PSX has been the topic of several analyst reports. Wells Fargo & Company cut their price target on shares of Phillips 66 from $149.00 to $147.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 11th. Raymond James Financial lowered their target price on shares of Phillips 66 from $150.00 to $140.00 and set an “outperform” rating on the stock in a report on Wednesday, April 9th. Barclays upped their price target on shares of Phillips 66 from $106.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Monday, May 12th. Morgan Stanley cut their price target on shares of Phillips 66 from $140.00 to $122.00 and set an “equal weight” rating for the company in a research note on Thursday, April 24th. Finally, TD Cowen boosted their price objective on shares of Phillips 66 from $114.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, May 13th.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $126.80 on Thursday. The company has a fifty day moving average price of $116.94 and a 200 day moving average price of $117.09. The firm has a market cap of $51.66 billion, a PE ratio of 28.88, a PEG ratio of 2.00 and a beta of 1.02. The company has a current ratio of 1.23, a quick ratio of 0.88 and a debt-to-equity ratio of 0.63. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $150.12.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.97). The firm had revenue of $31.92 billion for the quarter, compared to analyst estimates of $31.93 billion. Phillips 66 had a return on equity of 4.83% and a net margin of 1.32%. During the same period last year, the company earned $1.90 EPS. Research analysts predict that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were issued a dividend of $1.20 per share. The ex-dividend date was Monday, May 19th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.79%. This is a boost from Phillips 66’s previous quarterly dividend of $1.15. Phillips 66’s payout ratio is 109.34%.

Insider Transactions at Phillips 66

In other news, EVP Brian Mandell sold 9,800 shares of the stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $125.00, for a total value of $1,225,000.00. Following the completion of the transaction, the executive vice president owned 56,838 shares of the company’s stock, valued at approximately $7,104,750. This represents a 14.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert W. Pease purchased 439 shares of the firm’s stock in a transaction that occurred on Thursday, May 22nd. The shares were bought at an average cost of $113.85 per share, for a total transaction of $49,980.15. Following the completion of the acquisition, the director directly owned 4,091 shares in the company, valued at $465,760.35. The trade was a 12.02% increase in their position. The disclosure for this purchase can be found here. Insiders own 0.22% of the company’s stock.

Hedge Funds Weigh In On Phillips 66

Institutional investors and hedge funds have recently bought and sold shares of the company. J.Safra Asset Management Corp bought a new stake in shares of Phillips 66 during the fourth quarter worth about $25,000. Pacific Center for Financial Services bought a new position in Phillips 66 in the 4th quarter valued at approximately $27,000. von Borstel & Associates Inc. bought a new stake in Phillips 66 during the 1st quarter worth approximately $27,000. Graney & King LLC acquired a new position in Phillips 66 in the 4th quarter valued at approximately $28,000. Finally, Olde Wealth Management LLC bought a new position in shares of Phillips 66 during the first quarter valued at $28,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

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.