Phillips 66 (NYSE:PSX) Price Target Raised to $135.00

Phillips 66 (NYSE:PSX) had its price objective boosted by Barclays from $115.00 to $135.00 in a report issued on Friday morning,Benzinga reports. Barclays currently has an equal weight rating on the oil and gas company’s stock.

Several other equities analysts also recently commented on PSX. Piper Sandler downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Mizuho cut their price target on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Wells Fargo & Company boosted their price objective on Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. StockNews.com cut shares of Phillips 66 from a “hold” rating to a “sell” rating in a report on Sunday, March 2nd. Finally, Wolfe Research upgraded shares of 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. One investment analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $149.43.

Phillips 66 Stock Performance

Shares of Phillips 66 stock opened at $126.84 on Friday. The stock has a market capitalization of $51.71 billion, a price-to-earnings ratio of 25.68, a price-to-earnings-growth ratio of 4.84 and a beta of 1.31. 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 business has a 50-day moving average of $122.82 and a 200 day moving average of $125.90. Phillips 66 has a 12 month low of $108.91 and a 12 month high of $174.08.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) EPS for the quarter, missing the consensus estimate of $1.23 by ($1.38). Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same quarter in the previous year, the business posted $3.09 earnings per share. As a group, sell-side analysts forecast that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date was Monday, February 24th. Phillips 66’s dividend payout ratio (DPR) is currently 93.12%.

Institutional Trading of Phillips 66

A number of large investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its stake in Phillips 66 by 283.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,026,649 shares of the oil and gas company’s stock valued at $686,618,000 after buying an additional 4,455,220 shares during the last quarter. Norges Bank purchased a new stake in Phillips 66 in the 4th quarter valued at $497,648,000. Mizuho Securities USA LLC boosted its stake in Phillips 66 by 7,549.0% during the 3rd quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock worth $328,625,000 after purchasing an additional 2,467,316 shares during the period. Raymond James Financial Inc. purchased a new position in Phillips 66 during the 4th quarter worth $168,790,000. Finally, Capitolis Liquid Global Markets LLC acquired a new position in Phillips 66 in the fourth quarter valued at $142,185,000. 76.93% of the stock is owned by institutional investors and hedge funds.

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.