Brokerages Set Phillips 66 (NYSE:PSX) PT at $136.67

Shares of Phillips 66 (NYSE:PSX) have been given a consensus rating of “Moderate Buy” by the twenty research firms that are currently covering the company, Marketbeat.com reports. Eleven analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $139.3750.

A number of research firms have commented on PSX. Raymond James Financial boosted their price target on shares of Phillips 66 from $142.00 to $145.00 and gave the company an “outperform” rating in a research report on Tuesday, September 9th. JPMorgan Chase & Co. set a $115.00 price target on shares of Phillips 66 in a research report on Wednesday, June 18th. Cantor Fitzgerald began coverage on shares of Phillips 66 in a research report on Wednesday, June 18th. They issued a “neutral” rating on the stock. Wall Street Zen upgraded shares of Phillips 66 from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Finally, TD Cowen boosted their price target on shares of Phillips 66 from $130.00 to $134.00 and gave the company a “buy” rating in a research report on Monday, July 28th.

Phillips 66 Price Performance

Shares of Phillips 66 stock opened at $129.86 on Tuesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.79 and a current ratio of 1.07. The firm’s 50-day simple moving average is $127.06 and its 200-day simple moving average is $119.78. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $140.60. The firm has a market cap of $52.48 billion, a P/E ratio of 31.22, a price-to-earnings-growth ratio of 1.86 and a beta of 1.15.

Phillips 66 (NYSE:PSX) last issued its earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share for the quarter, beating the consensus estimate of $1.79 by $0.59. The business had revenue of $33.77 billion for the quarter, compared to analyst estimates of $32.11 billion. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. During the same period in the previous year, the business earned $2.31 EPS. As a group, research analysts expect that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 19th were paid a $1.20 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.7%. Phillips 66’s payout ratio is currently 115.38%.

Insider Activity at Phillips 66

In related news, Director Sigmund L. Cornelius bought 500 shares of the company’s stock in a transaction on Thursday, July 31st. The stock was bought at an average cost of $123.55 per share, with a total value of $61,775.00. Following the completion of the purchase, the director owned 21,543 shares in the company, valued at approximately $2,661,637.65. The trade was a 2.38% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Gregory Hayes bought 8,350 shares of the company’s stock in a transaction on Thursday, August 14th. The stock was bought at an average cost of $119.90 per share, with a total value of $1,001,165.00. Following the completion of the purchase, the director owned 29,423 shares of the company’s stock, valued at approximately $3,527,817.70. The trade was a 39.62% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders purchased 9,850 shares of company stock valued at $1,188,910. Insiders own 0.22% of the company’s stock.

Hedge Funds Weigh In On Phillips 66

Institutional investors have recently modified their holdings of the stock. Evolution Wealth Management Inc. bought a new position in shares of Phillips 66 in the second quarter worth about $25,000. Wolff Wiese Magana LLC raised its stake in shares of Phillips 66 by 62.1% during the second quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock worth $26,000 after buying an additional 82 shares during the last quarter. Pacific Center for Financial Services bought a new stake in shares of Phillips 66 during the fourth quarter worth approximately $27,000. von Borstel & Associates Inc. bought a new stake in shares of Phillips 66 during the first quarter worth approximately $27,000. Finally, Olde Wealth Management LLC bought a new stake in shares of Phillips 66 during the first quarter worth approximately $28,000. 76.93% of the stock is owned by 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.