Phillips 66 (NYSE:PSX) Receives New Coverage from Analysts at Wolfe Research

Wolfe Research started coverage on shares of Phillips 66 (NYSE:PSX) in a research report released on Thursday, MarketBeat reports. The firm issued a peer perform rating on the oil and gas company’s stock.

A number of other equities research analysts have also recently weighed in on PSX. Argus reissued a buy rating and issued a $167.00 price target on shares of Phillips 66 in a research report on Thursday, May 30th. StockNews.com downgraded Phillips 66 from a buy rating to a hold rating in a report on Monday, May 6th. The Goldman Sachs Group raised their price target on Phillips 66 from $152.00 to $174.00 and gave the stock a buy rating in a research note on Friday, March 22nd. JPMorgan Chase & Co. reduced their price objective on Phillips 66 from $165.00 to $162.00 and set an overweight rating for the company in a research note on Tuesday, July 2nd. Finally, Scotiabank lowered their target price on shares of Phillips 66 from $156.00 to $145.00 and set a sector outperform rating on the stock in a research report on Friday, July 12th. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $155.86.

Phillips 66 Price Performance

PSX stock opened at $137.61 on Thursday. Phillips 66 has a 52-week low of $101.13 and a 52-week high of $174.08. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.58. The stock has a market cap of $58.34 billion, a price-to-earnings ratio of 10.59, a price-to-earnings-growth ratio of 2.29 and a beta of 1.34. The business has a fifty day moving average of $139.86 and a two-hundred day moving average of $145.17.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.90 earnings per share for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. The business had revenue of $36.44 billion during the quarter, compared to analyst estimates of $35.87 billion. During the same quarter last year, the firm posted $4.21 EPS. As a group, research analysts anticipate that Phillips 66 will post 10.26 earnings per share for the current year.

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th will be paid a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date of this dividend is Tuesday, August 20th. Phillips 66’s payout ratio is currently 35.38%.

Insider Activity at Phillips 66

In other Phillips 66 news, EVP Timothy D. Roberts sold 37,742 shares of the firm’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $145.80, for a total transaction of $5,502,783.60. Following the sale, the executive vice president now directly owns 48,365 shares of the company’s stock, valued at approximately $7,051,617. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.22% of the stock is currently owned by corporate insiders.

Institutional Trading of Phillips 66

A number of hedge funds have recently bought and sold shares of the company. Crewe Advisors LLC acquired a new stake in shares of Phillips 66 during the first quarter worth $25,000. Keener Financial Planning LLC purchased a new position in Phillips 66 during the first quarter worth about $26,000. Redmont Wealth Advisors LLC purchased a new position in Phillips 66 during the first quarter worth about $28,000. Ruedi Wealth Management Inc. boosted its stake in Phillips 66 by 102.1% in the 1st quarter. Ruedi Wealth Management Inc. now owns 190 shares of the oil and gas company’s stock worth $31,000 after buying an additional 96 shares during the last quarter. Finally, Ables Iannone Moore & Associates Inc. purchased a new stake in Phillips 66 in the 4th quarter valued at about $27,000. 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.