Phillips 66 (NYSE:PSX) Price Target Increased to $155.00 by Analysts at Raymond James

Phillips 66 (NYSE:PSX) had its target price raised by Raymond James from $150.00 to $155.00 in a report released on Wednesday morning, Benzinga reports. They currently have an outperform rating on the oil and gas company’s stock.

Other equities research analysts have also issued reports about the stock. TD Cowen upped their price target on shares of Phillips 66 from $155.00 to $162.00 and gave the company a buy rating in a report on Wednesday. Mizuho lowered their price target on shares of Phillips 66 from $162.00 to $160.00 and set a neutral rating for the company in a report on Thursday, June 20th. Barclays lowered their price target on shares of Phillips 66 from $142.00 to $136.00 and set an equal weight rating for the company in a report on Tuesday, July 9th. Piper Sandler reduced their price objective on shares of Phillips 66 from $170.00 to $151.00 and set an overweight rating on the stock in a research report on Friday, June 14th. Finally, StockNews.com downgraded shares of Phillips 66 from a buy rating to a hold rating in a research report on Monday, May 6th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $157.23.

Phillips 66 Trading Down 5.1 %

Shares of PSX opened at $133.76 on Wednesday. The firm has a market cap of $55.99 billion, a price-to-earnings ratio of 10.29, a PEG ratio of 2.50 and a beta of 1.34. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.82 and a current ratio of 1.14. Phillips 66 has a fifty-two week low of $107.41 and a fifty-two week high of $174.08. The firm has a 50 day moving average price of $138.97 and a 200-day moving average price of $145.84.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $0.33. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The company had revenue of $38.91 billion during the quarter, compared to analyst estimates of $37.79 billion. During the same period in the prior year, the business posted $3.87 EPS. The firm’s revenue was up 8.9% compared to the same quarter last year. As a group, equities research analysts forecast that Phillips 66 will post 9.4 earnings per share for the current year.

Phillips 66 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th will be given a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date is Tuesday, August 20th. Phillips 66’s dividend payout ratio is presently 35.38%.

Insider Transactions at Phillips 66

In other news, EVP Timothy D. Roberts sold 37,742 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $145.80, for a total value 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.22% of the company’s stock.

Institutional Trading of Phillips 66

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in Phillips 66 by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 41,271,077 shares of the oil and gas company’s stock valued at $6,741,218,000 after purchasing an additional 1,578,669 shares during the last quarter. Wellington Management Group LLP grew its position in Phillips 66 by 20.3% during the 4th quarter. Wellington Management Group LLP now owns 10,903,130 shares of the oil and gas company’s stock valued at $1,451,643,000 after purchasing an additional 1,842,226 shares during the last quarter. Bank of New York Mellon Corp grew its position in Phillips 66 by 5.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 8,422,720 shares of the oil and gas company’s stock valued at $1,189,035,000 after purchasing an additional 402,925 shares during the last quarter. Boston Partners grew its position in Phillips 66 by 41.4% during the 1st quarter. Boston Partners now owns 5,453,892 shares of the oil and gas company’s stock valued at $889,214,000 after purchasing an additional 1,595,722 shares during the last quarter. Finally, Norges Bank purchased a new stake in Phillips 66 during the 4th quarter valued at about $559,435,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

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.