Phillips 66 (NYSE:PSX) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Phillips 66 (NYSE:PSX) have been given an average rating of “Moderate Buy” by the fifteen research firms that are currently covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $149.69.

Several equities analysts recently issued reports on the stock. Barclays reduced their price target on shares of Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating on the stock in a research report on Monday, November 11th. TD Cowen lowered their target price on Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Raymond James upped their price target on Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Mizuho lowered their price objective on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Finally, Wells Fargo & Company reduced their target price on shares of Phillips 66 from $182.00 to $167.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 9th.

Institutional Trading of Phillips 66

Institutional investors and hedge funds have recently modified their holdings of the business. Bessemer Group Inc. lifted its stake in Phillips 66 by 22.5% during the 1st quarter. Bessemer Group Inc. now owns 54,212 shares of the oil and gas company’s stock valued at $8,856,000 after acquiring an additional 9,954 shares during the period. Lake Street Advisors Group LLC grew its position in Phillips 66 by 36.5% in the 1st quarter. Lake Street Advisors Group LLC now owns 3,228 shares of the oil and gas company’s stock worth $527,000 after purchasing an additional 863 shares during the period. CANADA LIFE ASSURANCE Co raised its stake in Phillips 66 by 0.6% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 239,211 shares of the oil and gas company’s stock valued at $39,114,000 after buying an additional 1,376 shares during the last quarter. Crewe Advisors LLC bought a new position in shares of Phillips 66 during the 1st quarter valued at $25,000. Finally, CreativeOne Wealth LLC boosted its stake in shares of Phillips 66 by 51.5% in the 1st quarter. CreativeOne Wealth LLC now owns 3,209 shares of the oil and gas company’s stock worth $524,000 after buying an additional 1,091 shares during the last quarter. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Trading Up 1.4 %

NYSE PSX opened at $133.27 on Wednesday. The stock has a market cap of $55.04 billion, a P/E ratio of 17.11, a price-to-earnings-growth ratio of 4.34 and a beta of 1.33. Phillips 66 has a fifty-two week low of $117.32 and a fifty-two week high of $174.08. The stock has a 50 day simple moving average of $130.28 and a two-hundred day simple moving average of $135.27. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.41. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The business had revenue of $36.16 billion for the quarter, compared to analysts’ expectations of $36.31 billion. During the same quarter in the previous year, the business posted $4.63 earnings per share. The firm’s revenue for the quarter was down 10.3% compared to the same quarter last year. On average, analysts forecast that Phillips 66 will post 7.57 earnings per share for the current year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be issued a $1.15 dividend. The ex-dividend date is Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a yield of 3.45%. Phillips 66’s payout ratio is currently 59.05%.

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.