Brokerages Set Phillips 66 (NYSE:PSX) Target Price at $149.50

Shares of Phillips 66 (NYSE:PSX) have been assigned a consensus recommendation of “Moderate Buy” from the fifteen brokerages that are currently covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $149.50.

A number of equities research analysts have issued reports on PSX shares. Wolfe Research assumed coverage on shares of Phillips 66 in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. Wells Fargo & Company reduced their price target 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. Morgan Stanley lowered their price objective on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Barclays reduced their target price on Phillips 66 from $138.00 to $133.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 8th. Finally, Mizuho dropped 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.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of Phillips 66 stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the transaction, the chief financial officer now directly owns 81,937 shares of the company’s stock, valued at approximately $11,390,062.37. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.22% of the company’s stock.

Institutional Trading of Phillips 66

Large investors have recently bought and sold shares of the business. MV Capital Management Inc. increased its stake in shares of Phillips 66 by 9.6% in the 1st quarter. MV Capital Management Inc. now owns 837 shares of the oil and gas company’s stock valued at $137,000 after acquiring an additional 73 shares in the last quarter. Mitchell & Pahl Private Wealth LLC increased its stake in Phillips 66 by 0.4% in the second quarter. Mitchell & Pahl Private Wealth LLC now owns 17,847 shares of the oil and gas company’s stock valued at $2,519,000 after purchasing an additional 74 shares in the last quarter. Catalyst Financial Partners LLC raised its holdings in shares of Phillips 66 by 5.1% during the second quarter. Catalyst Financial Partners LLC now owns 1,514 shares of the oil and gas company’s stock valued at $214,000 after purchasing an additional 74 shares during the period. Claro Advisors LLC boosted its position in shares of Phillips 66 by 4.5% during the 1st quarter. Claro Advisors LLC now owns 1,738 shares of the oil and gas company’s stock worth $284,000 after purchasing an additional 75 shares in the last quarter. Finally, Advisory Alpha LLC grew its stake in shares of Phillips 66 by 4.8% in the 2nd quarter. Advisory Alpha LLC now owns 1,648 shares of the oil and gas company’s stock valued at $233,000 after buying an additional 76 shares during the period. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 Trading Up 0.6 %

Shares of PSX stock opened at $128.89 on Friday. The stock has a market cap of $53.95 billion, a P/E ratio of 11.05, a price-to-earnings-growth ratio of 5.47 and a beta of 1.33. Phillips 66 has a 1 year low of $109.86 and a 1 year high of $174.08. The company has a current ratio of 1.14, a quick ratio of 0.79 and a debt-to-equity ratio of 0.56. The stock has a 50 day simple moving average of $132.22 and a 200 day simple moving average of $138.59.

Phillips 66 (NYSE:PSX) last released its earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.33. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The firm had revenue of $38.91 billion during the quarter, compared to the consensus estimate of $37.79 billion. During the same period in the prior year, the company posted $3.87 EPS. The company’s revenue was up 8.9% compared to the same quarter last year. On average, research analysts predict that Phillips 66 will post 7.81 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be given a dividend of $1.15 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.60 annualized dividend and a yield of 3.57%. Phillips 66’s dividend payout ratio is presently 39.45%.

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.