Phillips 66 (NYSE:PSX) Upgraded at Wolfe Research

Wolfe Research upgraded shares of Phillips 66 (NYSE:PSX) from a peer perform rating to an outperform rating in a research report report published on Friday morning, MarketBeat.com reports. The brokerage currently has $143.00 target price on the oil and gas company’s stock.

Several other research analysts also recently issued reports on the stock. Mizuho dropped their target price on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a research note on Monday, December 16th. Wells Fargo & Company lowered their price objective on Phillips 66 from $167.00 to $161.00 and set an “overweight” rating on the stock in a research report on Monday, December 9th. Piper Sandler set a $144.00 target price on Phillips 66 in a report on Thursday, October 17th. Scotiabank lowered their price target on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Finally, Barclays reduced their price objective on Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating for the company in a report on Monday, November 11th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Phillips 66 currently has a consensus rating of “Moderate Buy” and an average target price of $148.57.

Phillips 66 Trading Up 1.5 %

NYSE:PSX opened at $116.09 on Friday. The company’s 50-day simple moving average is $124.13 and its 200 day simple moving average is $131.40. Phillips 66 has a one year low of $108.90 and a one year high of $174.08. The firm has a market capitalization of $47.94 billion, a P/E ratio of 14.90, a PEG ratio of 4.06 and a beta of 1.35. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83.

Phillips 66 (NYSE:PSX) last issued 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. The firm had revenue of $36.16 billion during the quarter, compared to the consensus estimate of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The company’s revenue was down 10.3% on a year-over-year basis. During the same period last year, the company earned $4.63 earnings per share. As a group, analysts forecast that Phillips 66 will post 7.56 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 18th were issued a $1.15 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a yield of 3.96%. Phillips 66’s dividend payout ratio is currently 59.05%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Legal & General Group Plc boosted its stake in shares of Phillips 66 by 0.5% in the second quarter. Legal & General Group Plc now owns 3,699,370 shares of the oil and gas company’s stock worth $522,240,000 after acquiring an additional 18,238 shares during the period. Dimensional Fund Advisors LP grew its position in Phillips 66 by 3.2% in the second quarter. Dimensional Fund Advisors LP now owns 3,643,264 shares of the oil and gas company’s stock worth $514,253,000 after acquiring an additional 111,261 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Phillips 66 by 0.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,901,887 shares of the oil and gas company’s stock valued at $381,453,000 after purchasing an additional 16,941 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its position in Phillips 66 by 2.9% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,813,579 shares of the oil and gas company’s stock valued at $397,193,000 after acquiring an additional 79,301 shares during the last quarter. Finally, Mizuho Securities USA LLC raised its position in Phillips 66 by 7,549.0% in the 3rd quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock worth $328,625,000 after purchasing an additional 2,467,316 shares during the period. 76.93% of the stock is currently 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.