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

Phillips 66 (NYSE:PSX) has been assigned an average recommendation of “Moderate Buy” from the fifteen brokerages that are covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $148.57.

Several brokerages recently issued reports on PSX. JPMorgan Chase & Co. cut their target price on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 2nd. Mizuho dropped their price target on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a research note on Monday, December 16th. Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective for the company in a research note on Friday, January 3rd. Bank of America assumed coverage on Phillips 66 in a research report on Thursday, October 17th. They set a “buy” rating and a $156.00 target price on the stock. Finally, UBS Group cut their target price on Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, November 4th.

Phillips 66 Stock Performance

Shares of Phillips 66 stock opened at $116.26 on Thursday. The business has a 50-day moving average price of $123.34 and a two-hundred day moving average price of $130.77. Phillips 66 has a 1-year low of $108.90 and a 1-year high of $174.08. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The company has a market cap of $48.01 billion, a P/E ratio of 14.92, a PEG ratio of 4.06 and a beta of 1.38.

Phillips 66 (NYSE:PSX) last issued its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.41. The business 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 firm’s revenue for the quarter was down 10.3% on a year-over-year basis. During the same period in the previous year, the company posted $4.63 earnings per share. As a group, analysts anticipate that Phillips 66 will post 7.56 EPS for the current year.

Phillips 66 Announces Dividend

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

Hedge Funds Weigh In On Phillips 66

Several hedge funds have recently modified their holdings of the company. Strategic Financial Concepts LLC purchased a new stake in shares of Phillips 66 during the second quarter valued at approximately $26,000. nVerses Capital LLC bought a new position in Phillips 66 in the 3rd quarter valued at $26,000. Values First Advisors Inc. purchased a new stake in shares of Phillips 66 during the 3rd quarter valued at $30,000. Point72 Hong Kong Ltd bought a new stake in shares of Phillips 66 during the 3rd quarter worth $40,000. Finally, Strategic Investment Solutions Inc. IL purchased a new position in shares of Phillips 66 in the 2nd quarter worth about $51,000. Institutional investors own 76.93% of the company’s stock.

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.