Phillips 66 (NYSE:PSX) Stock Price Expected to Rise, Barclays Analyst Says

Phillips 66 (NYSE:PSX) had its target price boosted by Barclays from $115.00 to $135.00 in a research report released on Friday,Benzinga reports. Barclays currently has an equal weight rating on the oil and gas company’s stock.

Other research analysts have also issued research reports about the company. StockNews.com lowered Phillips 66 from a “hold” rating to a “sell” rating in a report on Sunday, March 2nd. Wells Fargo & Company upped their price target on shares of Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Piper Sandler cut shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Wolfe Research upgraded shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price on the stock in a research report on Friday, January 3rd. Finally, Mizuho dropped their target price on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a report on Monday, December 16th. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $149.43.

Phillips 66 Stock Up 3.5 %

PSX stock opened at $126.84 on Friday. The stock has a market capitalization of $51.71 billion, a PE ratio of 25.68, a price-to-earnings-growth ratio of 4.84 and a beta of 1.31. The company has a fifty day moving average of $122.82 and a 200-day moving average of $125.90. 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 has a one year low of $108.91 and a one year high of $174.08.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($1.38). Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same quarter last year, the company posted $3.09 earnings per share. As a group, analysts expect that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 3.63%. The ex-dividend date of this dividend was Monday, February 24th. Phillips 66’s payout ratio is 93.12%.

Institutional Trading of Phillips 66

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Oppenheimer & Co. Inc. lifted its holdings in Phillips 66 by 10.6% in the 4th quarter. Oppenheimer & Co. Inc. now owns 46,953 shares of the oil and gas company’s stock valued at $5,349,000 after purchasing an additional 4,515 shares in the last quarter. Flavin Financial Services Inc. acquired a new position in shares of Phillips 66 in the fourth quarter valued at approximately $1,190,000. Everence Capital Management Inc. purchased a new position in shares of Phillips 66 during the fourth quarter valued at approximately $3,033,000. Donoghue Forlines LLC acquired a new stake in Phillips 66 during the fourth quarter worth approximately $1,438,000. Finally, Mizuho Securities USA LLC grew its stake 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 acquiring an additional 2,467,316 shares during the period. 76.93% of the stock is currently owned by hedge funds and other 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.