Research Analysts’ Weekly Ratings Changes for Phillips 66 (PSX)

Several analysts have recently updated their ratings and price targets for Phillips 66 (NYSE: PSX):

• 10/2/2024 – Phillips 66 had its price target lowered by analysts at JPMorgan Chase & Co. from $160.00 to $141.00. They now have an “overweight” rating on the stock.
• 9/20/2024 – Phillips 66 had its price target lowered by analysts at Piper Sandler from $151.00 to $136.00. They now have an “overweight” rating on the stock.
• 9/16/2024 – Phillips 66 had its price target lowered by analysts at Mizuho from $154.00 to $150.00. They now have a “neutral” rating on the stock.
• 9/16/2024 – Phillips 66 had its price target lowered by analysts at Morgan Stanley from $150.00 to $144.00. They now have an “equal weight” rating on the stock.
• 9/11/2024 – Phillips 66 had its price target lowered by analysts at TD Cowen from $162.00 to $150.00. They now have a “buy” rating on the stock.
• 9/3/2024 – Phillips 66 had its price target raised by analysts at Wells Fargo & Company from $176.00 to $182.00. They now have an “overweight” rating on the stock.
• 8/5/2024 – Phillips 66 had its price target raised by analysts at Barclays PLC from $136.00 to $138.00. They now have an “equal weight” rating on the stock.

Phillips 66 Price Performance

Shares of PSX opened at $138.93 on Friday. The company has a 50 day moving average of $133.90 and a 200-day moving average of $142.51. The company has a quick ratio of 0.79, a current ratio of 1.14 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $58.15 billion, a P/E ratio of 10.69, a P/E/G ratio of 5.28 and a beta of 1.33. Phillips 66 has a twelve month low of $107.85 and a twelve month high of $174.08.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.33. The company had revenue of $38.91 billion during the quarter, compared to the consensus estimate of $37.79 billion. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The company’s quarterly revenue was up 8.9% on a year-over-year basis. During the same period in the prior year, the business posted $3.87 EPS. As a group, equities research analysts forecast that Phillips 66 will post 8.27 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th were given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 3.31%. The ex-dividend date was Tuesday, August 20th. Phillips 66’s dividend payout ratio (DPR) is currently 35.38%.

Insider Buying and Selling at Phillips 66

In related news, CFO Kevin J. Mitchell sold 30,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $139.01, for a total value of $4,170,300.00. Following the completion of the sale, the chief financial officer now directly owns 81,937 shares in the company, valued at approximately $11,390,062.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.22% of the company’s stock.

Institutional Trading of Phillips 66

A number of hedge funds have recently modified their holdings of the stock. Crewe Advisors LLC bought a new stake in Phillips 66 in the 1st quarter valued at $25,000. Keener Financial Planning LLC bought a new stake in shares of Phillips 66 in the first quarter valued at about $26,000. Strategic Financial Concepts LLC acquired a new position in shares of Phillips 66 in the second quarter valued at about $26,000. Ables Iannone Moore & Associates Inc. acquired a new position in shares of Phillips 66 in the fourth quarter valued at about $27,000. Finally, Redmont Wealth Advisors LLC bought a new position in Phillips 66 during the first quarter worth about $28,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

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.