Phillips 66 (NYSE:PSX) Now Covered by Analysts at Bank of America

Bank of America initiated coverage on shares of Phillips 66 (NYSE:PSX) in a research report sent to investors on Thursday, MarketBeat reports. The firm issued a buy rating and a $156.00 price target on the oil and gas company’s stock.

A number of other research firms have also recently commented on PSX. Barclays decreased their target price on shares of Phillips 66 from $138.00 to $133.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 8th. Raymond James raised their price objective on shares of Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Mizuho dropped their target price on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Scotiabank decreased 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, Piper Sandler upped their price objective on Phillips 66 from $136.00 to $144.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $149.50.

Phillips 66 Trading Down 0.6 %

NYSE:PSX opened at $132.60 on Thursday. Phillips 66 has a one year low of $107.85 and a one year high of $174.08. The business has a fifty day moving average price of $133.18 and a 200-day moving average price of $140.20. The firm has a market capitalization of $56.22 billion, a price-to-earnings ratio of 10.20, a price-to-earnings-growth ratio of 5.75 and a beta of 1.33. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 0.79.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.33. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The business had revenue of $38.91 billion during the quarter, compared to analyst estimates of $37.79 billion. During the same quarter in the previous year, the company posted $3.87 earnings per share. Phillips 66’s revenue for the quarter was up 8.9% on a year-over-year basis. Sell-side analysts forecast that Phillips 66 will post 7.85 EPS for the current year.

Phillips 66 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be paid a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date is Monday, November 18th. Phillips 66’s payout ratio is 35.38%.

Insider Buying and Selling at Phillips 66

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the business’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 sale, the chief financial officer now directly owns 81,937 shares in the company, valued at $11,390,062.37. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.22% of the stock is owned by company insiders.

Hedge Funds Weigh In On Phillips 66

Large investors have recently modified their holdings of the stock. Crewe Advisors LLC bought a new position in Phillips 66 during the first quarter valued at $25,000. Keener Financial Planning LLC bought a new position in Phillips 66 during the 1st quarter valued at about $26,000. Strategic Financial Concepts LLC bought a new position in Phillips 66 during the 2nd quarter valued at about $26,000. nVerses Capital LLC purchased a new stake in Phillips 66 in the 3rd quarter worth about $26,000. Finally, Redmont Wealth Advisors LLC bought a new stake in Phillips 66 in the first quarter worth about $28,000. Institutional investors own 76.93% of the company’s stock.

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.