Phillips 66 (NYSE:PSX) Receives $149.23 Average Price Target from Brokerages

Shares of Phillips 66 (NYSE:PSX) have been assigned a consensus rating of “Moderate Buy” from the fifteen brokerages that are covering the company, Marketbeat.com reports. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $149.00.

Several brokerages have commented on PSX. JPMorgan Chase & Co. dropped their price target on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 2nd. Piper Sandler set a $144.00 target price on shares of Phillips 66 in a research report on Thursday, October 17th. UBS Group reduced their price target on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a report on Monday, November 4th. Mizuho decreased their price target on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a research report on Monday. Finally, Scotiabank cut their price objective on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th.

Institutional Trading of Phillips 66

Several institutional investors have recently bought and sold shares of PSX. Blue Trust Inc. grew its holdings in shares of Phillips 66 by 37.8% in the 2nd quarter. Blue Trust Inc. now owns 3,763 shares of the oil and gas company’s stock worth $531,000 after purchasing an additional 1,033 shares during the last quarter. MONECO Advisors LLC increased its holdings in shares of Phillips 66 by 2.6% during the second quarter. MONECO Advisors LLC now owns 6,512 shares of the oil and gas company’s stock worth $919,000 after buying an additional 168 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its stake in shares of Phillips 66 by 13.2% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 12,182 shares of the oil and gas company’s stock valued at $1,720,000 after acquiring an additional 1,424 shares during the last quarter. Apollon Wealth Management LLC boosted its holdings in shares of Phillips 66 by 10.8% in the 2nd quarter. Apollon Wealth Management LLC now owns 12,777 shares of the oil and gas company’s stock worth $1,804,000 after acquiring an additional 1,249 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its position in Phillips 66 by 0.4% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 705,226 shares of the oil and gas company’s stock worth $99,557,000 after acquiring an additional 3,130 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Price Performance

NYSE PSX opened at $115.80 on Friday. The company has a market cap of $47.82 billion, a P/E ratio of 14.87, a P/E/G ratio of 4.06 and a beta of 1.35. Phillips 66 has a 1 year low of $114.41 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 fifty day simple moving average of $129.09 and a 200 day simple moving average of $133.47.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.41. The company had revenue of $36.16 billion during the quarter, compared to analysts’ expectations of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The business’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same period in the prior year, the company earned $4.63 earnings per share. On average, sell-side analysts predict that Phillips 66 will post 7.56 EPS for the current year.

Phillips 66 Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 18th were issued a $1.15 dividend. The ex-dividend date was Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.97%. Phillips 66’s payout ratio is presently 59.05%.

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.