Analysts Set Phillips 66 (NYSE:PSX) PT at $140.75

Phillips 66 (NYSE:PSX) has received a consensus recommendation of “Moderate Buy” from the twenty-two research firms that are presently covering the stock, Marketbeat reports. Twelve research analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $140.75.

A number of equities research analysts recently weighed in on the stock. TD Cowen upped their target price on shares of Phillips 66 from $130.00 to $134.00 and gave the stock a “buy” rating in a report on Monday, July 28th. Compass Point assumed coverage on shares of Phillips 66 in a report on Wednesday, June 18th. They issued a “buy” rating on the stock. Cantor Fitzgerald assumed coverage on shares of Phillips 66 in a report on Wednesday, June 18th. They issued a “neutral” rating on the stock. Piper Sandler raised their price objective on Phillips 66 from $154.00 to $155.00 and gave the company a “neutral” rating in a research note on Monday, September 29th. Finally, Zacks Research upgraded Phillips 66 from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 26th.

Phillips 66 Stock Performance

Shares of PSX stock opened at $129.82 on Friday. The company has a market cap of $52.46 billion, a price-to-earnings ratio of 31.21, a price-to-earnings-growth ratio of 1.86 and a beta of 1.11. Phillips 66 has a 52 week low of $91.01 and a 52 week high of $142.35. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.60. The firm has a 50 day moving average of $129.67 and a 200-day moving average of $120.61.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Friday, July 25th. The oil and gas company reported $2.38 EPS for the quarter, topping the consensus estimate of $1.79 by $0.59. The company had revenue of $33.77 billion during the quarter, compared to the consensus estimate of $32.11 billion. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. During the same quarter last year, the firm posted $2.31 EPS. On average, equities analysts forecast that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be paid a dividend of $1.20 per share. The ex-dividend date is Monday, November 17th. This represents a $4.80 annualized dividend and a yield of 3.7%. Phillips 66’s dividend payout ratio (DPR) is 115.38%.

Insiders Place Their Bets

In other news, EVP Vanessa Allen Sutherland sold 4,393 shares of Phillips 66 stock in a transaction on Friday, September 26th. The stock was sold at an average price of $140.00, for a total transaction of $615,020.00. Following the sale, the executive vice president directly owned 34,587 shares in the company, valued at $4,842,180. The trade was a 11.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gregory Hayes acquired 8,350 shares of the firm’s stock in a transaction that occurred on Thursday, August 14th. The stock was purchased at an average cost of $119.90 per share, with a total value of $1,001,165.00. Following the acquisition, the director owned 29,423 shares in the company, valued at $3,527,817.70. The trade was a 39.62% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 9,850 shares of company stock valued at $1,188,910. 0.22% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Brighton Jones LLC boosted its position in shares of Phillips 66 by 238.5% during the 4th quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company’s stock valued at $1,166,000 after acquiring an additional 7,214 shares during the last quarter. Pallas Capital Advisors LLC lifted its position in Phillips 66 by 63.2% in the first quarter. Pallas Capital Advisors LLC now owns 3,666 shares of the oil and gas company’s stock valued at $453,000 after purchasing an additional 1,419 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Phillips 66 by 15.2% during the first quarter. GAMMA Investing LLC now owns 9,634 shares of the oil and gas company’s stock valued at $1,190,000 after buying an additional 1,268 shares during the period. Simplicity Wealth LLC purchased a new position in shares of Phillips 66 during the first quarter valued at approximately $372,000. Finally, CX Institutional increased its stake in shares of Phillips 66 by 14.8% during the first quarter. CX Institutional now owns 3,642 shares of the oil and gas company’s stock valued at $450,000 after buying an additional 469 shares during the period. Hedge funds and other 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.