Phillips 66 (NYSE:PSX) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Phillips 66 (NYSE:PSX) have been given a consensus recommendation of “Hold” by the twenty-three research firms that are presently covering the company, Marketbeat.com reports. Thirteen equities research analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $143.5625.

Several analysts have recently weighed in on the stock. Jefferies Financial Group boosted their price objective on shares of Phillips 66 from $133.00 to $137.00 and gave the stock a “hold” rating in a research report on Friday, October 10th. Wells Fargo & Company boosted their price target on shares of Phillips 66 from $154.00 to $162.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Wall Street Zen upgraded shares of Phillips 66 from a “hold” rating to a “buy” rating in a research note on Saturday, November 1st. Citigroup lowered Phillips 66 from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $126.00 to $130.00 in a report on Wednesday, July 16th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $150.00 target price (up from $145.00) on shares of Phillips 66 in a report on Friday, October 17th.

Insider Transactions at Phillips 66

In related news, Director Gregory Hayes bought 8,350 shares of the company’s stock in a transaction dated Thursday, August 14th. The shares were acquired at an average price of $119.90 per share, with a total value of $1,001,165.00. Following the completion of the acquisition, the director owned 29,423 shares in the company, valued at approximately $3,527,817.70. This trade represents a 39.62% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the company’s 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 transaction, the executive vice president owned 34,587 shares of the company’s stock, valued at approximately $4,842,180. The trade was a 11.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.22% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Phillips 66

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Evolution Wealth Management Inc. acquired a new position in Phillips 66 during the second quarter worth $25,000. Wolff Wiese Magana LLC grew its stake in shares of Phillips 66 by 62.1% during the 2nd quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 82 shares during the period. Pinpoint Asset Management Ltd purchased a new position in shares of Phillips 66 in the 1st quarter valued at about $29,000. Winnow Wealth LLC purchased a new position in shares of Phillips 66 in the 3rd quarter valued at about $36,000. Finally, Pinpoint Asset Management Singapore Pte. Ltd. purchased a new stake in Phillips 66 during the second quarter worth about $32,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Stock Down 0.3%

Phillips 66 stock opened at $137.80 on Wednesday. The firm has a market capitalization of $55.52 billion, a P/E ratio of 37.65, a P/E/G ratio of 1.81 and a beta of 1.08. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.60. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $142.35. The stock’s fifty day simple moving average is $133.20 and its 200-day simple moving average is $124.96.

Phillips 66 (NYSE:PSX) last issued its earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.38. Phillips 66 had a net margin of 1.12% and a return on equity of 5.51%. The firm had revenue of $33.69 billion for the quarter, compared to analysts’ expectations of $32.29 billion. During the same quarter last year, the company earned $2.04 earnings per share. As a group, equities analysts expect that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The firm 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 $1.20 dividend. The ex-dividend date is Monday, November 17th. This represents a $4.80 dividend on an annualized basis and a yield of 3.5%. Phillips 66’s payout ratio is currently 131.15%.

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.