Phillips 66 (NYSE:PSX) Given Average Rating of “Moderate Buy” by Analysts

Shares of Phillips 66 (NYSE:PSX) have received a consensus rating of “Moderate Buy” from the seventeen analysts that are covering the firm, Marketbeat Ratings reports. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $133.93.

PSX has been the topic of a number of recent research reports. Raymond James Financial reduced their price target on shares of Phillips 66 from $150.00 to $140.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 9th. Cantor Fitzgerald began coverage on shares of Phillips 66 in a report on Wednesday, June 18th. They set a “neutral” rating on the stock. Scotiabank decreased their target price on shares of Phillips 66 from $136.00 to $133.00 and set a “sector outperform” rating on the stock in a research report on Friday, April 11th. Morgan Stanley cut their price target on shares of Phillips 66 from $140.00 to $122.00 and set an “equal weight” rating for the company in a research report on Thursday, April 24th. Finally, UBS Group reduced their price objective on Phillips 66 from $144.00 to $140.00 and set a “buy” rating on the stock in a research note on Monday, April 28th.

Insider Buying and Selling

In related news, Director Robert W. Pease purchased 439 shares of the business’s stock in a transaction that occurred on Thursday, May 22nd. The shares were acquired at an average price of $113.85 per share, for a total transaction of $49,980.15. Following the completion of the acquisition, the director directly owned 4,091 shares in the company, valued at approximately $465,760.35. The trade was a 12.02% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Brian Mandell sold 9,800 shares of the business’s stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $125.00, for a total transaction of $1,225,000.00. Following the transaction, the executive vice president directly owned 56,838 shares in the company, valued at approximately $7,104,750. The trade was a 14.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.22% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Phillips 66

Several institutional investors and hedge funds have recently modified their holdings of the stock. Cohen & Steers Inc. raised its stake in Phillips 66 by 40.3% in the fourth quarter. Cohen & Steers Inc. now owns 91,663 shares of the oil and gas company’s stock worth $10,443,000 after buying an additional 26,318 shares in the last quarter. American Assets Investment Management LLC grew its holdings in shares of Phillips 66 by 2.3% during the 4th quarter. American Assets Investment Management LLC now owns 130,800 shares of the oil and gas company’s stock worth $14,902,000 after acquiring an additional 3,000 shares during the period. Raymond James Financial Inc. bought a new position in shares of Phillips 66 in the 4th quarter worth approximately $168,790,000. LBP AM SA raised its position in shares of Phillips 66 by 217.9% in the 4th quarter. LBP AM SA now owns 68,923 shares of the oil and gas company’s stock worth $7,852,000 after acquiring an additional 47,242 shares in the last quarter. Finally, Cary Street Partners Financial LLC purchased a new position in shares of Phillips 66 in the 4th quarter valued at approximately $4,333,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Stock Up 2.6%

PSX opened at $126.36 on Thursday. The business’s fifty day simple moving average is $116.04 and its 200 day simple moving average is $116.90. Phillips 66 has a 52 week low of $91.01 and a 52 week high of $150.12. The company has a quick ratio of 0.88, a current ratio of 1.23 and a debt-to-equity ratio of 0.63. The stock has a market cap of $51.48 billion, a PE ratio of 28.78, a P/E/G ratio of 1.93 and a beta of 1.02.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.97). The firm had revenue of $31.92 billion during the quarter, compared to analysts’ expectations of $31.93 billion. Phillips 66 had a return on equity of 4.83% and a net margin of 1.32%. During the same quarter in the previous year, the company posted $1.90 earnings per share. As a group, research analysts expect that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were given a dividend of $1.20 per share. This is a positive change from Phillips 66’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend was Monday, May 19th. This represents a $4.80 dividend on an annualized basis and a yield of 3.80%. Phillips 66’s dividend payout ratio is presently 109.34%.

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.