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

Phillips 66 (NYSE:PSX) has been given an average rating of “Moderate Buy” by the fifteen analysts that are currently covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $149.50.

Several equities analysts have recently issued reports on PSX shares. Morgan Stanley dropped their price target on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. TD Cowen decreased their price objective on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Piper Sandler set a $144.00 price objective on shares of Phillips 66 in a research report on Thursday, October 17th. JPMorgan Chase & Co. decreased their price objective on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. Finally, Wells Fargo & Company decreased their price objective on shares of Phillips 66 from $182.00 to $167.00 and set an “overweight” rating for the company in a research report on Wednesday, October 9th.

Insiders Place Their Bets

In other news, CFO Kevin J. Mitchell sold 30,000 shares of Phillips 66 stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the completion of the transaction, the chief financial officer now directly owns 81,937 shares in the company, valued at $11,390,062.37. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.22% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Crewe Advisors LLC acquired a new position in shares of Phillips 66 during the first quarter valued at about $25,000. Keener Financial Planning LLC bought a new position in shares of Phillips 66 during the first quarter valued at about $26,000. Redmont Wealth Advisors LLC bought a new position in shares of Phillips 66 during the first quarter valued at about $28,000. Ruedi Wealth Management Inc. lifted its position in shares of Phillips 66 by 102.1% during the first quarter. Ruedi Wealth Management Inc. now owns 190 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 96 shares in the last quarter. Finally, nVerses Capital LLC bought a new position in shares of Phillips 66 during the third quarter valued at about $26,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 Price Performance

PSX stock opened at $128.17 on Friday. The company has a fifty day moving average price of $132.65 and a 200-day moving average price of $139.50. The company has a market capitalization of $53.65 billion, a P/E ratio of 10.99, a PEG ratio of 5.61 and a beta of 1.33. Phillips 66 has a 52-week low of $107.85 and a 52-week high of $174.08. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.79 and a current ratio of 1.14.

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. The firm had revenue of $38.91 billion during the quarter, compared to the consensus estimate of $37.79 billion. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter last year, the firm earned $3.87 earnings per share. As a group, equities analysts expect that Phillips 66 will post 7.81 EPS for the current year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date of this dividend is Monday, November 18th. Phillips 66’s payout ratio is 39.45%.

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.