Phillips 66 (NYSE:PSX) Receives $94.73 Average PT from Analysts

Shares of Phillips 66 (NYSE:PSXGet Rating) have been assigned a consensus recommendation of “Buy” from the eighteen brokerages that are presently covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation, eleven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $94.73.

PSX has been the topic of several recent analyst reports. Wells Fargo & Company lifted their price target on Phillips 66 from $104.00 to $105.00 and gave the company an “overweight” rating in a research note on Monday, January 31st. Bank of America lifted their price target on Phillips 66 from $97.00 to $104.00 and gave the company a “buy” rating in a research note on Monday, January 31st. TheStreet upgraded Phillips 66 from a “c+” rating to a “b” rating in a research report on Wednesday, February 23rd. Zacks Investment Research lowered Phillips 66 from a “strong-buy” rating to a “hold” rating and set a $76.00 price objective on the stock. in a research report on Monday, December 20th. Finally, Morgan Stanley boosted their price objective on Phillips 66 from $95.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 12th.

In other news, EVP Robert A. Herman sold 8,169 shares of the business’s stock in a transaction dated Wednesday, February 2nd. The stock was sold at an average price of $85.87, for a total value of $701,472.03. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Greg C. Garland sold 126,300 shares of the business’s stock in a transaction dated Monday, February 7th. The shares were sold at an average price of $88.47, for a total value of $11,173,761.00. The disclosure for this sale can be found here. Insiders have sold a total of 146,469 shares of company stock worth $12,955,593 over the last ninety days. Company insiders own 0.74% of the company’s stock.

Several large investors have recently made changes to their positions in PSX. Norges Bank acquired a new position in Phillips 66 during the 4th quarter worth approximately $276,446,000. Point72 Asset Management L.P. acquired a new position in Phillips 66 during the 4th quarter worth approximately $84,311,000. Marshall Wace LLP raised its stake in Phillips 66 by 948.6% during the 4th quarter. Marshall Wace LLP now owns 1,200,562 shares of the oil and gas company’s stock worth $86,991,000 after buying an additional 1,086,074 shares during the period. Pacer Advisors Inc. raised its stake in Phillips 66 by 1,102.9% during the 1st quarter. Pacer Advisors Inc. now owns 948,524 shares of the oil and gas company’s stock worth $81,943,000 after buying an additional 869,670 shares during the period. Finally, Renaissance Technologies LLC raised its stake in Phillips 66 by 101.0% during the 4th quarter. Renaissance Technologies LLC now owns 1,366,000 shares of the oil and gas company’s stock worth $98,980,000 after buying an additional 686,400 shares during the period. 67.65% of the stock is currently owned by institutional investors.

Shares of PSX opened at $82.85 on Friday. Phillips 66 has a 52-week low of $63.19 and a 52-week high of $94.34. The business’s fifty day moving average is $83.66 and its 200-day moving average is $80.12. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.88 and a current ratio of 1.15. The firm has a market cap of $39.86 billion, a price-to-earnings ratio of 27.99, a PEG ratio of 0.92 and a beta of 1.51.

Phillips 66 (NYSE:PSXGet Rating) last issued its quarterly earnings results on Friday, January 28th. The oil and gas company reported $2.94 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.93 by $1.01. Phillips 66 had a return on equity of 12.11% and a net margin of 1.15%. The company had revenue of $33.57 billion for the quarter, compared to analyst estimates of $27.11 billion. During the same quarter last year, the company posted ($1.16) EPS. As a group, research analysts forecast that Phillips 66 will post 8.02 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 1st. Shareholders of record on Tuesday, February 22nd were issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 4.44%. The ex-dividend date of this dividend was Friday, February 18th. Phillips 66’s payout ratio is presently 124.32%.

About Phillips 66 (Get Rating)

Phillips 66 operates as an energy manufacturing and logistics company. 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.

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