Phillips 66 (NYSE:PSX) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Phillips 66 (NYSE:PSX – Get Rating) have been assigned an average rating of “Buy” from the eighteen ratings firms that are covering the stock, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $96.73.

Several research firms recently commented on PSX. Citigroup began coverage on shares of Phillips 66 in a research report on Tuesday, April 26th. They issued a “neutral” rating and a $89.00 price target for the company. TheStreet upgraded shares of Phillips 66 from a “c+” rating to a “b” rating in a research report on Wednesday, February 23rd. Bank of America upped their price target on shares of Phillips 66 from $97.00 to $104.00 and gave the company a “buy” rating in a research report on Monday, January 31st. StockNews.com upgraded shares of Phillips 66 from a “hold” rating to a “buy” rating in a research report on Thursday, May 5th. Finally, Royal Bank of Canada upped their price target on shares of Phillips 66 from $97.00 to $101.00 and gave the company an “outperform” rating in a research report on Tuesday, February 1st.

Shares of Phillips 66 stock opened at $89.48 on Tuesday. The company has a fifty day simple moving average of $84.13 and a 200-day simple moving average of $80.99. Phillips 66 has a 12-month low of $63.19 and a 12-month high of $96.76. The company has a current ratio of 1.13, a quick ratio of 0.88 and a debt-to-equity ratio of 0.59. The stock has a market cap of $43.05 billion, a price-to-earnings ratio of 15.59, a PEG ratio of 0.95 and a beta of 1.40.

Phillips 66 (NYSE:PSX – Get Rating) last issued its earnings results on Friday, April 29th. The oil and gas company reported $1.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.84 by ($0.52). Phillips 66 had a net margin of 1.97% and a return on equity of 17.07%. During the same quarter last year, the firm posted ($1.16) earnings per share. On average, analysts forecast that Phillips 66 will post 9.2 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 1st. Stockholders of record on Tuesday, February 22nd were issued a $0.92 dividend. The ex-dividend date of this dividend was Friday, February 18th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 4.11%. Phillips 66’s dividend payout ratio is presently 64.11%.

In other news, VP Paula Ann Johnson sold 12,000 shares of the stock in a transaction dated Thursday, February 10th. The shares were sold at an average price of $90.03, for a total value of $1,080,360.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.74% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of PSX. Moors & Cabot Inc. grew its stake in Phillips 66 by 191.2% in the 3rd quarter. Moors & Cabot Inc. now owns 25,000 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 16,415 shares during the last quarter. Evolution Advisers Inc. acquired a new stake in Phillips 66 in the 4th quarter valued at about $28,000. Schubert & Co acquired a new stake in Phillips 66 in the 4th quarter valued at about $29,000. First Community Trust NA grew its stake in Phillips 66 by 60.6% in the 1st quarter. First Community Trust NA now owns 334 shares of the oil and gas company’s stock valued at $29,000 after acquiring an additional 126 shares during the last quarter. Finally, JFS Wealth Advisors LLC grew its stake in Phillips 66 by 81.6% in the 3rd quarter. JFS Wealth Advisors LLC now owns 445 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 200 shares during the last quarter. 64.28% of the stock is currently owned by hedge funds and other institutional investors.

Phillips 66 Company Profile (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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