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

Shares of Phillips 66 (NYSE:PSX) have earned a consensus rating of “Moderate Buy” from the fourteen ratings firms that are currently covering the stock, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $127.07.

PSX has been the subject of several recent research reports. StockNews.com assumed coverage on Phillips 66 in a report on Thursday, August 17th. They set a “hold” rating for the company. Morgan Stanley restated an “equal weight” rating and issued a $125.00 price target on shares of Phillips 66 in a research report on Wednesday, July 19th. Wells Fargo & Company raised their price objective on shares of Phillips 66 from $111.00 to $130.00 and gave the company an “overweight” rating in a research report on Thursday, August 3rd. Argus raised their price objective on shares of Phillips 66 from $125.00 to $134.00 and gave the company a “buy” rating in a research report on Monday, August 14th. Finally, The Goldman Sachs Group lowered their price target on Phillips 66 from $124.00 to $119.00 in a report on Friday, May 12th.

Phillips 66 Trading Up 1.3 %

NYSE PSX opened at $113.89 on Monday. Phillips 66 has a 12 month low of $74.02 and a 12 month high of $117.29. The stock’s fifty day moving average price is $104.70 and its 200-day moving average price is $101.01. The company has a current ratio of 1.33, a quick ratio of 0.90 and a debt-to-equity ratio of 0.61. The stock has a market cap of $50.71 billion, a P/E ratio of 4.94, a P/E/G ratio of 0.40 and a beta of 1.37.

Phillips 66 (NYSE:PSX) last issued its earnings results on Wednesday, August 2nd. The oil and gas company reported $3.87 earnings per share for the quarter, topping analysts’ consensus estimates of $3.54 by $0.33. The business had revenue of $35.74 billion during the quarter, compared to analyst estimates of $32.13 billion. Phillips 66 had a return on equity of 26.25% and a net margin of 6.81%. During the same quarter in the previous year, the firm earned $6.77 EPS. As a group, equities analysts forecast that Phillips 66 will post 15.06 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 18th will be issued a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a yield of 3.69%. The ex-dividend date is Thursday, August 17th. Phillips 66’s payout ratio is currently 18.22%.

Insider Activity at Phillips 66

In other Phillips 66 news, EVP Brian Mandell sold 3,000 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $111.84, for a total value of $335,520.00. Following the transaction, the executive vice president now directly owns 46,451 shares in the company, valued at approximately $5,195,079.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Phillips 66 news, EVP Brian Mandell sold 3,000 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $111.84, for a total value of $335,520.00. Following the transaction, the executive vice president now directly owns 46,451 shares in the company, valued at approximately $5,195,079.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Timothy D. Roberts sold 127,578 shares of the firm’s stock in a transaction on Friday, August 11th. The shares were sold at an average price of $116.68, for a total value of $14,885,801.04. Following the transaction, the executive vice president now owns 77,313 shares in the company, valued at approximately $9,020,880.84. The disclosure for this sale can be found here. Insiders sold a total of 309,878 shares of company stock worth $35,237,757 in the last quarter. 4.57% of the stock is owned by company insiders.

Hedge Funds Weigh In On Phillips 66

Several institutional investors have recently made changes to their positions in the company. Lindbrook Capital LLC raised its position in shares of Phillips 66 by 3.5% in the 2nd quarter. Lindbrook Capital LLC now owns 2,724 shares of the oil and gas company’s stock worth $260,000 after acquiring an additional 91 shares in the last quarter. Port Capital LLC raised its holdings in Phillips 66 by 3.6% in the second quarter. Port Capital LLC now owns 2,617 shares of the oil and gas company’s stock worth $250,000 after purchasing an additional 91 shares in the last quarter. Jennison Associates LLC raised its holdings in Phillips 66 by 3.7% in the second quarter. Jennison Associates LLC now owns 2,718 shares of the oil and gas company’s stock worth $259,000 after purchasing an additional 96 shares in the last quarter. Cobblestone Capital Advisors LLC NY raised its holdings in Phillips 66 by 0.6% in the fourth quarter. Cobblestone Capital Advisors LLC NY now owns 16,507 shares of the oil and gas company’s stock worth $1,718,000 after purchasing an additional 99 shares in the last quarter. Finally, Vectors Research Management LLC raised its holdings in Phillips 66 by 2.8% in the fourth quarter. Vectors Research Management LLC now owns 3,628 shares of the oil and gas company’s stock worth $378,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 77.52% of the company’s stock.

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.