Phillips 66 (NYSE:PSX) Price Target Increased to $141.00 by Analysts at The Goldman Sachs Group

Phillips 66 (NYSE:PSX) had its price target hoisted by The Goldman Sachs Group from $125.00 to $141.00 in a report issued on Friday, Benzinga reports. They currently have a buy rating on the oil and gas company’s stock.

Several other equities research analysts also recently commented on the company. Argus raised their target price on Phillips 66 from $125.00 to $134.00 and gave the company a buy rating in a report on Monday, August 14th. StockNews.com began coverage on shares of Phillips 66 in a research report on Thursday, August 17th. They issued a hold rating for the company. Bank of America cut shares of Phillips 66 from a buy rating to a neutral rating and increased their price target for the stock from $132.00 to $141.00 in a research report on Tuesday, August 15th. Mizuho boosted their price objective on Phillips 66 from $118.00 to $127.00 and gave the company a neutral rating in a report on Wednesday, August 16th. Finally, TD Cowen raised Phillips 66 from a market perform rating to an outperform rating and upped their price target for the company from $110.00 to $123.00 in a research report on Thursday, June 1st. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, Phillips 66 presently has an average rating of Moderate Buy and a consensus target price of $128.53.

Phillips 66 Stock Performance

Shares of PSX stock opened at $117.17 on Friday. The firm has a market capitalization of $52.17 billion, a price-to-earnings ratio of 5.08, a price-to-earnings-growth ratio of 0.40 and a beta of 1.37. The company has a 50 day moving average price of $106.81 and a 200 day moving average price of $101.35. Phillips 66 has a one year low of $74.02 and a one year high of $117.31. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.90 and a current ratio of 1.33.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Wednesday, August 2nd. The oil and gas company reported $3.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.54 by $0.33. The firm had revenue of $35.74 billion during the quarter, compared to the consensus estimate 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 business earned $6.77 earnings per share. Sell-side analysts anticipate that Phillips 66 will post 15.14 EPS for the current year.

Phillips 66 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 18th were paid a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a yield of 3.58%. The ex-dividend date was Thursday, August 17th. Phillips 66’s payout ratio is currently 18.22%.

Insider Transactions at Phillips 66

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in PSX. OLD Second National Bank of Aurora acquired a new position in shares of Phillips 66 in the 4th quarter valued at about $26,000. First Capital Advisors Group LLC. acquired a new stake in shares of Phillips 66 during the 2nd quarter valued at $25,000. Country Trust Bank grew its holdings in shares of Phillips 66 by 1,315.8% during the 2nd quarter. Country Trust Bank now owns 269 shares of the oil and gas company’s stock valued at $26,000 after acquiring an additional 250 shares in the last quarter. Oliver Lagore Vanvalin Investment Group raised its holdings in shares of Phillips 66 by 504.0% during the first quarter. Oliver Lagore Vanvalin Investment Group now owns 302 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 252 shares in the last quarter. Finally, Fiduciary Alliance LLC acquired a new stake in Phillips 66 during the second quarter valued at $30,000. 71.83% of the stock is owned by hedge funds and other institutional investors.

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.