Phillips 66 (NYSE:PSX) Price Target Raised to $133.00

Phillips 66 (NYSE:PSX) had its price objective increased by Jefferies Financial Group from $130.00 to $133.00 in a report published on Monday morning,MarketScreener reports. They currently have a hold rating on the oil and gas company’s stock.

A number of other research analysts have also commented on the company. JPMorgan Chase & Co. set a $115.00 price target on Phillips 66 in a research report on Wednesday, June 18th. TD Cowen lifted their price target on shares of Phillips 66 from $130.00 to $134.00 and gave the company a “buy” rating in a report on Monday, July 28th. Evercore ISI initiated coverage on shares of Phillips 66 in a research report on Wednesday, June 18th. They set an “outperform” rating and a $130.00 price objective on the stock. Cantor Fitzgerald began coverage on shares of Phillips 66 in a research note on Wednesday, June 18th. They set a “neutral” rating on the stock. Finally, Morgan Stanley increased their price target on shares of Phillips 66 from $122.00 to $128.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat, Phillips 66 currently has a consensus rating of “Moderate Buy” and an average price target of $136.44.

Phillips 66 Stock Up 0.0%

Shares of NYSE PSX opened at $133.08 on Monday. The company has a market cap of $53.78 billion, a price-to-earnings ratio of 31.99, a PEG ratio of 1.99 and a beta of 1.15. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.60. The firm’s fifty day moving average is $127.15 and its 200 day moving average is $119.69. Phillips 66 has a 52 week low of $91.01 and a 52 week high of $140.60.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Friday, July 25th. The oil and gas company reported $2.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.79 by $0.59. The firm had revenue of $33.77 billion for the quarter, compared to analysts’ expectations of $32.11 billion. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. During the same quarter in the previous year, the company earned $2.31 earnings per share. On average, equities research analysts expect that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 19th were given a dividend of $1.20 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $4.80 annualized dividend and a dividend yield of 3.6%. Phillips 66’s dividend payout ratio (DPR) is 115.38%.

Insiders Place Their Bets

In other news, EVP Vanessa Allen Sutherland sold 4,393 shares of the company’s stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $135.00, for a total transaction of $593,055.00. Following the transaction, the executive vice president directly owned 38,980 shares of the company’s stock, valued at $5,262,300. This represents a 10.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Gregory Hayes purchased 8,350 shares of the stock in a transaction dated Thursday, August 14th. The shares were acquired at an average cost of $119.90 per share, for a total transaction of $1,001,165.00. Following the completion of the acquisition, the director owned 29,423 shares of the company’s stock, valued at approximately $3,527,817.70. This represents a 39.62% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 9,850 shares of company stock valued at $1,188,910. Insiders own 0.22% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in PSX. Forum Financial Management LP raised its stake in Phillips 66 by 1.0% during the 4th quarter. Forum Financial Management LP now owns 7,486 shares of the oil and gas company’s stock valued at $853,000 after buying an additional 77 shares during the last quarter. WealthTrust Axiom LLC increased its position in Phillips 66 by 1.1% during the first quarter. WealthTrust Axiom LLC now owns 7,241 shares of the oil and gas company’s stock valued at $894,000 after acquiring an additional 81 shares during the last quarter. Wolff Wiese Magana LLC increased its position in Phillips 66 by 62.1% during the second quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock valued at $26,000 after acquiring an additional 82 shares during the last quarter. Magnus Financial Group LLC grew its stake in shares of Phillips 66 by 2.8% during the 2nd quarter. Magnus Financial Group LLC now owns 3,083 shares of the oil and gas company’s stock valued at $368,000 after purchasing an additional 84 shares during the period. Finally, Biltmore Wealth Management LLC increased its position in shares of Phillips 66 by 2.4% during the 2nd quarter. Biltmore Wealth Management LLC now owns 3,613 shares of the oil and gas company’s stock valued at $431,000 after purchasing an additional 85 shares during the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

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.