Phillips 66 (NYSE:PSX) Given New $150.00 Price Target at UBS Group

Phillips 66 (NYSE:PSX) had its price objective raised by UBS Group from $143.00 to $150.00 in a research report released on Monday morning,Benzinga reports. The firm currently has a buy rating on the oil and gas company’s stock.

A number of other research firms have also weighed in on PSX. Jefferies Financial Group increased their price target on Phillips 66 from $130.00 to $133.00 and gave the company a “hold” rating in a research report on Monday, September 15th. Evercore ISI increased their price target on Phillips 66 from $130.00 to $170.00 and gave the company an “outperform” rating in a research report on Friday. TD Cowen increased their price target on Phillips 66 from $130.00 to $134.00 and gave the company a “buy” rating in a research report on Monday, July 28th. Compass Point started coverage on Phillips 66 in a research report on Wednesday, June 18th. They issued a “buy” rating for the company. Finally, Argus upgraded Phillips 66 to a “strong-buy” rating in a research report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $139.38.

Phillips 66 Trading Up 0.1%

Shares of Phillips 66 stock opened at $129.86 on Monday. 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 has a market cap of $52.48 billion, a price-to-earnings ratio of 31.22, a price-to-earnings-growth ratio of 1.86 and a beta of 1.15. The business has a fifty day simple moving average of $127.06 and a 200-day simple moving average of $119.78. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $140.60.

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

Phillips 66 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 19th were paid a dividend of $1.20 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.7%. Phillips 66’s dividend payout ratio (DPR) is 115.38%.

Insider Transactions at Phillips 66

In other news, EVP Vanessa Allen Sutherland sold 4,393 shares of the firm’s stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $135.00, for a total transaction of $593,055.00. Following the completion of the sale, the executive vice president directly owned 38,980 shares of the company’s stock, valued at $5,262,300. This trade represents a 10.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael A. Heim purchased 1,000 shares of the business’s stock in a transaction dated Wednesday, July 30th. The shares were purchased at an average cost of $125.97 per share, with a total value of $125,970.00. Following the completion of the purchase, the director directly owned 12,043 shares in the company, valued at approximately $1,517,056.71. This represents a 9.06% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 9,850 shares of company stock valued at $1,188,910 over the last 90 days. Company insiders own 0.22% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Phillips 66 by 14.8% during the 2nd quarter. Vanguard Group Inc. now owns 46,368,000 shares of the oil and gas company’s stock valued at $5,531,702,000 after acquiring an additional 5,978,841 shares during the last quarter. Elliott Investment Management L.P. grew its holdings in shares of Phillips 66 by 22.4% during the 2nd quarter. Elliott Investment Management L.P. now owns 19,251,000 shares of the oil and gas company’s stock worth $2,296,644,000 after purchasing an additional 3,526,000 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Phillips 66 by 17.4% during the 2nd quarter. Geode Capital Management LLC now owns 10,327,304 shares of the oil and gas company’s stock worth $1,226,815,000 after purchasing an additional 1,532,967 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Phillips 66 by 6.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 9,394,750 shares of the oil and gas company’s stock worth $1,120,794,000 after purchasing an additional 537,245 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Phillips 66 by 11.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,709,108 shares of the oil and gas company’s stock worth $828,442,000 after buying an additional 682,459 shares during the period. Institutional investors and hedge funds own 76.93% 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.