Phillips 66 (NYSE:PSX) Price Target Raised to $150.00

Phillips 66 (NYSE:PSX) had its target price lifted by Mizuho from $145.00 to $150.00 in a research note published on Friday morning, MarketBeat reports. Mizuho currently has a neutral rating on the oil and gas company’s stock.

A number of other equities analysts have also recently commented on PSX. Cowen reissued a “buy” rating on shares of Phillips 66 in a research note on Thursday, October 30th. Piper Sandler increased their price target on shares of Phillips 66 from $170.00 to $171.00 and gave the company a “neutral” rating in a report on Friday, December 5th. Barclays boosted their price objective on Phillips 66 from $132.00 to $141.00 and gave the stock an “equal weight” rating in a research note on Monday, November 17th. Morgan Stanley upped their price objective on Phillips 66 from $128.00 to $140.00 and gave the company an “equal weight” rating in a research report on Friday, October 3rd. Finally, Evercore ISI lifted their target price on Phillips 66 from $130.00 to $170.00 and gave the stock an “outperform” rating in a report on Friday, September 19th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and thirteen have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $148.35.

Phillips 66 Price Performance

Shares of Phillips 66 stock opened at $141.41 on Friday. The firm has a market cap of $56.98 billion, a PE ratio of 38.64, a PEG ratio of 0.74 and a beta of 0.92. The stock has a 50 day moving average of $135.66 and a 200 day moving average of $129.47. The company has a current ratio of 1.23, a quick ratio of 0.87 and a debt-to-equity ratio of 0.68. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $144.96.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.38. Phillips 66 had a return on equity of 5.53% and a net margin of 1.12%.The business had revenue of $33.69 billion for the quarter, compared to analysts’ expectations of $32.29 billion. During the same period in the prior year, the firm earned $2.04 EPS. On average, research analysts expect that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Monday, November 17th were paid a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Monday, November 17th. Phillips 66’s dividend payout ratio (DPR) is currently 131.15%.

Insider Buying and Selling at Phillips 66

In related news, EVP Brian Mandell sold 25,500 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $140.04, for a total value of $3,571,020.00. Following the completion of the sale, the executive vice president owned 56,838 shares in the company, valued at approximately $7,959,593.52. The trade was a 30.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kevin J. Mitchell sold 30,000 shares of the stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $138.00, for a total value of $4,140,000.00. Following the completion of the transaction, the chief financial officer directly owned 89,771 shares in the company, valued at approximately $12,388,398. This trade represents a 25.05% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 86,093 shares of company stock valued at $11,933,256 in the last three months. Company insiders own 0.22% of the company’s stock.

Institutional Investors Weigh In On Phillips 66

Several hedge funds have recently made changes to their positions in PSX. Allworth Financial LP raised its holdings in shares of Phillips 66 by 11.2% in the third quarter. Allworth Financial LP now owns 18,414 shares of the oil and gas company’s stock valued at $2,505,000 after acquiring an additional 1,855 shares in the last quarter. IFP Advisors Inc increased its position in Phillips 66 by 7.0% during the 3rd quarter. IFP Advisors Inc now owns 8,294 shares of the oil and gas company’s stock valued at $1,128,000 after purchasing an additional 545 shares during the period. Swiss Life Asset Management Ltd raised its holdings in shares of Phillips 66 by 16.5% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 57,476 shares of the oil and gas company’s stock valued at $7,818,000 after purchasing an additional 8,134 shares in the last quarter. Investment Research Partners LLC purchased a new stake in shares of Phillips 66 in the 3rd quarter worth approximately $375,000. Finally, KERR FINANCIAL PLANNING Corp purchased a new position in Phillips 66 during the third quarter valued at approximately $50,000. 76.93% of the stock is currently 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.