Analysts Set Phillips 66 (NYSE:PSX) Price Target at $157.79

Phillips 66 (NYSE:PSX) has been given an average rating of “Moderate Buy” by the fifteen ratings firms that are presently covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $157.79.

PSX has been the topic of several recent analyst reports. Argus reaffirmed a “buy” rating and issued a $167.00 price target on shares of Phillips 66 in a report on Thursday, May 30th. Mizuho lowered their price target on Phillips 66 from $162.00 to $160.00 and set a “neutral” rating on the stock in a report on Thursday, June 20th. Barclays lowered their price target on Phillips 66 from $155.00 to $147.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 30th. TD Cowen lowered their price target on Phillips 66 from $164.00 to $155.00 and set a “buy” rating on the stock in a report on Friday, June 21st. Finally, Piper Sandler lowered their price target on Phillips 66 from $170.00 to $151.00 and set an “overweight” rating on the stock in a report on Friday, June 14th.

Insiders Place Their Bets

In other Phillips 66 news, EVP Timothy D. Roberts sold 37,742 shares of Phillips 66 stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $145.80, for a total value of $5,502,783.60. Following the transaction, the executive vice president now directly owns 48,365 shares of the company’s stock, valued at approximately $7,051,617. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.22% of the company’s stock.

Institutional Investors Weigh In On Phillips 66

Large investors have recently made changes to their positions in the business. Crewe Advisors LLC bought a new stake in shares of Phillips 66 in the 1st quarter worth approximately $25,000. Keener Financial Planning LLC bought a new stake in shares of Phillips 66 in the 1st quarter worth approximately $26,000. Ables Iannone Moore & Associates Inc. bought a new stake in shares of Phillips 66 in the 4th quarter worth approximately $27,000. Redmont Wealth Advisors LLC bought a new stake in shares of Phillips 66 in the 1st quarter worth approximately $28,000. Finally, First United Bank & Trust bought a new stake in shares of Phillips 66 during the fourth quarter valued at approximately $31,000. 76.93% of the stock is currently owned by institutional investors.

Phillips 66 Stock Up 1.3 %

Shares of NYSE:PSX opened at $141.17 on Friday. The firm has a fifty day moving average price of $142.91 and a two-hundred day moving average price of $144.70. The company has a market cap of $59.85 billion, a price-to-earnings ratio of 10.86, a PEG ratio of 2.12 and a beta of 1.37. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.17 and a quick ratio of 0.82. Phillips 66 has a one year low of $93.40 and a one year high of $174.08.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.05 by ($0.15). The business had revenue of $36.44 billion for the quarter, compared to the consensus estimate of $35.87 billion. Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. During the same period in the prior year, the business posted $4.21 EPS. Analysts anticipate that Phillips 66 will post 11.08 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 20th were paid a $1.15 dividend. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date was Friday, May 17th. Phillips 66’s payout ratio is 35.38%.

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.