Phillips 66 (NYSE:PSX) Given New $155.00 Price Target at Raymond James

Phillips 66 (NYSE:PSX) had its price objective boosted by Raymond James from $150.00 to $155.00 in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have an outperform rating on the oil and gas company’s stock.

Several other analysts have also recently issued reports on the stock. Barclays cut their price target on shares of Phillips 66 from $142.00 to $136.00 and set an equal weight rating on the stock in a report on Tuesday, July 9th. Wolfe Research assumed coverage on shares of Phillips 66 in a report on Thursday, July 18th. They issued a peer perform rating on the stock. StockNews.com cut shares of Phillips 66 from a buy rating to a hold rating in a report on Monday, May 6th. Mizuho cut their price target on shares of Phillips 66 from $162.00 to $160.00 and set a neutral rating on the stock in a report on Thursday, June 20th. Finally, Wells Fargo & Company cut their price target on shares of Phillips 66 from $180.00 to $176.00 and set an overweight rating on the stock in a report on Wednesday. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $157.23.

Phillips 66 Trading Down 1.1 %

NYSE PSX opened at $145.48 on Wednesday. The company’s fifty day simple moving average is $139.17 and its 200-day simple moving average is $145.76. Phillips 66 has a 52 week low of $107.41 and a 52 week high of $174.08. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.58. The stock has a market cap of $61.68 billion, a P/E ratio of 11.19, a PEG ratio of 2.61 and a beta of 1.34.

Phillips 66 (NYSE:PSX) last posted its earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.33. Phillips 66 had a net margin of 3.33% and a return on equity of 16.64%. The business had revenue of $38.91 billion for the quarter, compared to analysts’ expectations of $37.79 billion. During the same period in the previous year, the company posted $3.87 earnings per share. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. Equities research analysts predict that Phillips 66 will post 9.4 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th will be given a dividend of $1.15 per share. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $4.60 annualized dividend and a dividend yield of 3.16%. Phillips 66’s dividend payout ratio is currently 35.38%.

Insider Transactions at Phillips 66

In other news, EVP Timothy D. Roberts sold 37,742 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $145.80, for a total transaction of $5,502,783.60. Following the completion of the transaction, the executive vice president now owns 48,365 shares in the company, valued at $7,051,617. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.22% of the company’s stock.

Hedge Funds Weigh In On Phillips 66

Institutional investors have recently modified their holdings of the company. DekaBank Deutsche Girozentrale grew its position in Phillips 66 by 12.4% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 201,592 shares of the oil and gas company’s stock valued at $26,501,000 after buying an additional 22,278 shares in the last quarter. TIAA Trust National Association grew its position in Phillips 66 by 32.9% in the 4th quarter. TIAA Trust National Association now owns 14,816 shares of the oil and gas company’s stock valued at $1,973,000 after buying an additional 3,670 shares in the last quarter. Duality Advisers LP bought a new position in Phillips 66 in the 1st quarter valued at about $3,596,000. Daiwa Securities Group Inc. grew its position in Phillips 66 by 27.7% in the 4th quarter. Daiwa Securities Group Inc. now owns 48,601 shares of the oil and gas company’s stock valued at $6,470,000 after buying an additional 10,536 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in Phillips 66 by 42.3% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 133,736 shares of the oil and gas company’s stock valued at $21,844,000 after buying an additional 39,775 shares in the last quarter. Institutional investors 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.