Phillips 66 (NYSE:PSX) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Phillips 66 (NYSE:PSX) have earned an average rating of “Moderate Buy” from the twenty-two brokerages that are covering the company, Marketbeat Ratings reports. Twelve equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $141.50.

A number of research firms have recently commented on PSX. Bank of America cut Phillips 66 from a “buy” rating to a “neutral” rating and raised their target price for the company from $144.00 to $147.00 in a research note on Wednesday, September 3rd. UBS Group upped their target price on shares of Phillips 66 from $143.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, September 22nd. Mizuho lifted their price target on shares of Phillips 66 from $140.00 to $142.00 and gave the company a “neutral” rating in a research report on Monday, September 15th. Piper Sandler upped their price objective on shares of Phillips 66 from $154.00 to $155.00 and gave the stock a “neutral” rating in a report on Monday, September 29th. Finally, Wells Fargo & Company started coverage on shares of Phillips 66 in a report on Friday. They set an “overweight” rating and a $154.00 target price for the company.

Insider Activity at Phillips 66

In other news, Director Sigmund L. Cornelius purchased 500 shares of the stock in a transaction dated Thursday, July 31st. The shares were purchased at an average cost of $123.55 per share, with a total value of $61,775.00. Following the acquisition, the director directly owned 21,543 shares of the company’s stock, valued at $2,661,637.65. This represents a 2.38% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael A. Heim purchased 1,000 shares of the company’s stock in a transaction dated Wednesday, July 30th. The stock was purchased at an average price of $125.97 per share, for a total transaction of $125,970.00. Following the completion of the purchase, the director owned 12,043 shares in the company, valued at approximately $1,517,056.71. The trade was a 9.06% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 9,850 shares of company stock worth $1,188,910. 0.22% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Brighton Jones LLC lifted its stake in shares of Phillips 66 by 238.5% in the 4th quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company’s stock worth $1,166,000 after purchasing an additional 7,214 shares during the period. Pallas Capital Advisors LLC increased its holdings in Phillips 66 by 63.2% during the first quarter. Pallas Capital Advisors LLC now owns 3,666 shares of the oil and gas company’s stock valued at $453,000 after buying an additional 1,419 shares during the last quarter. GAMMA Investing LLC increased its holdings in Phillips 66 by 15.2% during the first quarter. GAMMA Investing LLC now owns 9,634 shares of the oil and gas company’s stock valued at $1,190,000 after buying an additional 1,268 shares during the last quarter. Simplicity Wealth LLC bought a new position in Phillips 66 in the first quarter worth approximately $372,000. Finally, CX Institutional boosted its stake in shares of Phillips 66 by 14.8% during the 1st quarter. CX Institutional now owns 3,642 shares of the oil and gas company’s stock worth $450,000 after acquiring an additional 469 shares during the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Stock Up 0.7%

Shares of Phillips 66 stock opened at $129.21 on Friday. The company’s fifty day simple moving average is $130.43 and its two-hundred day simple moving average is $120.81. The company has a market cap of $52.22 billion, a P/E ratio of 31.06, a PEG ratio of 1.78 and a beta of 1.11. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.60. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $142.35.

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

Phillips 66 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be issued a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 3.7%. The ex-dividend date is Monday, November 17th. Phillips 66’s dividend payout ratio (DPR) is presently 115.38%.

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.