Phillips 66 (NYSE:PSX) Price Target Raised to $141.00

Phillips 66 (NYSE:PSX) had its price target boosted by Barclays from $132.00 to $141.00 in a research note released on Monday,Benzinga reports. Barclays currently has an equal weight rating on the oil and gas company’s stock.

PSX has been the topic of a number of other reports. BMO Capital Markets lifted their price target on Phillips 66 from $152.00 to $160.00 in a report on Tuesday, November 11th. Zacks Research lowered Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 31st. Cowen reiterated a “buy” rating on shares of Phillips 66 in a research note on Thursday, October 30th. Morgan Stanley increased their price target on shares of 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, Raymond James Financial restated an “outperform” rating and set a $150.00 price objective (up previously from $145.00) on shares of Phillips 66 in a report on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and thirteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $145.71.

Phillips 66 Trading Down 2.9%

Shares of PSX stock opened at $134.40 on Monday. Phillips 66 has a 52-week low of $91.01 and a 52-week high of $143.25. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.79 and a current ratio of 1.07. The company has a 50-day simple moving average of $134.28 and a two-hundred day simple moving average of $126.70. The company has a market capitalization of $54.15 billion, a price-to-earnings ratio of 36.72, a PEG ratio of 1.81 and a beta of 1.08.

Phillips 66 (NYSE:PSX) last posted its earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 EPS for the quarter, topping the consensus estimate of $2.14 by $0.38. Phillips 66 had a net margin of 1.12% and a return on equity of 5.51%. The firm had revenue of $33.69 billion for the quarter, compared to analysts’ expectations of $32.29 billion. During the same quarter last year, the firm earned $2.04 EPS. Research analysts anticipate that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Monday, November 17th. Phillips 66’s payout ratio is currently 131.15%.

Insider Activity

In other news, EVP Vanessa Allen Sutherland sold 4,393 shares of the business’s stock in a transaction that occurred on Friday, September 26th. The shares were sold at an average price of $140.00, for a total value of $615,020.00. Following the sale, the executive vice president owned 34,587 shares of the company’s stock, valued at $4,842,180. The trade was a 11.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Kevin J. Mitchell sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $138.00, for a total transaction of $4,140,000.00. Following the completion of the transaction, the chief financial officer directly owned 89,771 shares of the company’s stock, valued at approximately $12,388,398. This trade represents a 25.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 38,786 shares of company stock worth $5,348,075. Insiders own 0.22% of the company’s stock.

Institutional Investors Weigh In On Phillips 66

A number of hedge funds and other institutional investors have recently bought and sold shares of PSX. Sunbelt Securities Inc. boosted its holdings in shares of Phillips 66 by 37.8% in the third quarter. Sunbelt Securities Inc. now owns 6,217 shares of the oil and gas company’s stock worth $846,000 after acquiring an additional 1,707 shares during the period. Captrust Financial Advisors lifted its holdings in Phillips 66 by 8.7% during the 3rd quarter. Captrust Financial Advisors now owns 135,922 shares of the oil and gas company’s stock worth $18,488,000 after purchasing an additional 10,891 shares in the last quarter. Aspire Private Capital LLC purchased a new stake in Phillips 66 during the 3rd quarter worth about $225,000. Danske Bank A S bought a new position in Phillips 66 in the 3rd quarter worth about $781,000. Finally, Icon Advisers Inc. Co. purchased a new position in Phillips 66 during the 3rd quarter valued at about $3,128,000. Institutional investors own 76.93% of the company’s stock.

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.