Phillips 66 (NYSE: PSX) had its price target raised by Oppenheimer from $60.00 to $80.00 in a research report sent to investors on Tuesday morning.
Several other analysts have also recently commented on the stock. Analysts at Deutsche Bank raised their price target on shares of Phillips 66 from $60.00 to $69.00 in a research note to investors on Monday. They now have a hold rating on the stock. Separately, analysts at Argus raised their price target on shares of Phillips 66 from $67.00 to $75.00 in a research note to investors on Friday, February 1st. They now have a buy rating on the stock.
Eight research analysts have rated the stock with a buy rating, three have assigned an overweight rating, and seven have assigned a hold rating to the company. Phillips 66 currently has a consensus rating of overweight and an average target price of $68.92.
Shares of Phillips 66 traded up 1.12% during mid-day trading on Tuesday, hitting $64.83. Phillips 66 has a 52 week low of $28.75 and a 52 week high of $65.24. The stock’s 50-day moving average is currently $56.49. The company has a market cap of $40.571 billion and a P/E ratio of 9.89.
The company also recently declared a quarterly dividend, which is scheduled for Friday, March 1st. Stockholders of record on Monday, February 18th will be given a dividend of $0.31 per share. This represents a $1.25 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend is Tuesday, February 19th. This is a boost from Phillips 66′s previous quarterly dividend of $0.25.
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