Phillips 66 (NYSE:PSX) Given Average Recommendation of “Moderate Buy” by Brokerages

Phillips 66 (NYSE:PSX) has been assigned an average recommendation of “Moderate Buy” from the fourteen analysts that are presently covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $146.43.

A number of research analysts have recently weighed in on PSX shares. StockNews.com cut Phillips 66 from a “hold” rating to a “sell” rating in a research report on Sunday, March 2nd. Wells Fargo & Company lifted their price target on shares of Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Mizuho reduced their price objective on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. Piper Sandler downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Finally, Wolfe Research upgraded Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target for the company in a research note on Friday, January 3rd.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Quest Partners LLC increased its holdings in shares of Phillips 66 by 324,800.0% in the 3rd quarter. Quest Partners LLC now owns 3,249 shares of the oil and gas company’s stock worth $427,000 after buying an additional 3,248 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in Phillips 66 by 113.4% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,703 shares of the oil and gas company’s stock valued at $750,000 after purchasing an additional 3,030 shares during the period. Nwam LLC bought a new stake in shares of Phillips 66 in the 3rd quarter valued at approximately $498,000. Meridian Wealth Management LLC purchased a new position in shares of Phillips 66 in the 3rd quarter worth approximately $203,000. Finally, Great Valley Advisor Group Inc. increased its position in shares of Phillips 66 by 1.8% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 15,499 shares of the oil and gas company’s stock valued at $2,037,000 after purchasing an additional 267 shares during the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Stock Up 1.6 %

PSX opened at $123.72 on Tuesday. The firm’s 50 day simple moving average is $124.82 and its two-hundred day simple moving average is $125.50. The company has a market capitalization of $50.44 billion, a PE ratio of 25.04, a PEG ratio of 4.84 and a beta of 1.31. Phillips 66 has a 1-year low of $108.91 and a 1-year high of $174.08. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX) last announced its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($1.38). Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. During the same period in the prior year, the firm earned $3.09 earnings per share. As a group, equities analysts forecast that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were issued a dividend of $1.15 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $4.60 annualized dividend and a dividend yield of 3.72%. Phillips 66’s dividend payout ratio (DPR) is 93.12%.

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.