Phillips 66 (NYSE:PSX) Price Target Raised to $120.00

Phillips 66 (NYSE:PSX) had its price objective boosted by TD Cowen from $114.00 to $120.00 in a research note released on Tuesday, MarketBeat reports. TD Cowen currently has a buy rating on the oil and gas company’s stock.

Other equities analysts also recently issued research reports about the stock. Raymond James lowered their target price on shares of Phillips 66 from $150.00 to $140.00 and set an “outperform” rating for the company in a research note on Wednesday, April 9th. StockNews.com upgraded shares of Phillips 66 from a “sell” rating to a “hold” rating in a report on Monday, April 28th. JPMorgan Chase & Co. cut their price target on shares of Phillips 66 from $138.00 to $131.00 and set an “overweight” rating on the stock in a report on Tuesday, April 29th. Scotiabank cut their price target on shares of Phillips 66 from $136.00 to $133.00 and set a “sector outperform” rating on the stock in a report on Friday, April 11th. Finally, UBS Group lowered their price objective on shares of Phillips 66 from $144.00 to $140.00 and set a “buy” rating on the stock in a research report on Monday, April 28th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Phillips 66 currently has an average rating of “Moderate Buy” and a consensus price target of $137.86.

Phillips 66 Stock Performance

Shares of Phillips 66 stock opened at $124.88 on Tuesday. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $150.12. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The firm has a market capitalization of $50.88 billion, a P/E ratio of 25.28, a P/E/G ratio of 4.84 and a beta of 1.01. The company’s 50 day moving average price is $111.57 and its two-hundred day moving average price is $119.23.

Phillips 66 (NYSE:PSX) last issued its earnings results on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.97). The company had revenue of $31.92 billion during the quarter, compared to analyst estimates of $31.93 billion. Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same quarter in the prior year, the business earned $1.90 EPS. On average, equities analysts forecast that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 3.84%. The ex-dividend date is Monday, May 19th. This is a positive change from Phillips 66’s previous quarterly dividend of $1.15. Phillips 66’s dividend payout ratio is 109.34%.

Institutional Trading of Phillips 66

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Bogart Wealth LLC increased its holdings in shares of Phillips 66 by 120.0% in the 4th quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company’s stock worth $25,000 after buying an additional 120 shares during the last quarter. J.Safra Asset Management Corp purchased a new stake in Phillips 66 during the 4th quarter valued at $25,000. Pacific Center for Financial Services purchased a new stake in Phillips 66 during the 4th quarter valued at $27,000. von Borstel & Associates Inc. purchased a new stake in Phillips 66 during the 1st quarter valued at $27,000. Finally, Stephens Consulting LLC boosted its position in Phillips 66 by 83.5% during the 4th quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company’s stock valued at $28,000 after buying an additional 111 shares during the period. 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.