Phillips 66 (NYSE:PSX) Price Target Raised to $127.00 at Barclays

Phillips 66 (NYSE:PSX) had its target price boosted by Barclays from $115.00 to $127.00 in a report issued on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the oil and gas company’s stock.

Other analysts have also issued research reports about the stock. UBS Group reduced their price target 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. TD Cowen boosted their target price on Phillips 66 from $114.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday, May 13th. Evercore ISI assumed coverage on Phillips 66 in a research report on Wednesday, June 18th. They issued an “outperform” rating and a $130.00 target price on the stock. The Goldman Sachs Group lowered Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 target price on the stock. in a research report on Thursday, March 27th. Finally, Mizuho boosted their target price on Phillips 66 from $132.00 to $138.00 and gave the company a “neutral” rating in a research report on Tuesday, May 13th. Eight equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $134.79.

Phillips 66 Stock Up 0.6%

PSX stock opened at $130.74 on Wednesday. The firm has a market cap of $53.27 billion, a PE ratio of 29.78, a PEG ratio of 2.04 and a beta of 1.02. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.88 and a current ratio of 1.23. The firm’s 50 day moving average price is $118.36 and its 200-day moving average price is $117.43. Phillips 66 has a one year low of $91.01 and a one year high of $150.12.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Friday, April 25th. The oil and gas company reported ($0.90) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.97). The firm had revenue of $31.92 billion for the quarter, compared to analysts’ expectations of $31.93 billion. Phillips 66 had a net margin of 1.32% and a return on equity of 4.83%. During the same period in the previous year, the firm posted $1.90 EPS. On average, equities research analysts anticipate that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were given a dividend of $1.20 per share. The ex-dividend date was Monday, May 19th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.67%. This is a positive change from Phillips 66’s previous quarterly dividend of $1.15. Phillips 66’s dividend payout ratio is currently 109.34%.

Insider Transactions at Phillips 66

In other news, Director Robert W. Pease bought 439 shares of the stock in a transaction that occurred on Thursday, May 22nd. The stock was purchased at an average price of $113.85 per share, for a total transaction of $49,980.15. Following the completion of the purchase, the director owned 4,091 shares in the company, valued at approximately $465,760.35. This trade represents a 12.02% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the business’s stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $130.00, for a total transaction of $571,090.00. Following the transaction, the executive vice president owned 43,373 shares of the company’s stock, valued at approximately $5,638,490. The trade was a 9.20% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.22% of the company’s stock.

Hedge Funds Weigh In On Phillips 66

A number of institutional investors and hedge funds have recently modified their holdings of the company. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Phillips 66 by 22.5% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 60,286 shares of the oil and gas company’s stock worth $7,192,000 after purchasing an additional 11,060 shares in the last quarter. KMG Fiduciary Partners LLC grew its stake in shares of Phillips 66 by 4.9% during the second quarter. KMG Fiduciary Partners LLC now owns 20,369 shares of the oil and gas company’s stock worth $2,430,000 after purchasing an additional 953 shares in the last quarter. Signal Advisors Wealth LLC acquired a new position in shares of Phillips 66 during the second quarter worth $253,000. Sovran Advisors LLC acquired a new position in shares of Phillips 66 during the second quarter worth $324,000. Finally, Chickasaw Capital Management LLC grew its stake in shares of Phillips 66 by 2.4% during the second quarter. Chickasaw Capital Management LLC now owns 152,444 shares of the oil and gas company’s stock worth $18,187,000 after purchasing an additional 3,635 shares in the last quarter. Institutional investors and hedge funds 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.