Shares of Phillips 66 (NYSE:PSX – Get Rating) have been assigned a consensus rating of “Moderate Buy” from the eighteen research firms that are currently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $104.47.
Several equities research analysts have recently weighed in on the company. StockNews.com upgraded Phillips 66 from a “hold” rating to a “buy” rating in a research report on Thursday, May 5th. BMO Capital Markets assumed coverage on Phillips 66 in a report on Monday, June 13th. They set an “outperform” rating and a $132.00 price objective for the company. Citigroup assumed coverage on Phillips 66 in a research note on Tuesday, April 26th. They issued a “neutral” rating and a $89.00 target price for the company. JPMorgan Chase & Co. raised their target price on Phillips 66 from $102.00 to $112.00 in a research note on Tuesday, May 17th. Finally, Piper Sandler raised their target price on Phillips 66 from $119.00 to $120.00 and gave the stock an “overweight” rating in a research note on Monday, May 23rd.
In other Phillips 66 news, EVP Robert A. Herman sold 47,200 shares of the stock in a transaction on Tuesday, May 31st. The stock was sold at an average price of $102.82, for a total value of $4,853,104.00. Following the completion of the transaction, the executive vice president now owns 64,106 shares in the company, valued at $6,591,378.92. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Greg C. Garland sold 146,700 shares of the stock in a transaction on Thursday, June 9th. The stock was sold at an average price of $109.70, for a total value of $16,092,990.00. Following the completion of the transaction, the chief executive officer now owns 656,563 shares of the company’s stock, valued at approximately $72,024,961.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 297,700 shares of company stock valued at $32,327,782. 0.74% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. JW Cole Advisors Inc. grew its stake in shares of Phillips 66 by 41.6% in the first quarter. JW Cole Advisors Inc. now owns 8,347 shares of the oil and gas company’s stock worth $721,000 after acquiring an additional 2,454 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Phillips 66 by 1.2% in the first quarter. Bank of America Corp DE now owns 6,592,821 shares of the oil and gas company’s stock worth $569,553,000 after acquiring an additional 80,265 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Phillips 66 by 61.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 63,813 shares of the oil and gas company’s stock worth $5,513,000 after acquiring an additional 24,371 shares during the last quarter. Kestra Private Wealth Services LLC boosted its position in shares of Phillips 66 by 42.5% during the first quarter. Kestra Private Wealth Services LLC now owns 23,963 shares of the oil and gas company’s stock valued at $2,070,000 after buying an additional 7,143 shares during the last quarter. Finally, Gradient Investments LLC boosted its position in shares of Phillips 66 by 20.4% during the first quarter. Gradient Investments LLC now owns 2,385 shares of the oil and gas company’s stock valued at $206,000 after buying an additional 404 shares during the last quarter. Institutional investors and hedge funds own 64.28% of the company’s stock.
Shares of Phillips 66 stock opened at $84.37 on Wednesday. Phillips 66 has a 52-week low of $63.19 and a 52-week high of $111.28. The stock’s 50-day simple moving average is $94.70 and its 200-day simple moving average is $86.80. The stock has a market capitalization of $40.59 billion, a P/E ratio of 14.70, a P/E/G ratio of 0.60 and a beta of 1.39. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.87 and a current ratio of 1.13.
Phillips 66 (NYSE:PSX – Get Rating) last announced its quarterly earnings data on Friday, April 29th. The oil and gas company reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.18. Phillips 66 had a return on equity of 17.07% and a net margin of 1.97%. The business had revenue of $36.72 billion for the quarter, compared to analysts’ expectations of $34.86 billion. During the same period in the previous year, the business posted ($1.16) EPS. Equities research analysts forecast that Phillips 66 will post 12.19 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 1st. Investors of record on Monday, May 23rd were issued a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a dividend yield of 4.60%. The ex-dividend date was Friday, May 20th. This is an increase from Phillips 66’s previous quarterly dividend of $0.92. Phillips 66’s dividend payout ratio is currently 67.60%.
About Phillips 66: (Get Rating)
Phillips 66 operates as an energy manufacturing and logistics company. 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.
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