Phillips 66 (NYSE:PSX) Price Target Increased to $191.00 by Analysts at Wells Fargo & Company

Phillips 66 (NYSE:PSX - Free Report) had its target price upped by Wells Fargo & Company from $179.00 to $191.00 in a research note issued to investors on Monday, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the oil and gas company's stock.

Several other research firms have also weighed in on PSX. Bank of America raised their price objective on shares of Phillips 66 from $150.00 to $180.00 and gave the company a neutral rating in a research report on Friday, March 15th. Barclays raised their price objective on shares of Phillips 66 from $132.00 to $139.00 and gave the company an equal weight rating in a research report on Monday, February 5th. Piper Sandler raised their price objective on shares of Phillips 66 from $169.00 to $187.00 and gave the company an overweight rating in a research report on Friday. StockNews.com upgraded shares of Phillips 66 from a hold rating to a buy rating in a report on Saturday, February 10th. Finally, The Goldman Sachs Group raised their target price on shares of Phillips 66 from $152.00 to $174.00 and gave the stock a buy rating in a report on Friday, March 22nd. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $157.31.

Phillips 66 Price Performance

Phillips 66 stock traded down $2.15 during trading hours on Monday, hitting $168.60. 2,624,203 shares of the company traded hands, compared to its average volume of 3,137,992. The firm has a market cap of $72.13 billion, a P/E ratio of 10.90, a P/E/G ratio of 2.19 and a beta of 1.37. The company has a quick ratio of 1.02, a current ratio of 1.26 and a debt-to-equity ratio of 0.56. The firm's 50-day simple moving average is $151.75 and its two-hundred day simple moving average is $132.99. Phillips 66 has a 1-year low of $89.74 and a 1-year high of $174.08.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its quarterly earnings data on Wednesday, January 31st. The oil and gas company reported $3.09 earnings per share for the quarter, beating the consensus estimate of $2.37 by $0.72. Phillips 66 had a net margin of 4.68% and a return on equity of 22.10%. The company had revenue of $38.74 billion during the quarter, compared to analyst estimates of $34.30 billion. As a group, analysts forecast that Phillips 66 will post 13 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be issued a dividend of $1.15 per share. This is a boost from Phillips 66's previous quarterly dividend of $1.05. This represents a $4.60 annualized dividend and a dividend yield of 2.73%. The ex-dividend date is Friday, May 17th. Phillips 66's dividend payout ratio (DPR) is currently 29.73%.

Insider Buying and Selling

In related news, Director Robert W. Pease purchased 682 shares of the firm's stock in a transaction that occurred on Thursday, February 15th. The stock was acquired at an average cost of $146.58 per share, for a total transaction of $99,967.56. Following the completion of the acquisition, the director now owns 1,900 shares in the company, valued at approximately $278,502. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Phillips 66 news, Director Robert W. Pease bought 682 shares of Phillips 66 stock in a transaction on Thursday, February 15th. The stock was purchased at an average cost of $146.58 per share, for a total transaction of $99,967.56. Following the completion of the purchase, the director now directly owns 1,900 shares of the company's stock, valued at $278,502. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Richard G. Harbison sold 21,934 shares of Phillips 66 stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the completion of the sale, the executive vice president now owns 24,941 shares of the company's stock, valued at $3,648,120.07. The disclosure for this sale can be found here. Over the last three months, insiders sold 35,056 shares of company stock worth $5,272,681. 4.57% of the stock is owned by company insiders.

Institutional Trading of Phillips 66

Institutional investors have recently added to or reduced their stakes in the business. Ables Iannone Moore & Associates Inc. acquired a new stake in Phillips 66 in the fourth quarter valued at approximately $27,000. Main Street Group LTD acquired a new stake in shares of Phillips 66 in the fourth quarter worth $28,000. First United Bank & Trust acquired a new stake in shares of Phillips 66 in the fourth quarter worth $31,000. Signature Resources Capital Management LLC acquired a new stake in shares of Phillips 66 in the fourth quarter worth $33,000. Finally, Cornerstone Planning Group LLC lifted its stake in shares of Phillips 66 by 134.8% in the third quarter. Cornerstone Planning Group LLC now owns 263 shares of the oil and gas company's stock worth $32,000 after buying an additional 151 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

About Phillips 66

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.