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

Phillips 66 (NYSE:PSX - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the seventeen brokerages that are presently covering the company, Marketbeat Ratings reports. Seven analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $133.93.

Several equities research analysts have recently issued reports on PSX shares. Tudor Pickering lowered Phillips 66 from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Mizuho increased their price target on shares of Phillips 66 from $132.00 to $138.00 and gave the company a "neutral" rating in a research report on Tuesday, May 13th. Compass Point started coverage on shares of Phillips 66 in a research report on Wednesday, June 18th. They issued a "buy" rating on the stock. Morgan Stanley dropped their target price on shares of Phillips 66 from $140.00 to $122.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. Finally, Evercore ISI began coverage on shares of Phillips 66 in a research note on Wednesday, June 18th. They set an "outperform" rating and a $130.00 price target for the company.

Insider Activity

In other news, Director Robert W. Pease bought 439 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The shares were acquired at an average price of $113.85 per share, with a total value of $49,980.15. Following the acquisition, the director owned 4,091 shares of the company's stock, valued at approximately $465,760.35. The trade was a 12.02% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Brian Mandell sold 9,800 shares of the stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $125.00, for a total transaction of $1,225,000.00. Following the completion of the sale, the executive vice president owned 56,838 shares in the company, valued at $7,104,750. This represents a 14.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.22% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Elliott Investment Management L.P. grew its position in Phillips 66 by 1,929.0% during the first quarter. Elliott Investment Management L.P. now owns 15,725,000 shares of the oil and gas company's stock worth $1,941,723,000 after buying an additional 14,950,000 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Phillips 66 by 283.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,026,649 shares of the oil and gas company's stock worth $686,618,000 after purchasing an additional 4,455,220 shares in the last quarter. Norges Bank bought a new position in shares of Phillips 66 in the fourth quarter worth approximately $497,648,000. Raymond James Financial Inc. purchased a new stake in Phillips 66 in the fourth quarter valued at approximately $168,790,000. Finally, Nuveen LLC purchased a new stake in Phillips 66 in the first quarter valued at approximately $156,482,000. Institutional investors own 76.93% of the company's stock.

Phillips 66 Trading Up 2.6%

Shares of PSX stock opened at $126.36 on Thursday. 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 company has a market capitalization of $51.48 billion, a price-to-earnings ratio of 28.78, a PEG ratio of 1.93 and a beta of 1.02. Phillips 66 has a 52-week low of $91.01 and a 52-week high of $150.12. The company has a 50-day simple moving average of $116.04 and a two-hundred day simple moving average of $116.90.

Phillips 66 (NYSE:PSX - Get Free Report) last announced 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 business had revenue of $31.92 billion during the quarter, compared to analysts' expectations of $31.93 billion. Phillips 66 had a return on equity of 4.83% and a net margin of 1.32%. During the same quarter in the previous year, the firm earned $1.90 EPS. Research analysts anticipate that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were paid a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.80%. This is a positive change from Phillips 66's previous quarterly dividend of $1.15. The ex-dividend date of this dividend was Monday, May 19th. Phillips 66's payout ratio is presently 109.34%.

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.

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