Phillips 66 (NYSE:PSX) Price Target Raised to $115.00 at Barclays

Phillips 66 (NYSE:PSX - Free Report) had its target price lifted by Barclays from $106.00 to $115.00 in a report issued on Monday,Benzinga reports. They currently have an equal weight rating on the oil and gas company's stock.

A number of other research analysts have also commented on the stock. Scotiabank dropped their price objective on shares of Phillips 66 from $136.00 to $133.00 and set a "sector outperform" rating on the stock in a research note on Friday, April 11th. Morgan Stanley dropped their price target on Phillips 66 from $140.00 to $122.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 24th. JPMorgan Chase & Co. decreased their price objective on Phillips 66 from $138.00 to $131.00 and set an "overweight" rating for the company in a research report on Tuesday, April 29th. Raymond James dropped their target price on Phillips 66 from $150.00 to $140.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Finally, StockNews.com upgraded Phillips 66 from a "sell" rating to a "hold" rating in a research note on Monday, April 28th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $137.86.

Phillips 66 Stock Performance

Shares of PSX traded up $0.92 during midday trading on Monday, reaching $125.69. 3,242,816 shares of the stock were exchanged, compared to its average volume of 2,961,247. Phillips 66 has a twelve month low of $91.01 and a twelve month 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 company has a market capitalization of $51.21 billion, a price-to-earnings ratio of 25.44, a PEG ratio of 4.84 and a beta of 1.01. The business's 50-day moving average price is $111.61 and its 200 day moving average price is $119.23.

Phillips 66 (NYSE:PSX - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $31.92 billion during the quarter, compared to analysts' expectations 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 firm posted $1.90 EPS. On average, sell-side analysts expect 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 will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be issued a dividend of $1.20 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $4.80 dividend on an annualized basis and a yield of 3.82%. This is an increase from Phillips 66's previous quarterly dividend of $1.15. Phillips 66's payout ratio is currently 109.34%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Woodline Partners LP boosted its stake in shares of Phillips 66 by 40.7% during the 1st quarter. Woodline Partners LP now owns 34,891 shares of the oil and gas company's stock worth $4,308,000 after acquiring an additional 10,089 shares in the last quarter. MBB Public Markets I LLC purchased a new stake in Phillips 66 during the first quarter worth $305,000. RNC Capital Management LLC boosted its position in Phillips 66 by 0.5% during the first quarter. RNC Capital Management LLC now owns 334,871 shares of the oil and gas company's stock worth $41,350,000 after purchasing an additional 1,825 shares in the last quarter. Coppell Advisory Solutions LLC grew its holdings in Phillips 66 by 11,086.7% in the first quarter. Coppell Advisory Solutions LLC now owns 21,031 shares of the oil and gas company's stock valued at $2,597,000 after purchasing an additional 20,843 shares during the last quarter. Finally, United Services Automobile Association purchased a new position in shares of Phillips 66 in the first quarter valued at $1,182,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

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.