Phillips 66 (NYSE:PSX) Stock Price Expected to Rise, UBS Group Analyst Says

Key Points

• Phillips 66 has seen its price target raised by UBS Group from $143.00 to $150.00, reflecting a potential upside of 14.5% based on its current stock price.
• Several analysts have provided mixed ratings, with 1 Strong Buy, 8 Buy, and 11 Hold ratings, indicating a consensus of "Moderate Buy" and an average price target of $139.38.
• Phillips 66 reported earnings of $2.38 per share for the last quarter, surpassing estimates by $0.59, and its revenue reached $33.77 billion, exceeding the consensus expectation of $32.11 billion.

Phillips 66 (NYSE:PSX - Free Report) had its price target increased by UBS Group from $143.00 to $150.00 in a research report released on Monday,Benzinga reports. They currently have a buy rating on the oil and gas company's stock.

A number of other research analysts also recently issued reports on the stock. Morgan Stanley boosted their price target on shares of Phillips 66 from $122.00 to $128.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. Wells Fargo & Company cut their price target on shares of Phillips 66 from $149.00 to $147.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 11th. Evercore ISI increased their price target on Phillips 66 from $130.00 to $170.00 and gave the stock an "outperform" rating in a report on Friday. Jefferies Financial Group upped their target price on Phillips 66 from $130.00 to $133.00 and gave the company a "hold" rating in a research report on Monday, September 15th. Finally, JPMorgan Chase & Co. set a $115.00 target price on Phillips 66 in a report on Wednesday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eleven have issued a Hold rating to the company's stock. According to data from MarketBeat, Phillips 66 has a consensus rating of "Moderate Buy" and a consensus target price of $139.38.

Phillips 66 Trading Up 0.1%

PSX traded up $0.14 during midday trading on Monday, hitting $129.86. 3,361,899 shares of the company were exchanged, compared to its average volume of 2,462,234. The firm's 50 day moving average price is $127.06 and its 200-day moving average price is $119.78. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $140.60. The firm has a market capitalization of $52.48 billion, a P/E ratio of 31.22, a P/E/G ratio of 1.86 and a beta of 1.15. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.60.

Phillips 66 (NYSE:PSX - Get Free Report) last issued its quarterly earnings data on Friday, July 25th. The oil and gas company reported $2.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.79 by $0.59. Phillips 66 had a return on equity of 4.87% and a net margin of 1.27%.The company had revenue of $33.77 billion during the quarter, compared to the consensus estimate of $32.11 billion. During the same period last year, the company earned $2.31 earnings per share. As a group, equities analysts forecast that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 19th were paid a dividend of $1.20 per share. The ex-dividend date was Tuesday, August 19th. This represents a $4.80 dividend on an annualized basis and a yield of 3.7%. Phillips 66's payout ratio is 115.38%.

Insider Buying and Selling

In related news, Director Michael A. Heim bought 1,000 shares of the business's stock in a transaction that occurred on Wednesday, July 30th. The shares were bought at an average price of $125.97 per share, with a total value of $125,970.00. Following the completion of the transaction, the director directly owned 12,043 shares in the company, valued at approximately $1,517,056.71. This represents a 9.06% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the company's stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $135.00, for a total value of $593,055.00. Following the sale, the executive vice president owned 38,980 shares of the company's stock, valued at $5,262,300. This trade represents a 10.13% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders bought 9,850 shares of company stock valued at $1,188,910. 0.22% of the stock is owned by company insiders.

Institutional Investors Weigh In On Phillips 66

A number of institutional investors have recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its holdings in Phillips 66 by 238.5% during the fourth quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company's stock worth $1,166,000 after acquiring an additional 7,214 shares during the period. Two Sigma Investments LP purchased a new stake in shares of Phillips 66 during the 4th quarter valued at $3,423,000. Mackenzie Financial Corp increased its position in shares of Phillips 66 by 14.1% during the 4th quarter. Mackenzie Financial Corp now owns 42,439 shares of the oil and gas company's stock valued at $4,835,000 after purchasing an additional 5,233 shares during the last quarter. Putney Financial Group LLC bought a new stake in shares of Phillips 66 during the 4th quarter worth $77,000. Finally, Great Valley Advisor Group Inc. boosted its holdings in shares of Phillips 66 by 1.3% in the 4th quarter. Great Valley Advisor Group Inc. now owns 15,695 shares of the oil and gas company's stock worth $1,788,000 after buying an additional 196 shares during the last quarter. 76.93% of the stock is owned by institutional investors.

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.