Phillips 66 (NYSE:PSX) Receives Average Recommendation of "Moderate Buy" from Brokerages

Shares of Phillips 66 (NYSE:PSX - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the fourteen brokerages that are presently covering the company, Marketbeat reports. Five research analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is $137.86.

A number of research analysts have recently issued reports on the company. StockNews.com raised Phillips 66 from a "sell" rating to a "hold" rating in a research note on Monday, April 28th. Barclays raised their price objective on Phillips 66 from $106.00 to $115.00 and gave the company an "equal weight" rating in a research note on Monday. Wells Fargo & Company dropped their target price on shares of Phillips 66 from $162.00 to $149.00 and set an "overweight" rating for the company in a report on Monday, April 28th. The Goldman Sachs Group lowered shares of Phillips 66 from a "buy" rating to a "neutral" rating and set a $132.00 target price for the company. in a report on Thursday, March 27th. Finally, UBS Group dropped their target price on shares of Phillips 66 from $144.00 to $140.00 and set a "buy" rating for the company in a report on Monday, April 28th.

Hedge Funds Weigh In On Phillips 66

A number of hedge funds have recently added to or reduced their stakes in PSX. Czech National Bank raised its stake in Phillips 66 by 5.0% during the 4th quarter. Czech National Bank now owns 89,493 shares of the oil and gas company's stock valued at $10,196,000 after buying an additional 4,227 shares during the last quarter. Fiduciary Alliance LLC purchased a new stake in Phillips 66 during the 4th quarter valued at $861,000. Capital Investment Advisors LLC raised its stake in Phillips 66 by 41.3% during the 4th quarter. Capital Investment Advisors LLC now owns 4,145 shares of the oil and gas company's stock valued at $472,000 after buying an additional 1,211 shares during the last quarter. Wedmont Private Capital raised its stake in Phillips 66 by 14.1% during the 4th quarter. Wedmont Private Capital now owns 6,856 shares of the oil and gas company's stock valued at $781,000 after buying an additional 847 shares during the last quarter. Finally, Miracle Mile Advisors LLC raised its stake in Phillips 66 by 56.1% during the 4th quarter. Miracle Mile Advisors LLC now owns 33,802 shares of the oil and gas company's stock valued at $3,851,000 after buying an additional 12,147 shares during the last quarter. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Phillips 66 Stock Up 5.8%

PSX opened at $125.62 on Wednesday. The stock has a market cap of $51.18 billion, a PE ratio of 25.43, a P/E/G ratio of 4.84 and a beta of 1.01. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. Phillips 66 has a 52 week low of $91.01 and a 52 week high of $150.12. The business's fifty day simple moving average is $111.64 and its 200 day simple moving average is $119.22.

Phillips 66 (NYSE:PSX - Get Free Report) last released its earnings results on Friday, April 25th. The oil and gas company reported ($0.90) EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.97). Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. The firm had revenue of $31.92 billion during the quarter, compared to the consensus estimate of $31.93 billion. During the same period in the prior year, the company earned $1.90 EPS. As a group, research analysts expect that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The company 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 $1.20 dividend. This is a positive change from Phillips 66's previous quarterly dividend of $1.15. This represents a $4.80 dividend on an annualized basis and a yield of 3.82%. The ex-dividend date of this dividend is Monday, May 19th. Phillips 66's payout ratio is presently 109.34%.

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.

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