Phillips 66 (NYSE:PSX - Free Report) had its price objective raised by Piper Sandler from $131.00 to $148.00 in a research note released on Thursday,Benzinga reports. Piper Sandler currently has a neutral rating on the oil and gas company's stock.
Several other brokerages have also issued reports on PSX. Scotiabank decreased their price target on shares of Phillips 66 from $136.00 to $133.00 and set a "sector outperform" rating for the company in a research note on Friday, April 11th. Morgan Stanley decreased their target price on Phillips 66 from $140.00 to $122.00 and set an "equal weight" rating for the company in a research report on Thursday, April 24th. The Goldman Sachs Group cut Phillips 66 from a "buy" rating to a "neutral" rating and set a $132.00 price target on the stock. in a research report on Thursday, March 27th. Wall Street Zen upgraded Phillips 66 from a "sell" rating to a "hold" rating in a research note on Monday, April 28th. Finally, Tudor Pickering cut Phillips 66 from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Nine investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $135.07.
Read Our Latest Research Report on Phillips 66
Phillips 66 Stock Performance
Shares of Phillips 66 stock traded down $2.73 during trading hours on Thursday, hitting $131.66. 1,263,989 shares of the company's stock traded hands, compared to its average volume of 3,114,488. The stock has a market capitalization of $53.64 billion, a price-to-earnings ratio of 29.99, a PEG ratio of 2.06 and a beta of 1.02. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $150.12. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.23 and a quick ratio of 0.88. The company has a fifty day simple moving average of $118.98 and a 200-day simple moving average of $117.59.
Phillips 66 (NYSE:PSX - Get Free Report) last posted its quarterly earnings results on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.97). The company had revenue of $31.92 billion for the quarter, compared to the consensus estimate of $31.93 billion. Phillips 66 had a net margin of 1.32% and a return on equity of 4.83%. During the same quarter in the previous year, the company posted $1.90 EPS. Equities research analysts anticipate that Phillips 66 will post 6.8 EPS for the current fiscal year.
Phillips 66 Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 19th will be issued a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 3.65%. The ex-dividend date is Tuesday, August 19th. Phillips 66's payout ratio is 109.34%.
Insider Activity
In other Phillips 66 news, Director Robert W. Pease acquired 439 shares of the stock in a transaction that occurred on Thursday, May 22nd. The shares were bought at an average price of $113.85 per share, for a total transaction of $49,980.15. Following the completion of the transaction, the director owned 4,091 shares of the company's stock, valued at approximately $465,760.35. This represents a 12.02% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the business's stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $130.00, for a total value of $571,090.00. Following the transaction, the executive vice president owned 43,373 shares of the company's stock, valued at approximately $5,638,490. The trade was a 9.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.22% of the company's stock.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the stock. Brighton Jones LLC lifted its holdings in shares of Phillips 66 by 238.5% during the 4th 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 last quarter. Assetmark Inc. raised its position in Phillips 66 by 12.3% during the fourth quarter. Assetmark Inc. now owns 3,024 shares of the oil and gas company's stock valued at $345,000 after purchasing an additional 332 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in Phillips 66 during the fourth quarter worth about $16,771,000. AlphaQuest LLC lifted its stake in Phillips 66 by 29.5% during the fourth quarter. AlphaQuest LLC now owns 4,208 shares of the oil and gas company's stock worth $479,000 after purchasing an additional 959 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Phillips 66 by 2.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 88,085 shares of the oil and gas company's stock worth $10,036,000 after purchasing an additional 2,477 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors.
Phillips 66 Company Profile
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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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