Phillips 66 (NYSE:PSX) Receives Consensus Rating of “Moderate Buy” from Analysts

Phillips 66 (NYSE:PSX) has received an average rating of “Moderate Buy” from the fifteen brokerages that are currently covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $149.69.

PSX has been the topic of a number of recent analyst reports. Raymond James increased their price objective on shares of Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. cut their price target on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 2nd. Scotiabank decreased their price target on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Morgan Stanley dropped their price objective on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. Finally, Bank of America started coverage on Phillips 66 in a report on Thursday, October 17th. They issued a “buy” rating and a $156.00 price target for the company.

Phillips 66 Trading Up 0.7 %

PSX opened at $134.25 on Wednesday. The business has a fifty day moving average price of $130.52 and a 200 day moving average price of $135.09. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. Phillips 66 has a 12 month low of $117.32 and a 12 month high of $174.08. The stock has a market capitalization of $55.44 billion, a price-to-earnings ratio of 17.23, a PEG ratio of 4.40 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.41. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The business had revenue of $36.16 billion during the quarter, compared to the consensus estimate of $36.31 billion. During the same period in the previous year, the company posted $4.63 earnings per share. The business’s revenue for the quarter was down 10.3% on a year-over-year basis. Sell-side analysts expect that Phillips 66 will post 7.57 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be given a $1.15 dividend. The ex-dividend date is Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a yield of 3.43%. Phillips 66’s payout ratio is currently 59.05%.

Hedge Funds Weigh In On Phillips 66

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Crewe Advisors LLC acquired a new stake in Phillips 66 in the 1st quarter valued at about $25,000. nVerses Capital LLC purchased a new position in shares of Phillips 66 during the 3rd quarter worth approximately $26,000. Bank & Trust Co acquired a new position in shares of Phillips 66 during the 2nd quarter worth approximately $31,000. Values First Advisors Inc. purchased a new stake in Phillips 66 in the 3rd quarter valued at approximately $30,000. Finally, Opal Wealth Advisors LLC acquired a new stake in Phillips 66 during the 2nd quarter valued at $34,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

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.