Phillips 66 (NYSE:PSX) had its price objective lifted by Argus to $133.00 in a research report report published on Thursday morning, Marketbeat.com reports. Argus currently has a buy rating on the oil and gas company’s stock.
A number of other research firms have also weighed in on PSX. ValuEngine upgraded shares of Phillips 66 from a hold rating to a buy rating in a research report on Thursday, April 12th. Credit Suisse Group reiterated a neutral rating and issued a $110.00 price objective on shares of Phillips 66 in a research report on Wednesday, March 7th. Cowen reiterated an outperform rating and issued a $137.00 price objective (up from $125.00) on shares of Phillips 66 in a research report on Wednesday, February 14th. Citigroup lifted their price objective on shares of Phillips 66 from $92.00 to $94.00 and gave the company a neutral rating in a research report on Tuesday, March 13th. Finally, Deutsche Bank lowered their price objective on shares of Phillips 66 from $106.00 to $102.00 and set a hold rating on the stock in a research report on Monday, March 19th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $106.19.
Shares of Phillips 66 opened at $120.33 on Thursday, according to Marketbeat.com. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.80 and a current ratio of 1.31. The company has a market cap of $56.05 billion, a PE ratio of 27.47, a price-to-earnings-growth ratio of 1.99 and a beta of 1.07. Phillips 66 has a 12-month low of $75.85 and a 12-month high of $122.38.
Phillips 66 (NYSE:PSX) last announced its earnings results on Friday, April 27th. The oil and gas company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.13. The business had revenue of $24.05 billion for the quarter, compared to analyst estimates of $29.23 billion. Phillips 66 had a net margin of 4.85% and a return on equity of 10.00%. During the same period last year, the firm posted $0.56 earnings per share. analysts anticipate that Phillips 66 will post 7.19 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 1st. Shareholders of record on Monday, May 21st will be issued a $0.80 dividend. The ex-dividend date of this dividend is Friday, May 18th. This represents a $3.20 dividend on an annualized basis and a yield of 2.66%. This is an increase from Phillips 66’s previous quarterly dividend of $0.70. Phillips 66’s dividend payout ratio (DPR) is 63.93%.
In other Phillips 66 news, VP Chukwuemeka A. Oyolu sold 6,900 shares of the firm’s stock in a transaction on Thursday, May 17th. The stock was sold at an average price of $120.00, for a total value of $828,000.00. Following the completion of the sale, the vice president now owns 8,177 shares of the company’s stock, valued at $981,240. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.56% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the business. Atria Investments LLC raised its stake in shares of Phillips 66 by 23.9% during the 4th quarter. Atria Investments LLC now owns 2,919 shares of the oil and gas company’s stock worth $295,000 after buying an additional 564 shares during the last quarter. Spirit of America Management Corp NY raised its stake in shares of Phillips 66 by 2.0% during the 4th quarter. Spirit of America Management Corp NY now owns 78,187 shares of the oil and gas company’s stock worth $7,909,000 after buying an additional 1,500 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in shares of Phillips 66 by 3.2% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 22,243 shares of the oil and gas company’s stock worth $2,250,000 after buying an additional 680 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of Phillips 66 by 2.8% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 2,020,978 shares of the oil and gas company’s stock worth $204,422,000 after buying an additional 54,755 shares during the last quarter. Finally, Berkshire Asset Management LLC PA raised its stake in shares of Phillips 66 by 32.6% during the 4th quarter. Berkshire Asset Management LLC PA now owns 5,856 shares of the oil and gas company’s stock worth $592,000 after buying an additional 1,439 shares during the last quarter. 77.73% of the stock is owned by institutional investors.
Phillips 66 Company Profile
Phillips 66 operates as an energy manufacturing and logistics company. 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 products to market, and provides terminaling and storage services for crude oil and petroleum products; transports, stores, fractionates, and markets natural gas liquids, exports LPG, and provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.
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