Bank of America Boosts Phillips 66 (NYSE:PSX) Price Target to $180.00

Phillips 66 (NYSE:PSX) had its price objective lifted by Bank of America from $150.00 to $180.00 in a research note released on Friday morning, Benzinga reports. The brokerage currently has a neutral rating on the oil and gas company’s stock.

A number of other research firms have also weighed in on PSX. StockNews.com upgraded shares of Phillips 66 from a hold rating to a buy rating in a report on Saturday, February 10th. TD Cowen increased their price objective on shares of Phillips 66 from $134.00 to $150.00 and gave the company an outperform rating in a research note on Monday, December 4th. Raymond James increased their price objective on shares of Phillips 66 from $140.00 to $155.00 and gave the company an outperform rating in a research note on Thursday, February 1st. Barclays increased their price objective on shares of Phillips 66 from $132.00 to $139.00 and gave the company an equal weight rating in a research note on Monday, February 5th. Finally, Citigroup assumed coverage on shares of Phillips 66 in a research note on Wednesday, January 24th. They issued a buy rating for the company. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $141.00.

Phillips 66 Stock Down 1.4 %

Shares of PSX stock traded down $2.25 on Friday, reaching $156.78. 3,469,812 shares of the company were exchanged, compared to its average volume of 3,289,702. The company has a market cap of $67.07 billion, a price-to-earnings ratio of 10.13, a PEG ratio of 2.00 and a beta of 1.36. The company has a 50-day moving average of $142.47 and a 200-day moving average of $128.46. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.26 and a quick ratio of 1.02. Phillips 66 has a one year low of $89.74 and a one year high of $159.74.

Phillips 66 (NYSE:PSX) last posted its earnings results on Wednesday, January 31st. The oil and gas company reported $3.09 earnings per share for the quarter, topping analysts’ consensus estimates of $2.37 by $0.72. Phillips 66 had a net margin of 4.68% and a return on equity of 22.10%. The company had revenue of $38.74 billion for the quarter, compared to analyst estimates of $34.30 billion. Analysts anticipate that Phillips 66 will post 12.9 earnings per share for the current year.

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Tuesday, February 20th were given a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date of this dividend was Friday, February 16th. Phillips 66’s payout ratio is presently 27.15%.

Insider Buying and Selling

In related news, EVP Vanessa Allen Sutherland sold 3,700 shares of Phillips 66 stock in a transaction on Thursday, December 28th. The shares were sold at an average price of $133.18, for a total value of $492,766.00. Following the transaction, the executive vice president now owns 47,567 shares in the company, valued at approximately $6,334,973.06. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Phillips 66 news, EVP Vanessa Allen Sutherland sold 3,700 shares of the business’s stock in a transaction dated Thursday, December 28th. The shares were sold at an average price of $133.18, for a total value of $492,766.00. Following the transaction, the executive vice president now owns 47,567 shares in the company, valued at $6,334,973.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert W. Pease acquired 682 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was purchased at an average price of $146.58 per share, for a total transaction of $99,967.56. Following the transaction, the director now directly owns 1,900 shares of the company’s stock, valued at approximately $278,502. The disclosure for this purchase can be found here. Insiders have sold a total of 31,887 shares of company stock worth $4,543,437 in the last 90 days. 4.57% of the stock is owned by company insiders.

Institutional Investors Weigh In On Phillips 66

Large investors have recently modified their holdings of the stock. First Capital Advisors Group LLC. bought a new stake in shares of Phillips 66 during the 2nd quarter valued at about $25,000. Ables Iannone Moore & Associates Inc. bought a new stake in shares of Phillips 66 during the 4th quarter valued at about $27,000. Main Street Group LTD bought a new stake in shares of Phillips 66 during the 4th quarter valued at about $28,000. WFA of San Diego LLC bought a new stake in shares of Phillips 66 during the 2nd quarter valued at about $30,000. Finally, First United Bank & Trust bought a new stake in shares of Phillips 66 during the 4th quarter valued at about $31,000. Institutional investors own 71.83% of the company’s stock.

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.