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

Phillips 66 (NYSE:PSX - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the fifteen analysts that are currently covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $149.23.

Several analysts have recently issued reports on the stock. Mizuho decreased their target price on shares of Phillips 66 from $154.00 to $150.00 and set a "neutral" rating on the stock in a research report on Monday, September 16th. Barclays lowered their price target on Phillips 66 from $133.00 to $124.00 and set an "equal weight" rating for the company in a research report on Monday, November 11th. Piper Sandler set a $144.00 target price on shares of Phillips 66 in a research note on Thursday, October 17th. Morgan Stanley lowered their target price on shares of Phillips 66 from $150.00 to $144.00 and set an "equal weight" rating for the company in a report on Monday, September 16th. Finally, Scotiabank cut their price target on shares of Phillips 66 from $145.00 to $136.00 and set a "sector outperform" rating on the stock in a report on Thursday, October 10th.

Phillips 66 Price Performance

Phillips 66 stock traded down $1.27 during midday trading on Friday, reaching $122.72. 1,825,767 shares of the stock traded hands, compared to its average volume of 2,496,239. 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 12 month low of $119.77 and a 12 month high of $174.08. The stock's fifty day moving average is $129.86 and its 200-day moving average is $133.81. The stock has a market cap of $50.68 billion, a P/E ratio of 15.75, a PEG ratio of 4.06 and a beta of 1.35.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, beating analysts' consensus estimates of $1.63 by $0.41. The firm had revenue of $36.16 billion during the quarter, compared to analyst estimates of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. Phillips 66's revenue for the quarter was down 10.3% compared to the same quarter last year. During the same period last year, the firm posted $4.63 earnings per share. As a group, equities research analysts anticipate that Phillips 66 will post 7.56 EPS for the current year.

Phillips 66 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 18th were given a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 3.75%. The ex-dividend date was Monday, November 18th. Phillips 66's payout ratio is currently 59.05%.

Institutional Trading of Phillips 66

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its stake in shares of Phillips 66 by 5.0% in the second quarter. Bank of New York Mellon Corp now owns 8,422,720 shares of the oil and gas company's stock worth $1,189,035,000 after purchasing an additional 402,925 shares during the last quarter. Legal & General Group Plc lifted its stake in Phillips 66 by 0.5% during the 2nd quarter. Legal & General Group Plc now owns 3,699,370 shares of the oil and gas company's stock valued at $522,240,000 after acquiring an additional 18,238 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Phillips 66 by 3.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,643,264 shares of the oil and gas company's stock valued at $514,253,000 after acquiring an additional 111,261 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Phillips 66 by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,901,887 shares of the oil and gas company's stock worth $381,453,000 after acquiring an additional 16,941 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC increased its stake in shares of Phillips 66 by 2.9% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,813,579 shares of the oil and gas company's stock worth $397,193,000 after acquiring an additional 79,301 shares during the period. 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.