Phillips 66 (NYSE:PSX) Given Average Rating of "Moderate Buy" by Brokerages

Shares of Phillips 66 (NYSE:PSX - Get Free Report) have earned an average rating of "Moderate Buy" from the fifteen brokerages that are covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $148.57.

Several research firms have recently weighed in on PSX. Bank of America initiated coverage on Phillips 66 in a report on Thursday, October 17th. They issued a "buy" rating and a $156.00 price objective for the company. Scotiabank lowered their price objective on shares of Phillips 66 from $145.00 to $136.00 and set a "sector outperform" rating on the stock in a research report on Thursday, October 10th. UBS Group reduced their target price on shares of Phillips 66 from $150.00 to $138.00 and set a "buy" rating for the company in a report on Monday, November 4th. Wells Fargo & Company lowered their price target on Phillips 66 from $167.00 to $161.00 and set an "overweight" rating on the stock in a report on Monday, December 9th. Finally, Wolfe Research raised Phillips 66 from a "peer perform" rating to an "outperform" rating and set a $143.00 price objective for the company in a research note on Friday, January 3rd.

Phillips 66 Stock Up 0.9 %

Shares of NYSE PSX traded up $1.07 during mid-day trading on Thursday, reaching $116.26. The company had a trading volume of 3,036,865 shares, compared to its average volume of 2,494,413. The firm has a 50 day simple moving average of $123.22 and a two-hundred day simple moving average of $130.67. Phillips 66 has a 52-week low of $108.90 and a 52-week high of $174.08. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The stock has a market cap of $48.01 billion, a P/E ratio of 14.92, a PEG ratio of 4.06 and a beta of 1.38.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its earnings results 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. The business had revenue of $36.16 billion for the quarter, compared to analysts' expectations of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The business's revenue was down 10.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.63 earnings per share. Sell-side analysts predict that Phillips 66 will post 7.56 earnings per share for the current year.

Phillips 66 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 18th were issued a $1.15 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a yield of 3.96%. Phillips 66's dividend payout ratio (DPR) is presently 59.05%.

Institutional Investors Weigh In On Phillips 66

Several institutional investors have recently modified their holdings of the company. Van ECK Associates Corp raised its position in shares of Phillips 66 by 263.3% during the 3rd quarter. Van ECK Associates Corp now owns 83,278 shares of the oil and gas company's stock worth $10,753,000 after purchasing an additional 60,355 shares during the last quarter. Everence Capital Management Inc. acquired a new position in shares of Phillips 66 in the fourth quarter worth $3,033,000. Mizuho Securities USA LLC lifted its position in shares of Phillips 66 by 7,549.0% in the third quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company's stock valued at $328,625,000 after acquiring an additional 2,467,316 shares in the last quarter. Nwam LLC purchased a new stake in shares of Phillips 66 in the third quarter valued at $498,000. Finally, Principal Financial Group Inc. boosted its stake in shares of Phillips 66 by 2.8% during the third quarter. Principal Financial Group Inc. now owns 530,807 shares of the oil and gas company's stock valued at $69,775,000 after acquiring an additional 14,209 shares during the last quarter. Hedge funds and other institutional investors 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.