Phillips 66 (NYSE:PSX) Price Target Raised to $138.00 at Barclays

Phillips 66 (NYSE:PSX) had its price target hoisted by Barclays from $136.00 to $138.00 in a research note issued to investors on Monday morning, Benzinga reports. Barclays currently has an equal weight rating on the oil and gas company’s stock.

Several other brokerages have also issued reports on PSX. JPMorgan Chase & Co. lowered their price target on shares of Phillips 66 from $165.00 to $162.00 and set an overweight rating on the stock in a research note on Tuesday, July 2nd. Argus reiterated a buy rating and issued a $167.00 price target on shares of Phillips 66 in a research note on Thursday, May 30th. Mizuho lowered their price target on shares of Phillips 66 from $162.00 to $160.00 and set a neutral rating on the stock in a research note on Thursday, June 20th. TD Cowen lifted their price target on shares of Phillips 66 from $155.00 to $162.00 and gave the company a buy rating in a research note on Wednesday, July 31st. Finally, Raymond James lifted 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. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $157.38.

Phillips 66 Trading Up 1.1 %

PSX traded up $1.44 during mid-day trading on Monday, hitting $133.08. The stock had a trading volume of 2,075,219 shares, compared to its average volume of 2,680,317. Phillips 66 has a 1-year low of $107.85 and a 1-year high of $174.08. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 0.82. The stock’s fifty day simple moving average is $138.75 and its 200-day simple moving average is $145.99. The firm has a market capitalization of $56.42 billion, a price-to-earnings ratio of 10.31, a price-to-earnings-growth ratio of 2.50 and a beta of 1.34.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.33. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The business had revenue of $38.91 billion for the quarter, compared to analyst estimates of $37.79 billion. During the same period last year, the business posted $3.87 earnings per share. The firm’s quarterly revenue was up 8.9% on a year-over-year basis. As a group, research analysts forecast that Phillips 66 will post 9.4 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th will be given a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 3.46%. The ex-dividend date is Tuesday, August 20th. Phillips 66’s payout ratio is presently 35.38%.

Insider Activity

In other news, EVP Timothy D. Roberts sold 37,742 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $145.80, for a total value of $5,502,783.60. Following the completion of the transaction, the executive vice president now directly owns 48,365 shares in the company, valued at approximately $7,051,617. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.22% of the company’s stock.

Hedge Funds Weigh In On Phillips 66

A number of institutional investors have recently added to or reduced their stakes in the stock. Duality Advisers LP bought a new stake in Phillips 66 during the 1st quarter worth approximately $3,596,000. Daiwa Securities Group Inc. boosted its stake in shares of Phillips 66 by 27.7% in the 4th quarter. Daiwa Securities Group Inc. now owns 48,601 shares of the oil and gas company’s stock valued at $6,470,000 after purchasing an additional 10,536 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Phillips 66 by 42.3% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 133,736 shares of the oil and gas company’s stock valued at $21,844,000 after purchasing an additional 39,775 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its stake in shares of Phillips 66 by 14.3% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 289,395 shares of the oil and gas company’s stock valued at $38,530,000 after purchasing an additional 36,116 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its stake in shares of Phillips 66 by 69.8% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 37,802 shares of the oil and gas company’s stock valued at $6,175,000 after purchasing an additional 15,542 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

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.