Phillips 66 (NYSE:PSX) Price Target Raised to $135.00 at Barclays

Phillips 66 (NYSE:PSX) had its target price upped by Barclays from $115.00 to $135.00 in a research report sent to investors on Friday,Benzinga reports. They currently have an equal weight rating on the oil and gas company’s stock.

Other analysts also recently issued reports about the company. Piper Sandler downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Mizuho reduced their target price on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a report on Monday, December 16th. Wells Fargo & Company boosted their target price on Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price for the company in a report on Friday, January 3rd. Finally, StockNews.com downgraded Phillips 66 from a “hold” rating to a “sell” rating in a report on Sunday, March 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $149.43.

Phillips 66 Trading Up 3.5 %

PSX opened at $126.84 on Friday. The business has a fifty day moving average price of $122.82 and a 200 day moving average price of $126.03. The stock has a market capitalization of $51.71 billion, a price-to-earnings ratio of 25.68, a PEG ratio of 4.84 and a beta of 1.31. Phillips 66 has a 12 month low of $108.91 and a 12 month high of $174.08. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($1.38). Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. During the same period last year, the firm earned $3.09 EPS. Sell-side analysts expect that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were paid a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date was Monday, February 24th. Phillips 66’s dividend payout ratio (DPR) is 93.12%.

Hedge Funds Weigh In On Phillips 66

A number of large investors have recently modified their holdings of PSX. Bogart Wealth LLC raised its stake in shares of Phillips 66 by 120.0% during the 4th quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company’s stock worth $25,000 after buying an additional 120 shares in the last quarter. J.Safra Asset Management Corp purchased a new position in shares of Phillips 66 during the 4th quarter worth approximately $25,000. Pacific Center for Financial Services acquired a new stake in shares of Phillips 66 in the 4th quarter worth approximately $27,000. Stephens Consulting LLC grew its holdings in shares of Phillips 66 by 83.5% in the 4th quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company’s stock worth $28,000 after acquiring an additional 111 shares during the period. Finally, Graney & King LLC acquired a new stake in shares of Phillips 66 in the 4th quarter worth approximately $28,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

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.