Phillips 66 (NYSE:PSX) Given Consensus Recommendation of “Moderate Buy” by Analysts

Phillips 66 (NYSE:PSX) has been given a consensus recommendation of “Moderate Buy” by the fourteen research firms that are covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $148.00.

PSX has been the subject of several research reports. Piper Sandler lowered shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Barclays cut their price target on shares of Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. StockNews.com raised Phillips 66 from a “sell” rating to a “hold” rating in a research note on Saturday, February 22nd. Wells Fargo & Company lifted their price target on Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Finally, Mizuho dropped their price objective on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a report on Monday, December 16th.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $127.39 on Friday. 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 fifty-two week low of $108.90 and a fifty-two week high of $174.08. The business has a 50 day moving average price of $120.21 and a two-hundred day moving average price of $126.90. The firm has a market cap of $51.94 billion, a PE ratio of 25.79, a price-to-earnings-growth ratio of 4.84 and a beta of 1.37.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Friday, January 31st. The oil and gas company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates 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 company earned $3.09 earnings per share. Sell-side analysts expect that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Monday, February 24th will be paid a $1.15 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $4.60 dividend on an annualized basis and a yield of 3.61%. Phillips 66’s payout ratio is presently 93.12%.

Institutional Investors Weigh In On Phillips 66

Hedge funds have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its position in shares of Phillips 66 by 283.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,026,649 shares of the oil and gas company’s stock worth $686,618,000 after purchasing an additional 4,455,220 shares during the last quarter. Norges Bank bought a new position in Phillips 66 in the 4th quarter worth approximately $497,648,000. Mizuho Securities USA LLC boosted 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 during the period. Raymond James Financial Inc. acquired a new position in Phillips 66 during the 4th quarter valued at $168,790,000. Finally, Capitolis Liquid Global Markets LLC acquired a new position in shares of Phillips 66 during the fourth quarter valued at about $142,185,000. 76.93% of the stock is currently owned by institutional investors.

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.