Citigroup Inc reiterated their neutral rating on shares of Phillips 66 (NYSE:PSX) in a report published on Saturday, April 22nd. They currently have a $83.00 price objective on the oil and gas company’s stock, down from their prior price objective of $84.00.
A number of other brokerages have also commented on PSX. Royal Bank of Canada restated a hold rating and issued a $87.00 target price on shares of Phillips 66 in a research note on Thursday, April 20th. Jefferies Group LLC set a $74.00 target price on Phillips 66 and gave the company a hold rating in a research note on Wednesday, April 19th. Scotiabank restated a hold rating and issued a $86.00 target price on shares of Phillips 66 in a research note on Monday, March 27th. Zacks Investment Research lowered Phillips 66 from a hold rating to a sell rating in a research note on Tuesday, February 7th. Finally, Barclays PLC cut their target price on Phillips 66 from $93.00 to $87.00 and set an equal weight rating for the company in a research note on Monday, February 6th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Phillips 66 currently has a consensus rating of Hold and a consensus price target of $83.88.
Phillips 66 (NYSE:PSX) traded up 0.90% during midday trading on Friday, hitting $78.25. 2,293,207 shares of the stock were exchanged. Phillips 66 has a 12-month low of $73.67 and a 12-month high of $88.87. The stock has a market cap of $40.38 billion, a price-to-earnings ratio of 24.28 and a beta of 1.33. The firm has a 50 day moving average of $78.16 and a 200-day moving average of $81.19.
Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Friday, April 28th. The oil and gas company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.53. Phillips 66 had a return on equity of 6.24% and a net margin of 1.81%. The company had revenue of $23.71 billion during the quarter, compared to analyst estimates of $22.30 billion. During the same period in the previous year, the company earned $0.67 earnings per share. On average, equities analysts expect that Phillips 66 will post $4.36 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 1st. Stockholders of record on Thursday, May 18th will be given a dividend of $0.70 per share. The ex-dividend date is Tuesday, May 16th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.58%. This is a positive change from Phillips 66’s previous quarterly dividend of $0.63. Phillips 66’s dividend payout ratio (DPR) is currently 86.30%.
Large investors have recently added to or reduced their stakes in the company. Welch & Forbes LLC raised its stake in Phillips 66 by 1.3% in the third quarter. Welch & Forbes LLC now owns 12,645 shares of the oil and gas company’s stock worth $1,019,000 after buying an additional 165 shares in the last quarter. Stratos Wealth Partners LTD. raised its stake in Phillips 66 by 8.6% in the third quarter. Stratos Wealth Partners LTD. now owns 17,617 shares of the oil and gas company’s stock worth $1,419,000 after buying an additional 1,397 shares in the last quarter. Advisors Asset Management Inc. raised its stake in Phillips 66 by 44.3% in the third quarter. Advisors Asset Management Inc. now owns 28,490 shares of the oil and gas company’s stock worth $2,295,000 after buying an additional 8,748 shares in the last quarter. OMERS ADMINISTRATION Corp acquired a new stake in Phillips 66 during the third quarter worth approximately $926,000. Finally, Raymond James Financial Services Advisors Inc. raised its stake in Phillips 66 by 5.8% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 269,750 shares of the oil and gas company’s stock worth $23,310,000 after buying an additional 14,733 shares in the last quarter. 69.07% of the stock is currently owned by institutional investors.
About Phillips 66
Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining, and marketing and specialties businesses. The Company operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment gathers, processes, transports and markets natural gas, and transports, stores, fractionates and markets natural gas liquids (NGLs) in the United States.
What are top analysts saying about Phillips 66? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Phillips 66 and related companies.