Phillips 66 (PSX) Receives $92.55 Consensus Price Target from Brokerages

Phillips 66 (NYSE:PSX) has received an average recommendation of “Hold” from the nineteen ratings firms that are currently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $92.55.

A number of research analysts have weighed in on PSX shares. Piper Jaffray Companies reissued a “buy” rating and issued a $98.00 target price on shares of Phillips 66 in a report on Tuesday, September 26th. Zacks Investment Research raised Phillips 66 from a “hold” rating to a “buy” rating and set a $105.00 target price on the stock in a report on Tuesday, October 10th. Goldman Sachs Group, Inc. (The) raised Phillips 66 from a “neutral” rating to a “buy” rating and increased their target price for the company from $88.00 to $109.00 in a report on Tuesday, October 3rd. Argus reissued a “buy” rating and issued a $108.00 target price (up previously from $96.00) on shares of Phillips 66 in a report on Thursday, October 12th. Finally, Vetr raised Phillips 66 from a “hold” rating to a “buy” rating and set a $97.16 target price on the stock in a report on Monday, October 16th.

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In related news, VP Chukwuemeka A. Oyolu sold 1,151 shares of Phillips 66 stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $89.08, for a total transaction of $102,531.08. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.50% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of PSX. Waldron LP grew its holdings in Phillips 66 by 14.5% during the 1st quarter. Waldron LP now owns 3,151 shares of the oil and gas company’s stock valued at $251,000 after buying an additional 399 shares in the last quarter. Founders Capital Management purchased a new position in Phillips 66 during the 1st quarter valued at approximately $514,000. Independent Advisor Alliance grew its holdings in Phillips 66 by 5.2% during the 1st quarter. Independent Advisor Alliance now owns 3,534 shares of the oil and gas company’s stock valued at $274,000 after buying an additional 174 shares in the last quarter. Savant Capital LLC grew its holdings in Phillips 66 by 3.8% during the 1st quarter. Savant Capital LLC now owns 6,598 shares of the oil and gas company’s stock valued at $523,000 after buying an additional 240 shares in the last quarter. Finally, Shufro Rose & Co. LLC grew its holdings in Phillips 66 by 12.6% during the 1st quarter. Shufro Rose & Co. LLC now owns 2,983 shares of the oil and gas company’s stock valued at $236,000 after buying an additional 333 shares in the last quarter. 69.58% of the stock is currently owned by institutional investors.

Phillips 66 (PSX) traded up $0.12 during mid-day trading on Thursday, reaching $93.58. The company’s stock had a trading volume of 1,860,905 shares, compared to its average volume of 1,886,653. Phillips 66 has a 52 week low of $75.14 and a 52 week high of $95.00. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.93 and a current ratio of 1.31. The company has a market capitalization of $47,867.20, a P/E ratio of 26.97, a price-to-earnings-growth ratio of 2.43 and a beta of 1.20.

Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, October 27th. The oil and gas company reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.04. Phillips 66 had a return on equity of 7.58% and a net margin of 2.11%. The company had revenue of $26.21 billion for the quarter, compared to the consensus estimate of $29.94 billion. During the same quarter in the prior year, the company earned $1.05 earnings per share. sell-side analysts anticipate that Phillips 66 will post 4.54 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Tuesday, October 17th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.99%. The ex-dividend date is Thursday, November 16th. Phillips 66’s dividend payout ratio (DPR) is presently 70.18%.

Phillips 66 announced that its Board of Directors has initiated a stock repurchase plan on Monday, October 9th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the oil and gas company to reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.

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.

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