Phillips 66 (NYSE:PSX) Price Target Raised to $167.00 at Mizuho

Phillips 66 (NYSE:PSXFree Report) had its price objective raised by Mizuho from $135.00 to $167.00 in a research report sent to investors on Friday morning, Benzinga reports. They currently have a neutral rating on the oil and gas company’s stock.

A number of other research analysts also recently weighed in on PSX. TD Cowen lifted their price target on Phillips 66 from $134.00 to $150.00 and gave the company an outperform rating in a report on Monday, December 4th. Citigroup started coverage on Phillips 66 in a report on Wednesday, January 24th. They set a buy rating on the stock. Bank of America lifted their price target on Phillips 66 from $150.00 to $180.00 and gave the company a neutral rating in a report on Friday, March 15th. Wells Fargo & Company lifted their price target on Phillips 66 from $163.00 to $179.00 and gave the company an overweight rating in a report on Wednesday. Finally, Raymond James boosted their target price on Phillips 66 from $140.00 to $155.00 and gave the company an outperform rating in a research note on Thursday, February 1st. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $148.69.

Check Out Our Latest Analysis on PSX

Phillips 66 Stock Performance

Shares of NYSE PSX opened at $159.46 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.26 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $68.22 billion, a price-to-earnings ratio of 10.31, a PEG ratio of 2.11 and a beta of 1.36. The stock’s fifty day simple moving average is $144.11 and its 200 day simple moving average is $129.16. Phillips 66 has a 52-week low of $89.74 and a 52-week high of $159.80.

Phillips 66 (NYSE:PSXGet Free Report) last issued its earnings results on Wednesday, January 31st. The oil and gas company reported $3.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.37 by $0.72. The business had revenue of $38.74 billion for the quarter, compared to analysts’ expectations of $34.30 billion. Phillips 66 had a return on equity of 22.10% and a net margin of 4.68%. As a group, sell-side analysts forecast that Phillips 66 will post 12.55 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Tuesday, February 20th were given a dividend of $1.05 per share. The ex-dividend date of this dividend was Friday, February 16th. This represents a $4.20 annualized dividend and a dividend yield of 2.63%. Phillips 66’s dividend payout ratio is presently 27.15%.

Insider Buying and Selling

In related news, VP Joseph Scott Pruitt sold 7,200 shares of the business’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $157.26, for a total transaction of $1,132,272.00. Following the transaction, the vice president now directly owns 6,583 shares in the company, valued at $1,035,242.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Phillips 66 news, Director Robert W. Pease purchased 682 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were acquired at an average cost of $146.58 per share, for a total transaction of $99,967.56. Following the transaction, the director now directly owns 1,900 shares in the company, valued at $278,502. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Joseph Scott Pruitt sold 7,200 shares of the company’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $157.26, for a total value of $1,132,272.00. Following the transaction, the vice president now directly owns 6,583 shares in the company, valued at approximately $1,035,242.58. The disclosure for this sale can be found here. In the last 90 days, insiders sold 44,009 shares of company stock valued at $6,474,602. Insiders own 4.57% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Livelsberger Financial Advisory acquired a new position in Phillips 66 during the 4th quarter worth $57,000. PNC Financial Services Group Inc. lifted its stake in shares of Phillips 66 by 6.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 834,504 shares of the oil and gas company’s stock valued at $111,106,000 after purchasing an additional 47,249 shares during the period. M3 Advisory Group LLC acquired a new position in shares of Phillips 66 in the 4th quarter valued at $262,000. Ables Iannone Moore & Associates Inc. acquired a new position in shares of Phillips 66 in the 4th quarter valued at $27,000. Finally, Leo Wealth LLC acquired a new position in shares of Phillips 66 in the 4th quarter valued at $233,000. Institutional investors and hedge funds own 71.83% of the company’s stock.

Phillips 66 Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Phillips 66 (NYSE:PSX)

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