Barclays Raises Phillips 66 (NYSE:PSX) Price Target to $155.00

Phillips 66 (NYSE:PSX) had its target price upped by Barclays from $139.00 to $155.00 in a research report report published on Thursday morning, Benzinga reports. They currently have an equal weight rating on the oil and gas company’s stock.

A number of other research analysts have also weighed in on the stock. Scotiabank lifted their price objective on shares of Phillips 66 from $148.00 to $156.00 and gave the company a sector outperform rating in a research note on Thursday, April 11th. The Goldman Sachs Group increased their price objective on Phillips 66 from $152.00 to $174.00 and gave the stock a buy rating in a report on Friday, March 22nd. Raymond James lifted their target price on Phillips 66 from $140.00 to $155.00 and gave the company an outperform rating in a report on Thursday, February 1st. StockNews.com raised shares of Phillips 66 from a hold rating to a buy rating in a report on Saturday, February 10th. Finally, Wells Fargo & Company raised their price objective on shares of Phillips 66 from $179.00 to $191.00 and gave the company an overweight rating in a research report on Monday, April 8th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Phillips 66 presently has a consensus rating of Moderate Buy and a consensus price target of $158.00.

Phillips 66 Trading Up 0.9 %

NYSE:PSX opened at $154.71 on Thursday. The firm’s 50 day moving average is $154.40 and its 200 day moving average is $135.45. Phillips 66 has a 12 month low of $89.74 and a 12 month high of $174.08. The stock has a market capitalization of $66.19 billion, a PE ratio of 10.00, a price-to-earnings-growth ratio of 1.90 and a beta of 1.37. The company has a current ratio of 1.26, a quick ratio of 1.02 and a debt-to-equity ratio of 0.56.

Phillips 66 (NYSE:PSX) last issued its earnings results on Wednesday, January 31st. The oil and gas company reported $3.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.37 by $0.72. The firm had revenue of $38.74 billion for the quarter, compared to analyst estimates of $34.30 billion. Phillips 66 had a return on equity of 22.10% and a net margin of 4.68%. Sell-side analysts expect that Phillips 66 will post 13.45 earnings per share for the current year.

Phillips 66 Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be given a $1.15 dividend. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend is Friday, May 17th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.97%. Phillips 66’s payout ratio is presently 27.15%.

Insider Transactions at Phillips 66

In related news, VP Joseph Scott Pruitt sold 5,922 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $157.40, for a total transaction of $932,122.80. Following the transaction, the vice president now owns 6,583 shares in the company, valued at approximately $1,036,164.20. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, VP Joseph Scott Pruitt sold 5,922 shares of Phillips 66 stock in a transaction on Monday, March 18th. The shares were sold at an average price of $157.40, for a total value of $932,122.80. Following the sale, the vice president now owns 6,583 shares in the company, valued at $1,036,164.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Richard G. Harbison sold 21,934 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the completion of the transaction, the executive vice president now owns 24,941 shares of the company’s stock, valued at $3,648,120.07. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,056 shares of company stock worth $5,272,681. Company insiders own 0.22% of the company’s stock.

Institutional Trading of Phillips 66

Large investors have recently bought and sold shares of the company. Madison Park Capital Advisors LLC grew its stake in Phillips 66 by 3.0% in the first quarter. Madison Park Capital Advisors LLC now owns 2,346 shares of the oil and gas company’s stock worth $383,000 after purchasing an additional 68 shares during the period. Warwick Investment Management Inc. grew its position in shares of Phillips 66 by 3.1% in the 4th quarter. Warwick Investment Management Inc. now owns 2,395 shares of the oil and gas company’s stock worth $319,000 after buying an additional 73 shares during the period. MV Capital Management Inc. grew its position in shares of Phillips 66 by 9.6% in the 1st quarter. MV Capital Management Inc. now owns 837 shares of the oil and gas company’s stock worth $137,000 after buying an additional 73 shares during the period. HCR Wealth Advisors increased its stake in shares of Phillips 66 by 2.9% in the 4th quarter. HCR Wealth Advisors now owns 2,640 shares of the oil and gas company’s stock worth $351,000 after acquiring an additional 74 shares in the last quarter. Finally, Nvwm LLC boosted its stake in Phillips 66 by 0.9% during the fourth quarter. Nvwm LLC now owns 8,286 shares of the oil and gas company’s stock worth $1,103,000 after acquiring an additional 75 shares in the last quarter. 76.93% of the stock is owned by 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.