Phillips 66 (NYSE:PSX) Price Target Raised to $145.00 at TD Cowen

Phillips 66 (NYSE:PSX) had its target price hoisted by TD Cowen from $140.00 to $145.00 in a research report report published on Thursday, Marketbeat Ratings reports. TD Cowen currently has a buy rating on the oil and gas company’s stock.

PSX has been the subject of a number of other reports. Jefferies Financial Group raised their target price on shares of Phillips 66 from $133.00 to $137.00 and gave the company a “hold” rating in a report on Friday, October 10th. Evercore ISI raised their price target on Phillips 66 from $130.00 to $170.00 and gave the stock an “outperform” rating in a research report on Friday, September 19th. Wall Street Zen upgraded Phillips 66 from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Scotiabank restated a “sector perform” rating and issued a $133.00 price target on shares of Phillips 66 in a research report on Friday, July 11th. Finally, Raymond James Financial restated an “outperform” rating and issued a $150.00 price target (up from $145.00) on shares of Phillips 66 in a research report on Friday, October 17th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $142.94.

Phillips 66 Trading Down 0.6%

PSX stock opened at $137.17 on Thursday. The firm has a fifty day moving average price of $132.54 and a 200 day moving average price of $123.00. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $142.35. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.79 and a current ratio of 1.07. The firm has a market cap of $55.43 billion, a PE ratio of 37.48, a price-to-earnings-growth ratio of 1.81 and a beta of 1.11.

Phillips 66 (NYSE:PSX) last posted its earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share for the quarter, beating analysts’ consensus estimates of $2.14 by $0.38. Phillips 66 had a net margin of 1.12% and a return on equity of 5.51%. The firm had revenue of $33.69 billion during the quarter, compared to analyst estimates of $32.29 billion. During the same period last year, the firm posted $2.04 earnings per share. Sell-side analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Monday, November 17th. Phillips 66’s dividend payout ratio (DPR) is 115.38%.

Insider Buying and Selling at Phillips 66

In other news, EVP Vanessa Allen Sutherland sold 4,393 shares of Phillips 66 stock in a transaction on Friday, September 26th. The stock was sold at an average price of $140.00, for a total transaction of $615,020.00. Following the completion of the sale, the executive vice president directly owned 34,587 shares in the company, valued at approximately $4,842,180. This trade represents a 11.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gregory Hayes bought 8,350 shares of the firm’s stock in a transaction dated Thursday, August 14th. The shares were acquired at an average price of $119.90 per share, with a total value of $1,001,165.00. Following the completion of the transaction, the director owned 29,423 shares of the company’s stock, valued at approximately $3,527,817.70. The trade was a 39.62% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.22% of the stock is currently owned by company insiders.

Institutional Trading of Phillips 66

Institutional investors and hedge funds have recently made changes to their positions in the business. Evolution Wealth Management Inc. bought a new stake in shares of Phillips 66 during the second quarter worth $25,000. Wolff Wiese Magana LLC raised its holdings in shares of Phillips 66 by 62.1% in the second quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock valued at $26,000 after acquiring an additional 82 shares in the last quarter. von Borstel & Associates Inc. bought a new stake in shares of Phillips 66 in the first quarter valued at about $27,000. Olde Wealth Management LLC bought a new stake in shares of Phillips 66 in the first quarter valued at about $28,000. Finally, Pinpoint Asset Management Ltd bought a new stake in shares of Phillips 66 in the first quarter valued at about $29,000. 76.93% of the stock is currently 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.