Phillips 66 (NYSE:PSX) Given New $162.00 Price Target at TD Cowen

Phillips 66 (NYSE:PSX) had its price objective hoisted by TD Cowen from $155.00 to $162.00 in a research note released on Wednesday, MarketBeat.com reports. TD Cowen currently has a buy rating on the oil and gas company’s stock.

A number of other equities research analysts also recently weighed in on the stock. Piper Sandler dropped their price target on shares of Phillips 66 from $170.00 to $151.00 and set an overweight rating for the company in a research report on Friday, June 14th. StockNews.com downgraded Phillips 66 from a buy rating to a hold rating in a research report on Monday, May 6th. Barclays decreased their price target on Phillips 66 from $142.00 to $136.00 and set an equal weight rating on the stock in a research report on Tuesday, July 9th. Wolfe Research initiated coverage on shares of Phillips 66 in a research report on Thursday, July 18th. They set a peer perform rating for the company. Finally, Argus reissued a buy rating and issued a $167.00 target price on shares of Phillips 66 in a report on Thursday, May 30th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $157.23.

Phillips 66 Stock Down 5.1 %

PSX stock opened at $133.76 on Wednesday. Phillips 66 has a fifty-two week low of $107.41 and a fifty-two week high of $174.08. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 0.82. The stock has a market capitalization of $55.99 billion, a price-to-earnings ratio of 10.29, a PEG ratio of 2.50 and a beta of 1.34. The business’s fifty day moving average price is $138.97 and its two-hundred day moving average price is $145.84.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 EPS for the quarter, beating the consensus estimate of $1.98 by $0.33. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The business had revenue of $38.91 billion for the quarter, compared to the consensus estimate of $37.79 billion. During the same period in the prior year, the company posted $3.87 earnings per share. Phillips 66’s revenue was up 8.9% compared to the same quarter last year. On average, equities analysts anticipate that Phillips 66 will post 9.4 earnings per share for the current year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th will be issued a dividend of $1.15 per share. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $4.60 annualized dividend and a dividend yield of 3.44%. Phillips 66’s dividend payout ratio (DPR) is presently 35.38%.

Insider Activity

In other Phillips 66 news, EVP Timothy D. Roberts sold 37,742 shares of the company’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $145.80, for a total value of $5,502,783.60. Following the completion of the transaction, the executive vice president now owns 48,365 shares of the company’s stock, valued at approximately $7,051,617. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.22% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Phillips 66

A number of institutional investors have recently added to or reduced their stakes in PSX. DekaBank Deutsche Girozentrale raised its position in Phillips 66 by 12.4% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 201,592 shares of the oil and gas company’s stock worth $26,501,000 after purchasing an additional 22,278 shares during the last quarter. TIAA Trust National Association raised its position in shares of Phillips 66 by 32.9% during the fourth quarter. TIAA Trust National Association now owns 14,816 shares of the oil and gas company’s stock worth $1,973,000 after acquiring an additional 3,670 shares during the last quarter. Duality Advisers LP bought a new stake in Phillips 66 in the first quarter valued at approximately $3,596,000. Daiwa Securities Group Inc. increased its position in Phillips 66 by 27.7% during the 4th quarter. Daiwa Securities Group Inc. now owns 48,601 shares of the oil and gas company’s stock valued at $6,470,000 after purchasing an additional 10,536 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in Phillips 66 by 42.3% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 133,736 shares of the oil and gas company’s stock worth $21,844,000 after purchasing an additional 39,775 shares during 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.