Phillips 66 (NYSE:PSX) Given New $130.00 Price Target at Cowen

Phillips 66 (NYSE:PSX) had its target price raised by Cowen from $125.00 to $130.00 in a report published on Thursday, Briefing.com Automated Import reports. Cowen currently has an outperform rating on the oil and gas company’s stock.

A number of other research analysts also recently commented on PSX. ValuEngine downgraded shares of Phillips 66 from a hold rating to a sell rating in a report on Friday, October 25th. Evercore ISI started coverage on shares of Phillips 66 in a report on Wednesday, October 2nd. They issued an outperform rating for the company. Wells Fargo & Co increased their price target on shares of Phillips 66 from $130.00 to $132.00 and gave the company an outperform rating in a report on Wednesday, September 25th. Raymond James increased their price target on shares of Phillips 66 from $117.00 to $120.00 and gave the company an outperform rating in a report on Tuesday, October 8th. Finally, Macquarie initiated coverage on shares of Phillips 66 in a research report on Thursday, September 5th. They issued an outperform rating on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $118.80.

Shares of NYSE:PSX traded up $0.13 during trading on Thursday, reaching $119.70. The company’s stock had a trading volume of 1,556,669 shares, compared to its average volume of 2,631,109. The company has a current ratio of 1.29, a quick ratio of 0.84 and a debt-to-equity ratio of 0.41. Phillips 66 has a 12 month low of $78.44 and a 12 month high of $119.92. The firm’s 50 day simple moving average is $108.48 and its two-hundred day simple moving average is $97.69. The stock has a market capitalization of $52.84 billion, a PE ratio of 10.22, a price-to-earnings-growth ratio of 2.11 and a beta of 1.10.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Friday, October 25th. The oil and gas company reported $3.11 EPS for the quarter, beating the Zacks’ consensus estimate of $2.60 by $0.51. Phillips 66 had a net margin of 4.17% and a return on equity of 19.31%. The firm had revenue of $27.77 billion during the quarter, compared to the consensus estimate of $28.31 billion. During the same quarter last year, the firm earned $3.10 EPS. Research analysts anticipate that Phillips 66 will post 8.65 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date is Friday, November 15th. Phillips 66’s dividend payout ratio (DPR) is currently 30.74%.

In related news, EVP Robert A. Herman sold 47,433 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $103.17, for a total value of $4,893,662.61. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.13% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. Advisors Preferred LLC purchased a new position in shares of Phillips 66 during the second quarter worth approximately $25,000. TRUE Private Wealth Advisors purchased a new position in shares of Phillips 66 during the second quarter worth approximately $26,000. Atwater Malick LLC purchased a new position in shares of Phillips 66 during the third quarter worth approximately $27,000. Manchester Financial Inc. purchased a new position in shares of Phillips 66 during the second quarter worth approximately $32,000. Finally, Coastal Capital Group Inc. purchased a new position in shares of Phillips 66 during the second quarter worth approximately $37,000. 69.33% of the stock is currently owned by institutional investors.

About Phillips 66

Phillips 66 operates as an energy manufacturing and logistics company. 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 products to market; provides terminaling and storage services for crude oil and 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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