The price of Phillips 66 (NYSE:PSX) shares last traded on Wall Street fell -0.91% to $109.48.
Based on available information, 19 analysts follow Phillips 66 (NYSE:PSX). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $144.00 and a low of $115.00, we find $133.00. Given the previous closing price of $110.49, this indicates a potential upside of 20.37 percent. PSX stock price is now -5.55% away from the 50-day moving average and 5.40% away from the 200-day moving average. The market capitalization of the company currently stands at $48.75B.
Among analysts, 9 rate the stock a hold while 9 rate it a buy. Brokers who have rated the stock have averaged $131.32 as their price target over the next twelve months.
With the price target enhanced from $132 to $141, BofA Securities Downgraded its rating from Buy to Neutral for Phillips 66 (NYSE: PSX).
In other news, Roberts Timothy D., Executive Vice President sold 12,970 shares of the company’s stock on Sep 12. The stock was sold for $1,613,598 at an average price of $124.41. Upon completion of the transaction, the Executive Vice President now directly owns 80,009 shares in the company, valued at $8.76 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 08, Exec. VP and CFO Mitchell Kevin J sold 30,800 shares of the business’s stock. A total of $3,725,968 was realized by selling the stock at an average price of $120.97. This leaves the insider owning 103,803 shares of the company worth $11.36 million. Insiders disposed of 353,649 shares of company stock worth roughly $38.72 million over the past 1 year. A total of 0.28% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in PSX stock. A new stake in Phillips 66 shares was purchased by ELLIOTT INVESTMENT MANAGEMENT L.P. during the first quarter worth $84,847,000. ALYESKA INVESTMENT GROUP, L.P. invested $34,629,000 in shares of PSX during the first quarter. In the first quarter, EA SERIES TRUST acquired a new stake in Phillips 66 valued at approximately $16,469,000. MANNING & NAPIER GROUP, LLC acquired a new stake in PSX for approximately $13,269,000. JUPITER ASSET MANAGEMENT LTD purchased a new stake in PSX valued at around $12,820,000 in the second quarter.
A candlestick chart of Phillips 66 (NYSE: PSX) showed a price of $108.78 on Thursday morning. During the past 12 months, Phillips 66 has had a low of $88.64 and a high of $125.19. As of last week, the company has a debt-to-equity ratio of 0.66, a current ratio of 1.33, and a quick ratio of 0.90. The fifty day moving average price for PSX is $115.91 and a two-hundred day moving average price translates $103.91 for the stock.
The latest earnings results from Phillips 66 (NYSE: PSX) was released for Jun, 2023. According to the Oil & Gas Refining & Marketing Company, earnings per share came in at $3.87, beating analysts’ expectations of $3.56 by 0.31. This compares to $6.53 EPS in the same period last year. The net profit margin was 7.09% and return on equity was 40.32% for PSX. The company reported revenue of $35.09 billion for the quarter, compared to $48.58 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -27.76 percent. For the current quarter, analysts expect PSX to generate $38.97B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 09/01/2023. Investors who held shares on 08/18/2023 were paid a $1.05 dividend. On an annualized basis, this represents a $4.17 dividend and a 3.81% percent yield. There was an ex-dividend date of 08/17/2023 for this dividend. In terms of dividend payout ratio, PSX is presently at 16.46%.
