Phillips 66 (NYSE:PSX) Shares Gap Up – Time to Buy?

Phillips 66 (NYSE:PSX)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $123.71, but opened at $130.00. Phillips 66 shares last traded at $128.57, with a volume of 735,230 shares changing hands.

Analyst Ratings Changes

A number of research firms have recently weighed in on PSX. Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective for the company in a research note on Friday, January 3rd. Mizuho dropped their price objective on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a report on Monday, December 16th. UBS Group lowered their price target on Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a report on Monday, November 4th. StockNews.com downgraded shares of Phillips 66 from a “hold” rating to a “sell” rating in a research report on Wednesday, February 5th. Finally, Bank of America assumed coverage on shares of Phillips 66 in a report on Thursday, October 17th. They issued a “buy” rating and a $156.00 price target for the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $148.00.

Phillips 66 Price Performance

The stock’s 50-day moving average is $118.83 and its 200 day moving average is $127.55. The stock has a market capitalization of $51.64 billion, a PE ratio of 25.31, a P/E/G ratio of 5.64 and a beta of 1.37. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21.

Phillips 66 (NYSE:PSX) last released its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($1.38). Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same period last year, the company posted $3.09 earnings per share. As a group, equities analysts expect that Phillips 66 will post 7.14 earnings per share for the current year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th will be paid a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 3.68%. Phillips 66’s dividend payout ratio is currently 93.12%.

Institutional Investors Weigh In On Phillips 66

Hedge funds and other institutional investors have recently modified their holdings of the stock. nVerses Capital LLC acquired a new position in Phillips 66 during the 3rd quarter valued at approximately $26,000. Bogart Wealth LLC boosted its position in Phillips 66 by 120.0% during the 4th quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 120 shares during the period. J.Safra Asset Management Corp acquired a new position in shares of Phillips 66 during the fourth quarter valued at $25,000. Values First Advisors Inc. bought a new position in Phillips 66 in the 3rd quarter valued at about $30,000. Finally, Stephens Consulting LLC increased its stake in Phillips 66 by 83.5% during the 4th quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company’s stock valued at $28,000 after buying an additional 111 shares during the period. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Company Profile

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.