Barclays Lowers Phillips 66 (NYSE:PSX) Price Target to $136.00

Phillips 66 (NYSE:PSX) had its price objective lowered by Barclays from $142.00 to $136.00 in a report published on Tuesday, Benzinga reports. The brokerage currently has an equal weight rating on the oil and gas company’s stock.

A number of other equities analysts also recently commented on the company. Wells Fargo & Company increased their price objective on Phillips 66 from $179.00 to $191.00 and gave the stock an overweight rating in a report on Monday, April 8th. The Goldman Sachs Group increased their price target on Phillips 66 from $152.00 to $174.00 and gave the company a buy rating in a report on Friday, March 22nd. Argus reiterated a buy rating and set a $167.00 price target on shares of Phillips 66 in a report on Thursday, May 30th. Piper Sandler lowered their price target on Phillips 66 from $170.00 to $151.00 and set an overweight rating on the stock in a report on Friday, June 14th. Finally, TD Cowen lowered their price target on Phillips 66 from $164.00 to $155.00 and set a buy rating on the stock in a report on Friday, June 21st. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Phillips 66 has an average rating of Moderate Buy and a consensus target price of $155.86.

Phillips 66 Trading Up 1.3 %

NYSE:PSX opened at $138.64 on Tuesday. The stock’s 50 day moving average price is $140.40 and its 200 day moving average price is $145.02. Phillips 66 has a 52 week low of $98.65 and a 52 week high of $174.08. The company has a market capitalization of $58.78 billion, a P/E ratio of 10.66, a P/E/G ratio of 2.18 and a beta of 1.34. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.82 and a current ratio of 1.17.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.90 EPS for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. The firm had revenue of $36.44 billion during the quarter, compared to analyst estimates of $35.87 billion. During the same quarter in the prior year, the company posted $4.21 EPS. On average, research analysts forecast that Phillips 66 will post 10.47 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th will be given a $1.15 dividend. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $4.60 annualized dividend and a yield of 3.32%. Phillips 66’s dividend payout ratio (DPR) is currently 35.38%.

Insider Buying and Selling

In related news, EVP Timothy D. Roberts sold 37,742 shares of the firm’s stock in a transaction on 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 directly owns 48,365 shares of the company’s stock, valued at $7,051,617. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.22% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Madison Park Capital Advisors LLC lifted its holdings in shares of Phillips 66 by 3.0% during the first quarter. Madison Park Capital Advisors LLC now owns 2,346 shares of the oil and gas company’s stock valued at $383,000 after acquiring an additional 68 shares during the period. Premier Path Wealth Partners LLC lifted its holdings in shares of Phillips 66 by 1.6% during the first quarter. Premier Path Wealth Partners LLC now owns 4,464 shares of the oil and gas company’s stock valued at $729,000 after acquiring an additional 71 shares during the period. Warwick Investment Management Inc. lifted its holdings in shares of Phillips 66 by 3.1% during the fourth quarter. Warwick Investment Management Inc. now owns 2,395 shares of the oil and gas company’s stock valued at $319,000 after acquiring an additional 73 shares during the period. MV Capital Management Inc. lifted its holdings in shares of Phillips 66 by 9.6% during the first quarter. MV Capital Management Inc. now owns 837 shares of the oil and gas company’s stock valued at $137,000 after acquiring an additional 73 shares during the period. Finally, HCR Wealth Advisors lifted its holdings in shares of Phillips 66 by 2.9% during the fourth quarter. HCR Wealth Advisors now owns 2,640 shares of the oil and gas company’s stock valued at $351,000 after acquiring an additional 74 shares during the period. 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.