Phillips 66 (NYSE:PSX) PT Lowered to $136.00

Phillips 66 (NYSE:PSX) had its price objective trimmed by Piper Sandler from $151.00 to $136.00 in a report issued on Friday, Benzinga reports. The firm currently has an overweight rating on the oil and gas company’s stock.

Other equities research analysts have also recently issued reports about the stock. Morgan Stanley cut their price objective on shares of Phillips 66 from $150.00 to $144.00 and set an equal weight rating for the company in a research report on Monday, September 16th. TD Cowen cut their price objective on Phillips 66 from $162.00 to $150.00 and set a buy rating for the company in a research report on Wednesday, September 11th. Argus reiterated a buy rating and set a $167.00 price target on shares of Phillips 66 in a research report on Thursday, May 30th. Scotiabank lowered their price objective on shares of Phillips 66 from $156.00 to $145.00 and set a sector outperform rating for the company in a research report on Friday, July 12th. Finally, Raymond James upped their price target on Phillips 66 from $150.00 to $155.00 and gave the stock an outperform rating in a research note on Wednesday, July 31st. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $154.21.

Phillips 66 Stock Up 0.9 %

Phillips 66 stock opened at $131.11 on Friday. The business’s 50-day simple moving average is $135.02 and its two-hundred day simple moving average is $143.52. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.79 and a current ratio of 1.14. The company has a market cap of $55.58 billion, a PE ratio of 10.09, a PEG ratio of 4.67 and a beta of 1.33. Phillips 66 has a fifty-two week low of $107.85 and a fifty-two week high of $174.08.

Phillips 66 (NYSE:PSX) last posted its earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 EPS for the quarter, topping the consensus estimate of $1.98 by $0.33. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The firm had revenue of $38.91 billion for the quarter, compared to analyst estimates of $37.79 billion. During the same period last year, the company earned $3.87 earnings per share. Phillips 66’s revenue for the quarter was up 8.9% compared to the same quarter last year. Equities analysts anticipate that Phillips 66 will post 9.1 EPS for the current year.

Phillips 66 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th were given a dividend of $1.15 per share. The ex-dividend date was Tuesday, August 20th. This represents a $4.60 dividend on an annualized basis and a yield of 3.51%. Phillips 66’s payout ratio is 35.38%.

Insider Buying and Selling

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $139.01, for a total value of $4,170,300.00. Following the completion of the transaction, the chief financial officer now directly owns 81,937 shares of the company’s stock, valued at $11,390,062.37. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.22% of the company’s stock.

Institutional Investors Weigh In On Phillips 66

Several hedge funds have recently modified their holdings of PSX. Madison Park Capital Advisors LLC increased its holdings in shares of Phillips 66 by 3.0% during the 1st quarter. Madison Park Capital Advisors LLC now owns 2,346 shares of the oil and gas company’s stock worth $383,000 after buying an additional 68 shares during the last quarter. Warwick Investment Management Inc. increased its holdings in Phillips 66 by 3.1% during the 4th quarter. Warwick Investment Management Inc. now owns 2,395 shares of the oil and gas company’s stock worth $319,000 after purchasing an additional 73 shares during the last quarter. MV Capital Management Inc. increased its holdings in Phillips 66 by 9.6% during the 1st quarter. MV Capital Management Inc. now owns 837 shares of the oil and gas company’s stock worth $137,000 after purchasing an additional 73 shares during the last quarter. HCR Wealth Advisors increased its stake in shares of Phillips 66 by 2.9% in the fourth quarter. HCR Wealth Advisors now owns 2,640 shares of the oil and gas company’s stock worth $351,000 after buying an additional 74 shares during the last quarter. Finally, Mitchell & Pahl Private Wealth LLC increased its stake in shares of Phillips 66 by 0.4% in the second quarter. Mitchell & Pahl Private Wealth LLC now owns 17,847 shares of the oil and gas company’s stock worth $2,519,000 after buying an additional 74 shares during the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

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.