Phillips 66 (NYSE:PSX) PT Lowered to $147.00 at Barclays

Phillips 66 (NYSE:PSX) had its target price reduced by Barclays from $155.00 to $147.00 in a research note issued to investors on Tuesday morning, Benzinga reports. They currently have an equal weight rating on the oil and gas company’s stock.

A number of other analysts also recently issued reports on the company. Raymond James lifted their target price on Phillips 66 from $140.00 to $155.00 and gave the company an outperform rating in a research report on Thursday, February 1st. StockNews.com downgraded Phillips 66 from a buy rating to a hold rating in a research report on Saturday, April 27th. Bank of America boosted their price target on Phillips 66 from $150.00 to $180.00 and gave the stock a neutral rating in a research report on Friday, March 15th. Mizuho lowered their price target on Phillips 66 from $167.00 to $162.00 and set a neutral rating on the stock in a research report on Friday, April 12th. Finally, Wells Fargo & Company upped their target price on Phillips 66 from $179.00 to $191.00 and gave the company an overweight rating in a research report on Monday, April 8th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, Phillips 66 presently has a consensus rating of Moderate Buy and an average price target of $157.43.

Phillips 66 Stock Down 0.2 %

Shares of Phillips 66 stock traded down $0.26 during trading on Tuesday, reaching $143.61. The stock had a trading volume of 1,804,654 shares, compared to its average volume of 2,957,052. The company has a market capitalization of $60.88 billion, a price-to-earnings ratio of 11.05, a P/E/G ratio of 1.77 and a beta of 1.41. The stock has a fifty day moving average price of $155.62 and a two-hundred day moving average price of $137.81. Phillips 66 has a 52 week low of $89.74 and a 52 week high of $174.08. The company has a current ratio of 1.17, a quick ratio of 1.02 and a debt-to-equity ratio of 0.58.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results 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). The firm had revenue of $36.44 billion during the quarter, compared to the consensus estimate of $35.87 billion. Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. During the same quarter last year, the firm earned $4.21 earnings per share. Sell-side analysts predict that Phillips 66 will post 13.17 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 3.20%. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date is Friday, May 17th. Phillips 66’s dividend payout ratio is presently 32.31%.

Insiders Place Their Bets

In other Phillips 66 news, VP Joseph Scott Pruitt sold 7,200 shares of the stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $157.26, for a total transaction of $1,132,272.00. Following the completion of the sale, the vice president now directly owns 6,583 shares in the company, valued at approximately $1,035,242.58. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Phillips 66 news, EVP Richard G. Harbison sold 21,934 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the completion of the sale, the executive vice president now directly owns 24,941 shares in the company, valued at approximately $3,648,120.07. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Joseph Scott Pruitt sold 7,200 shares of the stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $157.26, for a total value of $1,132,272.00. Following the sale, the vice president now owns 6,583 shares of the company’s stock, valued at $1,035,242.58. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,056 shares of company stock worth $5,272,681. Company insiders own 0.22% of the company’s stock.

Hedge Funds Weigh In On Phillips 66

A number of institutional investors and hedge funds have recently made changes to their positions in PSX. Ables Iannone Moore & Associates Inc. bought a new position in shares of Phillips 66 during the 4th quarter worth about $27,000. Redmont Wealth Advisors LLC bought a new position in shares of Phillips 66 during the 1st quarter worth about $28,000. First United Bank & Trust bought a new position in shares of Phillips 66 during the 4th quarter worth about $31,000. Cornerstone Planning Group LLC lifted its position in Phillips 66 by 134.8% in the 3rd quarter. Cornerstone Planning Group LLC now owns 263 shares of the oil and gas company’s stock valued at $32,000 after acquiring an additional 151 shares in the last quarter. Finally, Signature Resources Capital Management LLC bought a new position in Phillips 66 in the 4th quarter valued at about $33,000. 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.