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

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

Other equities analysts also recently issued research reports about the company. Raymond James dropped their price target on Phillips 66 from $163.00 to $160.00 and set an outperform rating on the stock in a research report on Thursday, May 30th. Argus reaffirmed a buy rating and issued a $167.00 price target on shares of Phillips 66 in a research report on Thursday, May 30th. JPMorgan Chase & Co. cut their price objective on shares of Phillips 66 from $165.00 to $162.00 and set an overweight rating on the stock in a report on Tuesday, July 2nd. Scotiabank lifted their target price on Phillips 66 from $148.00 to $156.00 and gave the company a sector outperform rating in a research note on Thursday, April 11th. Finally, Piper Sandler decreased their price objective on Phillips 66 from $170.00 to $151.00 and set an overweight rating for the company in a report on Friday, June 14th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Phillips 66 presently has an average rating of Moderate Buy and an average target price of $156.64.

Phillips 66 Stock Performance

Shares of Phillips 66 stock opened at $136.92 on Tuesday. 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 $58.05 billion, a PE ratio of 10.53, a price-to-earnings-growth ratio of 2.13 and a beta of 1.34. The stock’s fifty day moving average is $140.49 and its two-hundred day moving average is $144.99. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.58.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.90 earnings per share for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). The company had revenue of $36.44 billion for 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 in the previous year, the business earned $4.21 EPS. As a group, analysts expect that Phillips 66 will post 10.62 earnings per share for the current year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th will be issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 3.36%. Phillips 66’s payout ratio is 35.38%.

Insider Transactions at Phillips 66

In other Phillips 66 news, EVP Timothy D. Roberts sold 37,742 shares of the firm’s stock in a transaction that occurred 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 sale, 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 filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.22% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Harbour Investments Inc. lifted its holdings in Phillips 66 by 3.5% in the 3rd quarter. Harbour Investments Inc. now owns 2,772 shares of the oil and gas company’s stock valued at $333,000 after purchasing an additional 93 shares in the last quarter. Diversified Trust Co lifted its stake in Phillips 66 by 16.5% in the 3rd quarter. Diversified Trust Co now owns 11,095 shares of the oil and gas company’s stock worth $1,333,000 after purchasing an additional 1,569 shares in the last quarter. Public Sector Pension Investment Board boosted its holdings in shares of Phillips 66 by 10.9% during the 3rd quarter. Public Sector Pension Investment Board now owns 105,395 shares of the oil and gas company’s stock worth $12,663,000 after purchasing an additional 10,359 shares during the last quarter. Trust Co. of Vermont grew its position in shares of Phillips 66 by 7.2% in the third quarter. Trust Co. of Vermont now owns 2,623 shares of the oil and gas company’s stock valued at $315,000 after purchasing an additional 176 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. increased its holdings in shares of Phillips 66 by 4.2% in the third quarter. B. Riley Wealth Advisors Inc. now owns 38,175 shares of the oil and gas company’s stock valued at $4,587,000 after purchasing an additional 1,552 shares during the last quarter. Institutional investors and hedge funds 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.