Phillips 66 (NYSE:PSX) Given New $150.00 Price Target at Mizuho

Phillips 66 (NYSE:PSX) had its target price decreased by Mizuho from $154.00 to $150.00 in a research note published on Monday morning, Benzinga reports. Mizuho currently has a neutral rating on the oil and gas company’s stock.

A number of other research firms have also weighed in on PSX. JPMorgan Chase & Co. dropped their target price on shares of Phillips 66 from $165.00 to $162.00 and set an overweight rating for the company in a report on Tuesday, July 2nd. Scotiabank dropped their price objective on Phillips 66 from $156.00 to $145.00 and set a sector outperform rating for the company in a report on Friday, July 12th. Argus reissued a buy rating and set a $167.00 target price on shares of Phillips 66 in a research note on Thursday, May 30th. Raymond James upped their target price on Phillips 66 from $150.00 to $155.00 and gave the company an outperform rating in a report on Wednesday, July 31st. Finally, Piper Sandler cut their price target on shares of Phillips 66 from $170.00 to $151.00 and set an overweight rating on the stock in a report on Friday, June 14th. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $155.29.

Phillips 66 Trading Up 1.7 %

Shares of PSX stock opened at $132.56 on Monday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 0.79. The business has a 50-day moving average of $135.37 and a 200 day moving average of $143.79. The stock has a market capitalization of $55.49 billion, a PE ratio of 10.20, a P/E/G ratio of 4.53 and a beta of 1.33. Phillips 66 has a 1-year low of $107.85 and a 1-year high of $174.08.

Phillips 66 (NYSE:PSX) last issued its earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.33. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The firm had revenue of $38.91 billion for the quarter, compared to analysts’ expectations of $37.79 billion. During the same quarter last year, the business earned $3.87 earnings per share. The business’s revenue was up 8.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Phillips 66 will post 9.25 earnings per share for the current year.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th were issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date was Tuesday, August 20th. Phillips 66’s dividend payout ratio (DPR) is presently 35.38%.

Insider Buying and Selling at Phillips 66

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 81,937 shares of the company’s stock, valued at approximately $11,390,062.37. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.22% of the company’s stock.

Hedge Funds Weigh In On Phillips 66

A number of hedge funds have recently bought and sold shares of the company. Gryphon Financial Partners LLC raised its holdings in Phillips 66 by 11.4% in the fourth quarter. Gryphon Financial Partners LLC now owns 4,166 shares of the oil and gas company’s stock worth $546,000 after buying an additional 426 shares during the last quarter. Meridian Wealth Management LLC purchased a new position in Phillips 66 in the 4th quarter worth approximately $213,000. Brown Advisory Inc. lifted its position in Phillips 66 by 1.8% in the 4th quarter. Brown Advisory Inc. now owns 57,201 shares of the oil and gas company’s stock valued at $7,616,000 after acquiring an additional 984 shares in the last quarter. TrinityPoint Wealth LLC boosted its stake in Phillips 66 by 14.9% during the 4th quarter. TrinityPoint Wealth LLC now owns 5,170 shares of the oil and gas company’s stock valued at $688,000 after purchasing an additional 672 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Phillips 66 in the 4th quarter worth $559,435,000. 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.