Phillips 66 (NYSE:PSX) PT Lowered to $144.00 at Morgan Stanley

Phillips 66 (NYSE:PSX) had its price objective lowered by Morgan Stanley from $150.00 to $144.00 in a report published on Monday morning, Benzinga reports. Morgan Stanley currently has an equal weight rating on the oil and gas company’s stock.

A number of other equities analysts have also recently commented on PSX. TD Cowen decreased their price target on Phillips 66 from $162.00 to $150.00 and set a buy rating on the stock in a research note on Wednesday, September 11th. JPMorgan Chase & Co. lowered their price target 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. Wolfe Research began coverage on shares of Phillips 66 in a research report on Thursday, July 18th. They set a peer perform rating for the company. Mizuho decreased their price objective on shares of Phillips 66 from $154.00 to $150.00 and set a neutral rating on the stock in a research report on Monday. Finally, Barclays increased their target price on shares of Phillips 66 from $136.00 to $138.00 and gave the stock an equal weight rating in a report on Monday, August 5th. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Phillips 66 has a consensus rating of Moderate Buy and a consensus price target of $155.29.

Phillips 66 Price Performance

Shares of Phillips 66 stock opened at $132.56 on Monday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.79 and a current ratio of 1.14. Phillips 66 has a 52-week low of $107.85 and a 52-week high of $174.08. The company has a fifty 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 price-to-earnings ratio of 10.20, a price-to-earnings-growth ratio of 4.53 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.33. The firm had revenue of $38.91 billion for the quarter, compared to analysts’ expectations of $37.79 billion. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period last year, the firm earned $3.87 earnings per share. Equities research analysts expect that Phillips 66 will post 9.25 EPS for the current year.

Phillips 66 Dividend Announcement

The company 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. The ex-dividend date was Tuesday, August 20th. This represents a $4.60 dividend on an annualized basis and a yield of 3.47%. Phillips 66’s dividend payout ratio (DPR) is 35.38%.

Insider Activity

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were 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 owns 81,937 shares in the company, valued at $11,390,062.37. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.22% of the company’s stock.

Institutional Trading of Phillips 66

Several hedge funds and other institutional investors have recently made changes to their positions in PSX. Crewe Advisors LLC purchased a new stake in Phillips 66 during the 1st quarter valued at about $25,000. Keener Financial Planning LLC bought a new position in Phillips 66 in the 1st quarter valued at approximately $26,000. Redmont Wealth Advisors LLC bought a new stake in shares of Phillips 66 in the 1st quarter worth $28,000. Ruedi Wealth Management Inc. raised its stake in shares of Phillips 66 by 102.1% in the first quarter. Ruedi Wealth Management Inc. now owns 190 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 96 shares during the last quarter. Finally, Ables Iannone Moore & Associates Inc. bought a new position in shares of Phillips 66 during the fourth quarter valued at $27,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

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.