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

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

Several other research firms have also commented on PSX. Argus restated a buy rating and set a $167.00 price target on shares of Phillips 66 in a research report on Thursday, May 30th. TD Cowen decreased their price objective on Phillips 66 from $162.00 to $150.00 and set a buy rating for the company in a report on Wednesday, September 11th. Wells Fargo & Company lifted their target price on Phillips 66 from $176.00 to $182.00 and gave the company an overweight rating in a research note on Tuesday, September 3rd. Scotiabank decreased their price target on Phillips 66 from $156.00 to $145.00 and set a sector outperform rating for the company in a research note on Friday, July 12th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Phillips 66 from $165.00 to $162.00 and set an overweight rating for the company in a research report on Tuesday, July 2nd. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $154.21.

Phillips 66 Stock Performance

Phillips 66 stock opened at $131.11 on Friday. Phillips 66 has a 12 month low of $107.85 and a 12 month high of $174.08. The company has a fifty day moving average price of $135.02 and a two-hundred day moving average price of $143.52. 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 company has a market cap of $55.58 billion, a PE ratio of 10.09, a P/E/G ratio of 4.67 and a beta of 1.33.

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

Phillips 66 Dividend Announcement

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

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the business’s stock in a transaction dated 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 transaction, 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 Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.22% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of PSX. Crewe Advisors LLC bought a new stake in shares of Phillips 66 during the 1st quarter worth about $25,000. Keener Financial Planning LLC acquired a new position in Phillips 66 in the 1st quarter valued at approximately $26,000. Strategic Financial Concepts LLC bought a new position in shares of Phillips 66 during the 2nd quarter worth about $26,000. Ables Iannone Moore & Associates Inc. bought a new stake in Phillips 66 in the fourth quarter valued at $27,000. Finally, Redmont Wealth Advisors LLC acquired a new position in Phillips 66 in the first quarter valued at about $28,000. 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.