Phillips 66 (NYSE:PSX) Price Target Cut to $138.00 by Analysts at UBS Group

Phillips 66 (NYSE:PSX) had its target price decreased by UBS Group from $150.00 to $138.00 in a research note released on Monday morning, Benzinga reports. UBS Group currently has a buy rating on the oil and gas company’s stock.

Several other equities analysts also recently commented on PSX. Mizuho dropped their price target on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Bank of America began coverage on Phillips 66 in a report on Thursday, October 17th. They set a “buy” rating and a $156.00 price target on the stock. Barclays reduced their price target on Phillips 66 from $138.00 to $133.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 8th. Wells Fargo & Company lowered their price objective on Phillips 66 from $182.00 to $167.00 and set an “overweight” rating for the company in a research report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a report on Wednesday, October 2nd. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $150.38.

Phillips 66 Price Performance

NYSE PSX traded up $0.17 during trading hours on Monday, hitting $121.20. 172,320 shares of the company’s stock traded hands, compared to its average volume of 2,661,333. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The firm’s 50-day moving average is $130.98 and its 200-day moving average is $137.30. Phillips 66 has a 52-week low of $110.54 and a 52-week high of $174.08. The company has a market capitalization of $50.05 billion, a PE ratio of 15.54, a PEG ratio of 3.90 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.41. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The company had revenue of $36.16 billion for the quarter, compared to analyst estimates of $36.31 billion. During the same quarter in the previous year, the company posted $4.63 earnings per share. The firm’s revenue for the quarter was down 10.3% compared to the same quarter last year. Equities analysts forecast that Phillips 66 will post 7.69 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 3.80%. The ex-dividend date of this dividend is Monday, November 18th. Phillips 66’s payout ratio is 59.05%.

Insider Transactions at Phillips 66

In related news, CFO Kevin J. Mitchell sold 30,000 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the sale, the chief financial officer now owns 81,937 shares of the company’s stock, valued at $11,390,062.37. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.22% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PSX. OVERSEA CHINESE BANKING Corp Ltd grew its position in Phillips 66 by 28.6% during the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 2,143 shares of the oil and gas company’s stock valued at $282,000 after acquiring an additional 477 shares during the period. GSA Capital Partners LLP acquired a new position in shares of Phillips 66 in the 3rd quarter valued at about $817,000. WCM Investment Management LLC grew its holdings in shares of Phillips 66 by 310.4% during the 3rd quarter. WCM Investment Management LLC now owns 9,890 shares of the oil and gas company’s stock worth $1,296,000 after purchasing an additional 7,480 shares during the period. Nations Financial Group Inc. IA ADV increased its position in Phillips 66 by 5.6% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 44,312 shares of the oil and gas company’s stock worth $5,825,000 after purchasing an additional 2,361 shares in the last quarter. Finally, Jupiter Wealth Management LLC raised its holdings in Phillips 66 by 9.3% in the third quarter. Jupiter Wealth Management LLC now owns 8,154 shares of the oil and gas company’s stock valued at $1,072,000 after buying an additional 695 shares during the period. 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.