Phillips 66 (NYSE:PSX) Given New $160.00 Price Target at Mizuho

Phillips 66 (NYSE:PSX) had its target price decreased by Mizuho from $162.00 to $160.00 in a research report released on Thursday morning, Benzinga reports. Mizuho currently has a neutral rating on the oil and gas company’s stock.

A number of other brokerages also recently weighed in on PSX. Scotiabank raised their target price on Phillips 66 from $148.00 to $156.00 and gave the company a sector outperform rating in a report on Thursday, April 11th. Raymond James reduced their target price on Phillips 66 from $163.00 to $160.00 and set an outperform rating on the stock in a report on Thursday, May 30th. Bank of America raised their target price on Phillips 66 from $150.00 to $180.00 and gave the company a neutral rating in a report on Friday, March 15th. The Goldman Sachs Group raised their target price on Phillips 66 from $152.00 to $174.00 and gave the company a buy rating in a report on Friday, March 22nd. Finally, Wells Fargo & Company raised their price objective on Phillips 66 from $179.00 to $191.00 and gave the company an overweight rating in a report on Monday, April 8th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $157.43.

Phillips 66 Price Performance

Phillips 66 stock opened at $137.93 on Thursday. The stock’s fifty day moving average price is $145.09 and its two-hundred day moving average price is $144.01. Phillips 66 has a one year low of $89.74 and a one year high of $174.08. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.17 and a quick ratio of 0.82. The firm has a market cap of $58.48 billion, a PE ratio of 10.61, a price-to-earnings-growth ratio of 1.92 and a beta of 1.37.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.90 EPS for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. The company had revenue of $36.44 billion for the quarter, compared to the consensus estimate of $35.87 billion. During the same quarter last year, the business earned $4.21 EPS. As a group, research analysts expect that Phillips 66 will post 11.8 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 20th were given a dividend of $1.15 per share. This is a positive change from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 annualized dividend and a yield of 3.34%. The ex-dividend date was Friday, May 17th. Phillips 66’s dividend payout ratio (DPR) is currently 35.38%.

Insider Transactions at Phillips 66

In other news, EVP Timothy D. Roberts sold 37,742 shares of Phillips 66 stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 48,365 shares of the company’s stock, valued at approximately $7,051,617. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.22% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in PSX. Crewe Advisors LLC bought a new position in shares of Phillips 66 in the 1st quarter worth about $25,000. Keener Financial Planning LLC bought a new position in shares of Phillips 66 in the 1st quarter worth about $26,000. Ables Iannone Moore & Associates Inc. bought a new position in shares of Phillips 66 in the 4th quarter worth about $27,000. Redmont Wealth Advisors LLC bought a new stake in Phillips 66 in the 1st quarter valued at about $28,000. Finally, First United Bank & Trust bought a new stake in Phillips 66 in the 4th quarter valued at about $31,000. 76.93% of the stock is owned by institutional investors.

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.