Phillips 66 (NYSE:PSX) Price Target Cut to $155.00 by Analysts at TD Cowen

Phillips 66 (NYSE:PSX) had its price objective trimmed by TD Cowen from $164.00 to $155.00 in a report published on Friday, MarketBeat.com reports. The brokerage currently has a buy rating on the oil and gas company’s stock.

A number of other research analysts also recently weighed in on the company. Mizuho reduced their target price on Phillips 66 from $162.00 to $160.00 and set a neutral rating on the stock in a report on Thursday. Piper Sandler reduced their target price on Phillips 66 from $170.00 to $151.00 and set an overweight rating on the stock in a report on Friday, June 14th. Wells Fargo & Company upped their target price on Phillips 66 from $179.00 to $191.00 and gave the stock an overweight rating in a report on Monday, April 8th. Scotiabank upped their target price on Phillips 66 from $148.00 to $156.00 and gave the stock a sector outperform rating in a report on Thursday, April 11th. Finally, Raymond James cut their price target on Phillips 66 from $163.00 to $160.00 and set an outperform rating on the stock in a research note on Thursday, May 30th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $157.79.

Phillips 66 Trading Up 0.1 %

PSX opened at $138.09 on Friday. The business has a 50 day simple moving average of $144.60 and a two-hundred day simple moving average of $144.08. The firm has a market capitalization of $58.54 billion, a price-to-earnings ratio of 10.62, a PEG ratio of 1.92 and a beta of 1.37. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.17 and a quick ratio of 0.82. Phillips 66 has a one year low of $89.74 and a one year high of $174.08.

Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share 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 firm had revenue of $36.44 billion for the quarter, compared to analysts’ expectations of $35.87 billion. During the same quarter last year, the company posted $4.21 EPS. Analysts predict that Phillips 66 will post 11.8 EPS for the current year.

Phillips 66 Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 20th were paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 3.33%. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend was Friday, May 17th. Phillips 66’s dividend payout ratio (DPR) is currently 35.38%.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, EVP Timothy D. Roberts sold 37,742 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $145.80, for a total transaction of $5,502,783.60. Following the sale, the executive vice president now directly owns 48,365 shares in the company, valued at approximately $7,051,617. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.22% of the company’s stock.

Hedge Funds Weigh In On Phillips 66

Several hedge funds and other institutional investors have recently modified their holdings of the company. Chelsea Counsel Co. lifted its holdings in shares of Phillips 66 by 29.3% during the 1st quarter. Chelsea Counsel Co. now owns 8,835 shares of the oil and gas company’s stock valued at $1,443,000 after buying an additional 2,000 shares during the period. NBW Capital LLC bought a new position in shares of Phillips 66 during the 1st quarter valued at $261,000. Keynote Financial Services LLC bought a new position in shares of Phillips 66 during the 1st quarter valued at $964,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Phillips 66 by 2.2% during the 1st quarter. EverSource Wealth Advisors LLC now owns 4,811 shares of the oil and gas company’s stock valued at $786,000 after buying an additional 104 shares during the period. Finally, DekaBank Deutsche Girozentrale lifted its holdings in shares of Phillips 66 by 1.0% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 203,702 shares of the oil and gas company’s stock valued at $32,345,000 after buying an additional 2,110 shares during the period. 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.