Phillips 66 (NYSE:PSX) Price Target Lowered to $147.00 at Mizuho

Phillips 66 (NYSE:PSX) had its price target trimmed by Mizuho from $150.00 to $147.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a neutral rating on the oil and gas company’s stock.

A number of other equities research analysts have also recently issued reports on PSX. JPMorgan Chase & Co. decreased their target price on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. UBS Group decreased their target price on Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a research report on Monday, November 4th. TD Cowen decreased their target price on Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Morgan Stanley decreased their target price on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Finally, Scotiabank decreased their target price on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $149.00.

Phillips 66 Trading Down 5.2 %

Shares of NYSE PSX opened at $116.28 on Monday. The stock has a market cap of $48.02 billion, a price-to-earnings ratio of 14.93, a PEG ratio of 4.06 and a beta of 1.35. The business has a 50 day simple moving average of $129.42 and a 200 day simple moving average of $133.66. Phillips 66 has a 52 week low of $116.07 and a 52 week high of $174.08. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, beating the consensus estimate of $1.63 by $0.41. The business had revenue of $36.16 billion during the quarter, compared to analysts’ expectations of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The firm’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.63 EPS. On average, research analysts predict that Phillips 66 will post 7.56 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 18th were paid a $1.15 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $4.60 annualized dividend and a yield of 3.96%. Phillips 66’s dividend payout ratio (DPR) is presently 59.05%.

Hedge Funds Weigh In On Phillips 66

A number of institutional investors have recently modified their holdings of the business. Van ECK Associates Corp grew its position in shares of Phillips 66 by 263.3% in the 3rd quarter. Van ECK Associates Corp now owns 83,278 shares of the oil and gas company’s stock valued at $10,753,000 after buying an additional 60,355 shares during the last quarter. Mizuho Securities USA LLC raised its stake in shares of Phillips 66 by 7,549.0% in the third quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock worth $328,625,000 after purchasing an additional 2,467,316 shares during the last quarter. Nwam LLC purchased a new stake in shares of Phillips 66 in the third quarter worth approximately $498,000. Olympiad Research LP purchased a new stake in shares of Phillips 66 during the third quarter valued at approximately $607,000. Finally, Principal Financial Group Inc. grew its holdings in Phillips 66 by 2.8% during the third quarter. Principal Financial Group Inc. now owns 530,807 shares of the oil and gas company’s stock valued at $69,775,000 after purchasing an additional 14,209 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.