Barclays Cuts Phillips 66 (NYSE:PSX) Price Target to $147.00

Phillips 66 (NYSE:PSX) had its price target reduced by Barclays from $155.00 to $147.00 in a research note released on Tuesday, Benzinga reports. They currently have an equal weight rating on the oil and gas company’s stock.

Other analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. raised their price objective on shares of Phillips 66 from $149.00 to $167.00 and gave the stock an overweight rating in a report on Monday, April 1st. Raymond James raised their price objective on shares of Phillips 66 from $140.00 to $155.00 and gave the stock an outperform rating in a report on Thursday, February 1st. Mizuho cut their price objective on shares of Phillips 66 from $167.00 to $162.00 and set a neutral rating on the stock in a report on Friday, April 12th. Wells Fargo & Company lifted their target price on shares of Phillips 66 from $179.00 to $191.00 and gave the company an overweight rating in a report on Monday, April 8th. Finally, Scotiabank lifted their target price on shares of Phillips 66 from $148.00 to $156.00 and gave the company a sector outperform rating in a report on Thursday, April 11th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $157.43.

Phillips 66 Stock Down 0.2 %

Phillips 66 stock traded down $0.26 during trading on Tuesday, reaching $143.61. The stock had a trading volume of 1,804,654 shares, compared to its average volume of 2,957,052. Phillips 66 has a 52-week low of $89.74 and a 52-week high of $174.08. The business has a 50 day moving average price of $155.62 and a 200 day moving average price of $137.81. The company has a quick ratio of 1.02, a current ratio of 1.17 and a debt-to-equity ratio of 0.58. The stock has a market cap of $60.88 billion, a PE ratio of 11.05, a P/E/G ratio of 1.77 and a beta of 1.41.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data 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 company had revenue of $36.44 billion for the quarter, compared to analyst estimates of $35.87 billion. During the same period in the previous year, the business posted $4.21 EPS. On average, analysts predict that Phillips 66 will post 13.17 EPS for the current year.

Phillips 66 Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be paid a $1.15 dividend. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 annualized dividend and a yield of 3.20%. The ex-dividend date is Friday, May 17th. Phillips 66’s payout ratio is currently 32.31%.

Insider Buying and Selling at Phillips 66

In other news, Director Robert W. Pease acquired 682 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were bought at an average cost of $146.58 per share, with a total value of $99,967.56. Following the purchase, the director now owns 1,900 shares of the company’s stock, valued at approximately $278,502. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Phillips 66 news, EVP Richard G. Harbison sold 21,934 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the sale, the executive vice president now directly owns 24,941 shares in the company, valued at approximately $3,648,120.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert W. Pease bought 682 shares of the firm’s stock in a transaction on Thursday, February 15th. The shares were bought at an average price of $146.58 per share, for a total transaction of $99,967.56. Following the completion of the transaction, the director now directly owns 1,900 shares in the company, valued at approximately $278,502. The disclosure for this purchase can be found here. In the last three months, insiders have sold 35,056 shares of company stock valued at $5,272,681. 0.22% of the stock is owned by company insiders.

Institutional Investors Weigh In On Phillips 66

Several institutional investors and hedge funds have recently made changes to their positions in the business. Madison Park Capital Advisors LLC boosted its position in shares of Phillips 66 by 3.0% in the 1st quarter. Madison Park Capital Advisors LLC now owns 2,346 shares of the oil and gas company’s stock worth $383,000 after buying an additional 68 shares in the last quarter. Premier Path Wealth Partners LLC boosted its position in shares of Phillips 66 by 1.6% in the 1st quarter. Premier Path Wealth Partners LLC now owns 4,464 shares of the oil and gas company’s stock worth $729,000 after buying an additional 71 shares in the last quarter. Warwick Investment Management Inc. boosted its position in shares of Phillips 66 by 3.1% in the 4th quarter. Warwick Investment Management Inc. now owns 2,395 shares of the oil and gas company’s stock worth $319,000 after buying an additional 73 shares in the last quarter. MV Capital Management Inc. boosted its position in shares of Phillips 66 by 9.6% in the 1st quarter. MV Capital Management Inc. now owns 837 shares of the oil and gas company’s stock worth $137,000 after buying an additional 73 shares in the last quarter. Finally, HCR Wealth Advisors boosted its position in shares of Phillips 66 by 2.9% in the 4th quarter. HCR Wealth Advisors now owns 2,640 shares of the oil and gas company’s stock worth $351,000 after buying an additional 74 shares in the last quarter. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

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.