Phillips 66 (NYSE:PSX) Price Target Lowered to $124.00 at Barclays

Phillips 66 (NYSE:PSX) had its target price lowered by Barclays from $133.00 to $124.00 in a research report report published on Monday,Benzinga reports. The firm currently has an equal weight rating on the oil and gas company’s stock.

A number of other equities analysts also recently weighed in on the stock. UBS Group cut their price target on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Bank of America began coverage on Phillips 66 in a research report on Thursday, October 17th. They set a “buy” rating and a $156.00 price target for the company. Wolfe Research began coverage on Phillips 66 in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Raymond James increased their target price on shares of Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Finally, Morgan Stanley decreased their price objective on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $149.69.

Phillips 66 Price Performance

Shares of NYSE:PSX traded up $0.65 on Monday, hitting $128.59. The company had a trading volume of 87,051 shares, compared to its average volume of 2,657,420. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The company has a market cap of $53.11 billion, a PE ratio of 16.43, a PEG ratio of 4.12 and a beta of 1.33. Phillips 66 has a 52-week low of $111.90 and a 52-week high of $174.08. The business has a 50 day moving average of $129.87 and a 200 day moving average of $136.21.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.41. The business had revenue of $36.16 billion during the quarter, compared to analyst estimates of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The company’s revenue was down 10.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.63 earnings per share. As a group, equities analysts anticipate that Phillips 66 will post 7.68 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be paid a dividend of $1.15 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.60 annualized dividend and a yield of 3.58%. Phillips 66’s dividend payout ratio (DPR) is 59.05%.

Insiders Place Their Bets

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the stock in a transaction that occurred 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 directly owns 81,937 shares in the company, valued at approximately $11,390,062.37. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.22% of the stock is currently owned by corporate insiders.

Institutional Trading of Phillips 66

Hedge funds have recently bought and sold shares of the company. Crewe Advisors LLC acquired a new stake in shares of Phillips 66 in the first quarter valued at approximately $25,000. nVerses Capital LLC bought a new position in Phillips 66 in the 3rd quarter worth approximately $26,000. Bank & Trust Co acquired a new stake in Phillips 66 in the 2nd quarter valued at approximately $31,000. Values First Advisors Inc. bought a new stake in Phillips 66 during the 3rd quarter valued at $30,000. Finally, Opal Wealth Advisors LLC acquired a new position in Phillips 66 during the 2nd quarter worth $34,000. 76.93% of the stock is currently owned by 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.