Phillips 66 (NYSE:PSX) Reaches New 52-Week Low – Here’s Why

Shares of Phillips 66 (NYSE:PSX) reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $107.63 and last traded at $108.05, with a volume of 2939097 shares. The stock had previously closed at $124.06.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on PSX shares. Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price on the stock in a research report on Friday, January 3rd. Mizuho cut their price target on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Barclays raised their price objective on shares of Phillips 66 from $115.00 to $135.00 and gave the stock an “equal weight” rating in a report on Friday, March 14th. Piper Sandler lowered shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Finally, Wells Fargo & Company lifted their price target on Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $146.43.

Phillips 66 Trading Down 13.6 %

The firm has a market cap of $43.69 billion, a P/E ratio of 21.69, a P/E/G ratio of 4.84 and a beta of 1.31. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. The firm has a fifty day moving average of $125.02 and a 200-day moving average of $125.48.

Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($1.38). Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same period in the prior year, the firm earned $3.09 earnings per share. Equities research analysts forecast that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 4.29%. The ex-dividend date was Monday, February 24th. Phillips 66’s dividend payout ratio (DPR) is 93.12%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Versant Capital Management Inc grew its position in Phillips 66 by 50.3% in the 1st quarter. Versant Capital Management Inc now owns 2,008 shares of the oil and gas company’s stock valued at $248,000 after buying an additional 672 shares in the last quarter. Global Wealth Strategies & Associates bought a new stake in shares of Phillips 66 during the 1st quarter worth about $34,000. Cullen Investment Group LTD. acquired a new stake in shares of Phillips 66 in the 1st quarter worth approximately $205,000. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Phillips 66 by 3.9% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 6,064 shares of the oil and gas company’s stock valued at $749,000 after acquiring an additional 229 shares in the last quarter. Finally, Mascagni Wealth Management Inc. acquired a new position in shares of Phillips 66 during the fourth quarter valued at approximately $115,000. 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.