Phillips 66 (NYSE:PSX) Price Target Lowered to $138.00 at UBS Group

Phillips 66 (NYSE:PSX) had its price target cut by UBS Group from $150.00 to $138.00 in a report issued on Monday, Benzinga reports. They currently have a buy rating on the oil and gas company’s stock.

PSX has been the topic of a number of other research reports. Wolfe Research assumed coverage on shares of Phillips 66 in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Wells Fargo & Company cut their price objective on shares of Phillips 66 from $182.00 to $167.00 and set an “overweight” rating on the stock in a report on Wednesday, October 9th. Piper Sandler set a $144.00 price objective on shares of Phillips 66 in a report on Thursday, October 17th. Scotiabank cut their price objective on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Finally, Mizuho cut their price objective on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Phillips 66 currently has an average rating of “Moderate Buy” and an average target price of $150.38.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $127.91 on Monday. Phillips 66 has a 1 year low of $110.54 and a 1 year high of $174.08. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The company’s 50-day moving average is $130.59 and its 200 day moving average is $137.00. The stock has a market capitalization of $52.83 billion, a P/E ratio of 16.42, a P/E/G ratio of 3.94 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.41. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The company had revenue of $36.16 billion for the quarter, compared to analysts’ expectations of $36.31 billion. During the same quarter in the previous year, the company earned $4.63 earnings per share. Phillips 66’s quarterly revenue was down 10.3% on a year-over-year basis. On average, sell-side analysts expect that Phillips 66 will post 7.69 earnings per share for the current year.

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be given a dividend of $1.15 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a yield of 3.60%. Phillips 66’s dividend payout ratio (DPR) is 59.05%.

Insider Activity at Phillips 66

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $139.01, for a total value of $4,170,300.00. Following the transaction, the chief financial officer now directly owns 81,937 shares in the company, valued at approximately $11,390,062.37. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.22% of the stock is owned by insiders.

Institutional Trading of Phillips 66

Institutional investors and hedge funds have recently modified their holdings of the company. Crewe Advisors LLC bought a new stake in shares of Phillips 66 during the 1st quarter valued at $25,000. Keener Financial Planning LLC purchased a new position in shares of Phillips 66 during the 1st quarter worth about $26,000. Ruedi Wealth Management Inc. boosted its position in Phillips 66 by 102.1% in the 1st quarter. Ruedi Wealth Management Inc. now owns 190 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 96 shares during the period. nVerses Capital LLC purchased a new stake in Phillips 66 in the 3rd quarter valued at about $26,000. Finally, Bank & Trust Co purchased a new stake in Phillips 66 in the 2nd quarter valued at about $31,000. 76.93% of the stock is currently 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.