Mizuho Cuts Phillips 66 (NYSE:PSX) Price Target to $160.00

Phillips 66 (NYSE:PSX) had its price target trimmed by Mizuho from $162.00 to $160.00 in a research note issued to investors on Thursday, Benzinga reports. They currently have a neutral rating on the oil and gas company’s stock.

Several other analysts have also issued reports on the stock. The Goldman Sachs Group upped their price target on shares of Phillips 66 from $152.00 to $174.00 and gave the company a buy rating in a research report on Friday, March 22nd. JPMorgan Chase & Co. upped their price target on shares of Phillips 66 from $149.00 to $167.00 and gave the company an overweight rating in a research report on Monday, April 1st. Raymond James cut their price target on shares of Phillips 66 from $163.00 to $160.00 and set an outperform rating for the company in a research report on Thursday, May 30th. Wells Fargo & Company upped their price target on shares of Phillips 66 from $179.00 to $191.00 and gave the company an overweight rating in a research report on Monday, April 8th. Finally, Barclays dropped their target price on shares of Phillips 66 from $155.00 to $147.00 and set an equal weight rating for the company in a report on Tuesday, April 30th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $157.43.

Phillips 66 Stock Up 1.5 %

Shares of NYSE:PSX opened at $137.93 on Thursday. Phillips 66 has a 52-week low of $89.74 and a 52-week high of $174.08. The firm has a fifty day moving average of $145.09 and a 200 day moving average of $144.01. The firm has a market capitalization of $58.48 billion, a PE ratio of 10.61, a price-to-earnings-growth ratio of 1.92 and a beta of 1.37. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.82 and a current ratio of 1.17.

Phillips 66 (NYSE:PSX) last announced its earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $35.87 billion. During the same quarter last year, the firm posted $4.21 earnings per share. As a group, research analysts anticipate that Phillips 66 will post 11.8 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 20th were paid a $1.15 dividend. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date was Friday, May 17th. Phillips 66’s dividend payout ratio is presently 35.38%.

Insider Buying and Selling

In related news, EVP Timothy D. Roberts sold 37,742 shares of the stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $145.80, for a total value of $5,502,783.60. Following the completion of the transaction, the executive vice president now directly owns 48,365 shares of the company’s stock, valued at $7,051,617. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.22% of the stock is owned by insiders.

Hedge Funds Weigh In On Phillips 66

A number of institutional investors and hedge funds have recently made changes to their positions in PSX. WINTON GROUP Ltd bought a new position in shares of Phillips 66 during the third quarter valued at approximately $205,000. Rathbones Group PLC bought a new position in shares of Phillips 66 during the third quarter valued at approximately $1,029,000. Fuller & Thaler Asset Management Inc. increased its stake in shares of Phillips 66 by 6.7% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 1,601 shares of the oil and gas company’s stock valued at $192,000 after purchasing an additional 100 shares in the last quarter. Stifel Financial Corp increased its stake in shares of Phillips 66 by 2.2% during the third quarter. Stifel Financial Corp now owns 451,483 shares of the oil and gas company’s stock valued at $54,248,000 after purchasing an additional 9,810 shares in the last quarter. Finally, Federated Hermes Inc. grew its holdings in shares of Phillips 66 by 14.8% during the third quarter. Federated Hermes Inc. now owns 74,805 shares of the oil and gas company’s stock valued at $8,988,000 after buying an additional 9,636 shares during the last quarter. Institutional investors 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.