Phillips 66 (NYSE:PSX) PT Lowered to $150.00 at Mizuho

Phillips 66 (NYSE:PSX) had its target price cut by Mizuho from $154.00 to $150.00 in a research report released on Monday morning, Benzinga reports. They currently have a neutral rating on the oil and gas company’s stock.

Other equities analysts also recently issued research reports about the stock. Barclays lifted their price target on shares of Phillips 66 from $136.00 to $138.00 and gave the company an equal weight rating in a report on Monday, August 5th. Scotiabank lowered their target price on shares of Phillips 66 from $156.00 to $145.00 and set a sector outperform rating on the stock in a research note on Friday, July 12th. Wells Fargo & Company increased their price target on Phillips 66 from $176.00 to $182.00 and gave the stock an overweight rating in a research note on Tuesday, September 3rd. Raymond James boosted their price objective on Phillips 66 from $150.00 to $155.00 and gave the company an outperform rating in a research report on Wednesday, July 31st. Finally, TD Cowen cut their target price on Phillips 66 from $162.00 to $150.00 and set a buy rating for the company in a research report on Wednesday, September 11th. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Phillips 66 has an average rating of Moderate Buy and an average price target of $155.29.

Phillips 66 Price Performance

Shares of Phillips 66 stock opened at $130.31 on Monday. The stock has a market cap of $54.54 billion, a P/E ratio of 10.02, a P/E/G ratio of 4.53 and a beta of 1.33. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.79 and a current ratio of 1.14. The stock’s fifty day moving average is $135.46 and its 200 day moving average is $143.87. Phillips 66 has a one year low of $107.85 and a one year high of $174.08.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $2.31 EPS for the quarter, topping the consensus estimate of $1.98 by $0.33. The firm had revenue of $38.91 billion for the quarter, compared to the consensus estimate of $37.79 billion. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter last year, the company earned $3.87 earnings per share. Sell-side analysts anticipate that Phillips 66 will post 9.25 earnings per share for the current year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th were issued a dividend of $1.15 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $4.60 annualized dividend and a dividend yield of 3.53%. Phillips 66’s dividend payout ratio (DPR) is 35.38%.

Insider Activity

In related news, CFO Kevin J. Mitchell sold 30,000 shares of the business’s stock in a transaction 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 sale, the chief financial officer now owns 81,937 shares in the company, valued at $11,390,062.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.22% of the company’s stock.

Institutional Investors Weigh In On Phillips 66

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Manning & Napier Advisors LLC bought a new position in shares of Phillips 66 during the 2nd quarter valued at approximately $17,670,000. M&G Plc purchased a new stake in shares of Phillips 66 in the second quarter valued at $3,596,000. Duality Advisers LP bought a new stake in shares of Phillips 66 in the 1st quarter worth about $3,596,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Phillips 66 by 42.3% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 133,736 shares of the oil and gas company’s stock worth $21,844,000 after purchasing an additional 39,775 shares during the period. Finally, Teachers Retirement System of The State of Kentucky grew its holdings in Phillips 66 by 14.3% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 289,395 shares of the oil and gas company’s stock valued at $38,530,000 after purchasing an additional 36,116 shares during the last quarter. 76.93% of the stock is currently owned by hedge funds and other 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.