Phillips 66 (NYSE:PSX) Price Target Cut to $120.00 by Analysts at Mizuho

Phillips 66 (NYSE:PSX – Get Rating) had its price target trimmed by Mizuho from $121.00 to $120.00 in a research report sent to investors on Friday, The Fly reports.

Several other equities analysts also recently commented on PSX. Morgan Stanley upped their target price on Phillips 66 from $115.00 to $125.00 and gave the company an equal weight rating in a research report on Friday, January 20th. StockNews.com upgraded Phillips 66 from a hold rating to a buy rating in a research note on Wednesday, March 1st. UBS Group assumed coverage on Phillips 66 in a research note on Wednesday, March 8th. They issued a buy rating and a $139.00 price target for the company. Royal Bank of Canada boosted their price target on Phillips 66 from $130.00 to $132.00 and gave the company an outperform rating in a research note on Wednesday, February 8th. Finally, BMO Capital Markets boosted their price target on Phillips 66 from $120.00 to $125.00 and gave the company an outperform rating in a research note on Thursday, November 10th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $121.27.

Phillips 66 Price Performance

Phillips 66 stock opened at $101.22 on Friday. Phillips 66 has a 12 month low of $73.85 and a 12 month high of $113.53. The stock’s 50 day moving average is $103.28 and its 200-day moving average is $99.39. The company has a current ratio of 1.38, a quick ratio of 1.17 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $46.96 billion, a price-to-earnings ratio of 4.41, a PEG ratio of 0.33 and a beta of 1.37.

Phillips 66 (NYSE:PSX – Get Rating) last posted its earnings results on Tuesday, January 31st. The oil and gas company reported $4.00 EPS for the quarter, missing the consensus estimate of $4.35 by ($0.35). Phillips 66 had a net margin of 6.27% and a return on equity of 31.20%. The firm had revenue of $40.91 billion during the quarter, compared to analyst estimates of $34.30 billion. During the same period in the previous year, the company posted $2.94 EPS. Equities research analysts expect that Phillips 66 will post 15.57 EPS for the current year.

Phillips 66 Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 1st. Shareholders of record on Tuesday, February 21st were paid a dividend of $1.05 per share. The ex-dividend date was Friday, February 17th. This is a boost from Phillips 66’s previous quarterly dividend of $0.97. This represents a $4.20 annualized dividend and a yield of 4.15%. Phillips 66’s dividend payout ratio is presently 18.30%.

Insider Activity

In other news, Director Gregory Hayes purchased 10,250 shares of the company’s stock in a transaction dated Thursday, February 2nd. The stock was bought at an average cost of $97.75 per share, for a total transaction of $1,001,937.50. Following the purchase, the director now owns 14,299 shares of the company’s stock, valued at $1,397,727.25. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.74% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PSX. Bornite Capital Management LP bought a new position in shares of Phillips 66 in the 1st quarter valued at $8,639,000. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Phillips 66 by 316.2% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 6,597 shares of the oil and gas company’s stock valued at $570,000 after purchasing an additional 5,012 shares during the period. Synovus Financial Corp grew its holdings in Phillips 66 by 5.1% during the 1st quarter. Synovus Financial Corp now owns 16,257 shares of the oil and gas company’s stock worth $1,405,000 after acquiring an additional 788 shares during the period. Cibc World Market Inc. grew its holdings in Phillips 66 by 61.9% during the 1st quarter. Cibc World Market Inc. now owns 7,236 shares of the oil and gas company’s stock worth $625,000 after acquiring an additional 2,766 shares during the period. Finally, Blair William & Co. IL grew its holdings in Phillips 66 by 103.8% during the 1st quarter. Blair William & Co. IL now owns 53,538 shares of the oil and gas company’s stock worth $4,625,000 after acquiring an additional 27,267 shares during the period. 70.76% of the stock is currently owned by institutional investors.

Phillips 66 Company Profile

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Phillips 66 engages in the processing, transportation, storage, and marketing of fuels and other related products. The company operates through the following segments: Midstream, Chemicals, Refining and Marketing & Specialties. The Midstream segment provides crude oil and refined products transportation, terminaling and processing services, as well as natural gas, natural gas liquids and liquefied petroleum gas transportation, storage, processing and marketing services.