Phillips 66 (NYSE:PSX) Price Target Cut to $147.00 by Analysts at Barclays

Phillips 66 (NYSE:PSX) had its price objective decreased by Barclays from $155.00 to $147.00 in a research note issued to investors on Tuesday, Benzinga reports. Barclays currently has an equal weight rating on the oil and gas company’s stock.

PSX has been the subject of a number of other research reports. The Goldman Sachs Group lifted their price objective 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. Raymond James lifted their target price on shares of Phillips 66 from $140.00 to $155.00 and gave the stock an outperform rating in a report on Thursday, February 1st. Citigroup began coverage on shares of Phillips 66 in a report on Wednesday, January 24th. They set a buy rating for the company. Piper Sandler lifted their target price on shares of Phillips 66 from $169.00 to $187.00 and gave the stock an overweight rating in a report on Friday, April 5th. Finally, Mizuho reduced their target price on shares of Phillips 66 from $167.00 to $162.00 and set a neutral rating for the company in a report on Friday, April 12th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, Phillips 66 currently has a consensus rating of Moderate Buy and a consensus target price of $157.43.

Phillips 66 Stock Down 5.6 %

Phillips 66 stock opened at $143.09 on Tuesday. The company has a market cap of $61.22 billion, a P/E ratio of 11.01, a price-to-earnings-growth ratio of 1.83 and a beta of 1.37. Phillips 66 has a 1-year low of $89.74 and a 1-year high of $174.08. The company has a fifty day simple moving average of $155.74 and a 200 day simple moving average of $137.75. The company has a current ratio of 1.26, a quick ratio of 1.02 and a debt-to-equity ratio of 0.56.

Phillips 66 (NYSE:PSX) last released its earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). The business had revenue of $36.44 billion during the quarter, compared to the consensus estimate of $35.87 billion. Phillips 66 had a net margin of 3.84% and a return on equity of 19.07%. During the same period last year, the business posted $4.21 EPS. Research analysts anticipate that Phillips 66 will post 13.77 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be given a $1.15 dividend. The ex-dividend date of this dividend is Friday, May 17th. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 annualized dividend and a dividend yield of 3.21%. Phillips 66’s payout ratio is presently 32.31%.

Insider Activity

In other news, EVP Richard G. Harbison sold 21,934 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $146.27, for a total value of $3,208,286.18. Following the completion of the transaction, the executive vice president now directly owns 24,941 shares in the company, valued at approximately $3,648,120.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Robert W. Pease acquired 682 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was acquired at an average cost of $146.58 per share, for a total transaction of $99,967.56. Following the transaction, the director now directly owns 1,900 shares in the company, valued at $278,502. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Richard G. Harbison sold 21,934 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the sale, the executive vice president now directly owns 24,941 shares in the company, valued at $3,648,120.07. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,056 shares of company stock worth $5,272,681. 0.22% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Phillips 66

Institutional investors have recently added to or reduced their stakes in the business. Ables Iannone Moore & Associates Inc. bought a new stake in Phillips 66 during the 4th quarter worth approximately $27,000. Redmont Wealth Advisors LLC bought a new stake in Phillips 66 during the 1st quarter worth approximately $28,000. First United Bank & Trust bought a new stake in Phillips 66 during the 4th quarter worth approximately $31,000. Cornerstone Planning Group LLC grew its holdings in Phillips 66 by 134.8% during the 3rd quarter. Cornerstone Planning Group LLC now owns 263 shares of the oil and gas company’s stock worth $32,000 after acquiring an additional 151 shares during the last quarter. Finally, Signature Resources Capital Management LLC bought a new stake in shares of Phillips 66 in the 4th quarter valued at $33,000. 76.93% of the stock is 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.