Phillips 66 (NYSE:PSX) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Phillips 66 (NYSE:PSX) from a sell rating to a hold rating in a research report released on Saturday morning.

Several other brokerages have also weighed in on PSX. Piper Sandler lowered Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Barclays cut their target price on Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price on the stock in a research report on Friday, January 3rd. UBS Group cut their price objective on Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Finally, Wells Fargo & Company raised their price objective on Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, Phillips 66 currently has a consensus rating of “Moderate Buy” and an average price target of $148.00.

Phillips 66 Price Performance

PSX stock opened at $128.78 on Friday. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $53.18 billion, a price-to-earnings ratio of 26.07, a price-to-earnings-growth ratio of 4.84 and a beta of 1.37. The stock’s fifty day simple moving average is $119.17 and its 200-day simple moving average is $127.07. Phillips 66 has a 52-week low of $108.90 and a 52-week high of $174.08.

Phillips 66 (NYSE:PSX) last issued its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of $1.23 by ($1.38). Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. During the same period in the previous year, the business earned $3.09 earnings per share. Equities research analysts expect that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th will be given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date is Monday, February 24th. Phillips 66’s payout ratio is 93.12%.

Institutional Trading of Phillips 66

A number of hedge funds and other institutional investors have recently modified their holdings of PSX. Price T Rowe Associates Inc. MD increased its position in shares of Phillips 66 by 283.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,026,649 shares of the oil and gas company’s stock worth $686,618,000 after acquiring an additional 4,455,220 shares during the last quarter. Norges Bank purchased a new stake in shares of Phillips 66 during the fourth quarter worth about $497,648,000. Mizuho Securities USA LLC increased its position in shares of Phillips 66 by 7,549.0% during the third quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock worth $328,625,000 after acquiring an additional 2,467,316 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Phillips 66 during the fourth quarter worth about $168,790,000. Finally, Capitolis Liquid Global Markets LLC acquired a new position in Phillips 66 in the fourth quarter worth about $142,185,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

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.