Mizuho Trims Phillips 66 (NYSE:PSX) Target Price to $150.00

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

Other research analysts also recently issued research reports about the company. Barclays increased their price target on Phillips 66 from $136.00 to $138.00 and gave the stock an equal weight rating in a research note on Monday, August 5th. Wells Fargo & Company lifted their target price on shares of Phillips 66 from $176.00 to $182.00 and gave the stock an overweight rating in a research note on Tuesday, September 3rd. JPMorgan Chase & Co. dropped their price target on shares of Phillips 66 from $165.00 to $162.00 and set an overweight rating on the stock in a research note on Tuesday, July 2nd. Piper Sandler cut their price objective on shares of Phillips 66 from $170.00 to $151.00 and set an overweight rating for the company in a report on Friday, June 14th. Finally, Argus reissued a buy rating and set a $167.00 target price on shares of Phillips 66 in a report on Thursday, May 30th. Six analysts have rated the stock with a hold rating and ten have issued 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 $155.29.

Phillips 66 Stock Performance

Shares of PSX stock opened at $132.56 on Monday. 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 firm has a market cap of $55.49 billion, a price-to-earnings ratio of 10.20, a P/E/G ratio of 4.53 and a beta of 1.33. Phillips 66 has a 52 week low of $107.85 and a 52 week high of $174.08. The firm’s 50-day simple moving average is $135.37 and its two-hundred day simple moving average is $143.79.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.33. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The company had revenue of $38.91 billion for the quarter, compared to analysts’ expectations of $37.79 billion. During the same quarter in the previous year, the firm posted $3.87 EPS. Phillips 66’s revenue was up 8.9% on a year-over-year basis. As a group, equities analysts forecast that Phillips 66 will post 9.25 earnings per share for the current year.

Phillips 66 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th were given a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 3.47%. The ex-dividend date of this dividend was Tuesday, August 20th. Phillips 66’s dividend payout ratio (DPR) is 35.38%.

Insider Activity at Phillips 66

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 81,937 shares of the company’s stock, valued at approximately $11,390,062.37. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.22% of the stock is currently owned by insiders.

Institutional Trading of Phillips 66

A number of hedge funds have recently made changes to their positions in PSX. Crewe Advisors LLC purchased a new stake in Phillips 66 during the first quarter valued at about $25,000. Keener Financial Planning LLC bought a new position in shares of Phillips 66 during the 1st quarter valued at about $26,000. Redmont Wealth Advisors LLC purchased a new position in shares of Phillips 66 during the 1st quarter valued at about $28,000. Ruedi Wealth Management Inc. lifted its position in Phillips 66 by 102.1% in the 1st quarter. Ruedi Wealth Management Inc. now owns 190 shares of the oil and gas company’s stock worth $31,000 after buying an additional 96 shares during the last quarter. Finally, Ables Iannone Moore & Associates Inc. purchased a new stake in Phillips 66 in the fourth quarter worth approximately $27,000. 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.