Phillips 66 (NYSE:PSX) Price Target Lowered to $141.00 at JPMorgan Chase & Co.

Phillips 66 (NYSE:PSX) had its target price decreased by JPMorgan Chase & Co. from $160.00 to $141.00 in a research report sent to investors on Wednesday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the oil and gas company’s stock.

PSX has been the topic of several other reports. Piper Sandler cut their target price on shares of Phillips 66 from $151.00 to $136.00 and set an overweight rating on the stock in a research report on Friday, September 20th. TD Cowen reduced their price objective on shares of Phillips 66 from $162.00 to $150.00 and set a buy rating on the stock in a research note on Wednesday, September 11th. Mizuho decreased their price objective on Phillips 66 from $154.00 to $150.00 and set a neutral rating for the company in a report on Monday, September 16th. Wolfe Research began coverage on Phillips 66 in a report on Thursday, July 18th. They set a peer perform rating on the stock. Finally, Scotiabank decreased their price target on Phillips 66 from $156.00 to $145.00 and set a sector outperform rating for the company in a research note on Friday, July 12th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $152.71.

Phillips 66 Stock Down 0.2 %

Shares of PSX opened at $138.62 on Wednesday. The stock has a market capitalization of $58.77 billion, a price-to-earnings ratio of 10.66, a PEG ratio of 5.28 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 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 has a fifty day moving average of $133.83 and a 200-day moving average of $142.29.

Phillips 66 (NYSE:PSX) last posted its earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 EPS for the quarter, beating the consensus estimate of $1.98 by $0.33. The firm had revenue of $38.91 billion during 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 quarterly revenue was up 8.9% on a year-over-year basis. During the same period last year, the company earned $3.87 earnings per share. As a group, sell-side analysts anticipate that Phillips 66 will post 8.27 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th were given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 3.32%. The ex-dividend date of this dividend was Tuesday, August 20th. 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 stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the transaction, the chief financial officer now directly owns 81,937 shares of the company’s stock, valued at $11,390,062.37. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.22% of the stock is currently owned by company insiders.

Institutional Trading of Phillips 66

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quent Capital LLC boosted its holdings in Phillips 66 by 11.1% in the third quarter. Quent Capital LLC now owns 2,251 shares of the oil and gas company’s stock worth $296,000 after acquiring an additional 224 shares in the last quarter. Mirador Capital Partners LP raised its position in shares of Phillips 66 by 2.9% during the third quarter. Mirador Capital Partners LP now owns 47,549 shares of the oil and gas company’s stock worth $6,250,000 after purchasing an additional 1,325 shares during the period. Eldred Rock Partners LLC lifted its holdings in shares of Phillips 66 by 4.2% in the 3rd quarter. Eldred Rock Partners LLC now owns 85,718 shares of the oil and gas company’s stock worth $11,268,000 after purchasing an additional 3,462 shares in the last quarter. Biltmore Wealth Management LLC grew its position in Phillips 66 by 5.1% in the 3rd quarter. Biltmore Wealth Management LLC now owns 3,568 shares of the oil and gas company’s stock valued at $469,000 after purchasing an additional 172 shares during the period. Finally, Duncan Williams Asset Management LLC increased its stake in Phillips 66 by 16.1% during the 3rd quarter. Duncan Williams Asset Management LLC now owns 2,322 shares of the oil and gas company’s stock valued at $305,000 after purchasing an additional 322 shares in the last quarter. 76.93% of the stock is owned by 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.