Phillips 66 (NYSE:PSX) PT Lowered to $167.00 at Wells Fargo & Company

Phillips 66 (NYSE:PSX) had its price target reduced by Wells Fargo & Company from $182.00 to $167.00 in a report issued on Wednesday morning, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the oil and gas company’s stock.

Several other equities research analysts have also weighed in on PSX. Piper Sandler upped their price objective on Phillips 66 from $136.00 to $144.00 and gave the company an overweight rating in a research note on Tuesday. JPMorgan Chase & Co. dropped their price objective on Phillips 66 from $160.00 to $141.00 and set an overweight rating for the company in a research note on Wednesday, October 2nd. Mizuho lowered their target price on shares of Phillips 66 from $154.00 to $150.00 and set a neutral rating on the stock in a report on Monday, September 16th. Scotiabank cut their price target on shares of Phillips 66 from $156.00 to $145.00 and set a sector outperform rating for the company in a report on Friday, July 12th. Finally, Morgan Stanley dropped their price objective on shares of Phillips 66 from $150.00 to $144.00 and set an equal weight rating for the company in a report on Monday, September 16th. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Phillips 66 presently has an average rating of Moderate Buy and a consensus target price of $151.21.

Phillips 66 Trading Down 0.1 %

Shares of NYSE:PSX opened at $136.35 on Wednesday. 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’s 50-day moving average is $133.24 and its 200-day moving average is $141.61. The company has a market cap of $57.81 billion, a P/E ratio of 10.49, a P/E/G ratio of 5.48 and a beta of 1.33. Phillips 66 has a 52-week low of $107.85 and a 52-week high of $174.08.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $37.79 billion. During the same period last year, the business posted $3.87 EPS. The business’s quarterly revenue was up 8.9% on a year-over-year basis. Equities research analysts predict that Phillips 66 will post 8.19 earnings per share for the current year.

Phillips 66 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.37%. Phillips 66’s dividend payout ratio (DPR) is currently 35.38%.

Insider Buying and Selling

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $139.01, for a total value of $4,170,300.00. Following the transaction, the chief financial officer now owns 81,937 shares of the company’s stock, valued at approximately $11,390,062.37. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.22% of the stock is owned by insiders.

Institutional Investors Weigh In On Phillips 66

Several hedge funds have recently bought and sold shares of the company. Crewe Advisors LLC acquired a new stake in shares of Phillips 66 during the first quarter worth about $25,000. Keener Financial Planning LLC acquired a new stake in Phillips 66 during the 1st quarter worth approximately $26,000. Redmont Wealth Advisors LLC bought a new position in Phillips 66 in the first quarter valued at approximately $28,000. Ruedi Wealth Management Inc. boosted its holdings in shares of Phillips 66 by 102.1% in the first quarter. Ruedi Wealth Management Inc. now owns 190 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 96 shares during the period. Finally, Ables Iannone Moore & Associates Inc. acquired a new stake in shares of Phillips 66 during the fourth quarter worth $27,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

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.