Phillips 66 (NYSE:PSX) Price Target Lowered to $136.00 at Scotiabank

Phillips 66 (NYSE:PSX) had its target price lowered by Scotiabank from $145.00 to $136.00 in a report released on Thursday, Benzinga reports. Scotiabank currently has a sector outperform rating on the oil and gas company’s stock.

Several other equities analysts have also recently commented on PSX. Wolfe Research initiated coverage on shares of Phillips 66 in a research report on Thursday, July 18th. They issued a peer perform rating for the company. Piper Sandler boosted their target price on Phillips 66 from $136.00 to $144.00 and gave the stock an overweight rating in a research note on Tuesday, October 8th. Wells Fargo & Company cut their price target on Phillips 66 from $182.00 to $167.00 and set an overweight rating on the stock in a report on Wednesday, October 9th. TD Cowen decreased their price objective on Phillips 66 from $162.00 to $150.00 and set a buy rating for the company in a research note on Wednesday, September 11th. Finally, Raymond James upped their target price on shares of Phillips 66 from $150.00 to $155.00 and gave the stock an outperform rating in a research note on Wednesday, July 31st. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $151.21.

Phillips 66 Stock Down 0.1 %

NYSE:PSX opened at $136.35 on Thursday. Phillips 66 has a 52 week low of $107.85 and a 52 week high of $174.08. The company has a quick ratio of 0.79, a current ratio of 1.14 and a debt-to-equity ratio of 0.56. The stock’s fifty day moving average is $133.24 and its two-hundred day moving average is $141.38. The stock has a market capitalization of $57.81 billion, a price-to-earnings ratio of 10.49, a price-to-earnings-growth ratio of 5.48 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last announced its earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $0.33. The company had revenue of $38.91 billion during the quarter, compared to analysts’ expectations of $37.79 billion. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. Phillips 66’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same period last year, the business posted $3.87 EPS. Research analysts anticipate that Phillips 66 will post 8.19 EPS for the current year.

Phillips 66 Announces Dividend

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

Insider Buying and Selling at Phillips 66

In other news, CFO Kevin J. Mitchell sold 30,000 shares of Phillips 66 stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the sale, the chief financial officer now owns 81,937 shares in the company, valued at approximately $11,390,062.37. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.22% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PSX. Madison Park Capital Advisors LLC grew its position in shares of Phillips 66 by 3.0% during the first quarter. Madison Park Capital Advisors LLC now owns 2,346 shares of the oil and gas company’s stock worth $383,000 after acquiring an additional 68 shares during the last quarter. MV Capital Management Inc. increased its holdings in shares of Phillips 66 by 9.6% in the first quarter. MV Capital Management Inc. now owns 837 shares of the oil and gas company’s stock valued at $137,000 after purchasing an additional 73 shares during the period. Mitchell & Pahl Private Wealth LLC increased its holdings in shares of Phillips 66 by 0.4% in the second quarter. Mitchell & Pahl Private Wealth LLC now owns 17,847 shares of the oil and gas company’s stock valued at $2,519,000 after purchasing an additional 74 shares during the period. Catalyst Financial Partners LLC lifted its holdings in shares of Phillips 66 by 5.1% during the second quarter. Catalyst Financial Partners LLC now owns 1,514 shares of the oil and gas company’s stock worth $214,000 after purchasing an additional 74 shares during the period. Finally, Claro Advisors LLC grew its position in Phillips 66 by 4.5% in the 1st quarter. Claro Advisors LLC now owns 1,738 shares of the oil and gas company’s stock valued at $284,000 after buying an additional 75 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

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.