Phillips 66 (NYSE:PSX) Price Target Lowered to $138.00 at UBS Group

Phillips 66 (NYSE:PSX) had its price target cut by UBS Group from $150.00 to $138.00 in a research report sent to investors on Monday, Benzinga reports. They currently have a buy rating on the oil and gas company’s stock.

A number of other analysts also recently issued reports on the company. TD Cowen reduced their price objective on Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. JPMorgan Chase & Co. reduced their target price on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 2nd. Barclays dropped their price target on shares of Phillips 66 from $138.00 to $133.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 8th. Bank of America started coverage on shares of Phillips 66 in a research report on Thursday, October 17th. They issued a “buy” rating and a $156.00 price objective on the stock. Finally, Wells Fargo & Company reduced 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. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $150.38.

Phillips 66 Stock Performance

Shares of NYSE:PSX traded up $0.17 during mid-day trading on Monday, reaching $121.20. 172,320 shares of the company traded hands, compared to its average volume of 2,661,333. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. Phillips 66 has a 52 week low of $110.54 and a 52 week high of $174.08. The company’s 50 day moving average price is $130.98 and its 200-day moving average price is $137.30. The firm has a market cap of $50.05 billion, a PE ratio of 15.54, a PEG ratio of 3.90 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, topping the consensus estimate of $1.63 by $0.41. The business had revenue of $36.16 billion for the quarter, compared to analysts’ expectations of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. During the same quarter in the previous year, the company earned $4.63 EPS. The business’s quarterly revenue was down 10.3% compared to the same quarter last year. On average, equities analysts expect that Phillips 66 will post 7.69 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently announced 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. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.80%. Phillips 66’s payout ratio is 59.05%.

Insider Buying and Selling

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the company’s stock in a transaction that occurred on 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 sale, the chief financial officer now owns 81,937 shares in the company, valued at approximately $11,390,062.37. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.22% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PSX. Manning & Napier Advisors LLC acquired a new position in shares of Phillips 66 during the 2nd quarter worth approximately $17,670,000. M&G Plc purchased a new position in Phillips 66 in the 2nd quarter valued at about $3,596,000. Duality Advisers LP purchased a new position in Phillips 66 in the 1st quarter valued at about $3,596,000. BI Asset Management Fondsmaeglerselskab A S boosted its holdings in Phillips 66 by 69.8% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 37,802 shares of the oil and gas company’s stock worth $6,175,000 after buying an additional 15,542 shares during the last quarter. Finally, Meeder Asset Management Inc. purchased a new stake in Phillips 66 during the 1st quarter worth approximately $1,283,000. 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.