Barclays Cuts Phillips 66 (NYSE:PSX) Price Target to $124.00

Phillips 66 (NYSE:PSX) had its price objective lowered by Barclays from $133.00 to $124.00 in a research report sent to investors on Monday morning,Benzinga reports. The brokerage currently has an equal weight rating on the oil and gas company’s stock.

A number of other equities analysts have also recently issued reports on PSX. Mizuho cut their price target on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Piper Sandler set a $144.00 price target on shares of Phillips 66 in a report on Thursday, October 17th. Morgan Stanley dropped their price objective on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. Scotiabank reduced their target price on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Finally, UBS Group dropped their price target on Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, Phillips 66 currently has a consensus rating of “Moderate Buy” and an average price target of $149.69.

Phillips 66 Trading Up 1.7 %

PSX opened at $129.92 on Monday. Phillips 66 has a twelve month low of $111.90 and a twelve month high of $174.08. The company has a fifty day moving average of $129.73 and a 200-day moving average of $136.04. The stock has a market cap of $53.66 billion, a PE ratio of 16.68, a price-to-earnings-growth ratio of 4.18 and a beta of 1.33. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.41. The firm had revenue of $36.16 billion during the quarter, compared to the consensus estimate of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The business’s revenue was down 10.3% compared to the same quarter last year. During the same period last year, the business posted $4.63 EPS. On average, sell-side analysts predict that Phillips 66 will post 7.63 EPS for the current year.

Phillips 66 Announces Dividend

The company 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 is Monday, November 18th. This represents a $4.60 annualized dividend and a dividend yield of 3.54%. Phillips 66’s payout ratio is 59.05%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in PSX. Mitchell & Pahl Private Wealth LLC lifted its position in shares of Phillips 66 by 0.4% during the 2nd quarter. Mitchell & Pahl Private Wealth LLC now owns 17,847 shares of the oil and gas company’s stock worth $2,519,000 after buying an additional 74 shares in the last quarter. Catalyst Financial Partners LLC lifted its holdings in 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 acquiring an additional 74 shares during the period. Advisory Alpha LLC boosted its position in Phillips 66 by 4.8% in the second quarter. Advisory Alpha LLC now owns 1,648 shares of the oil and gas company’s stock worth $233,000 after purchasing an additional 76 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC grew its stake in Phillips 66 by 1.8% in the 2nd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,363 shares of the oil and gas company’s stock valued at $616,000 after purchasing an additional 77 shares during the period. Finally, Krane Funds Advisors LLC increased its position in shares of Phillips 66 by 3.6% during the 3rd quarter. Krane Funds Advisors LLC now owns 2,350 shares of the oil and gas company’s stock valued at $309,000 after purchasing an additional 82 shares during 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.