Phillips 66 (NYSE:PSX) Lowered to “Buy” Rating by Wall Street Zen

Wall Street Zen lowered shares of Phillips 66 (NYSE:PSX) from a strong-buy rating to a buy rating in a report published on Saturday morning.

Several other research firms have also recently commented on PSX. Zacks Research raised Phillips 66 from a “hold” rating to a “strong-buy” rating in a report on Monday, April 27th. Piper Sandler raised their target price on Phillips 66 from $168.00 to $177.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 8th. Wolfe Research raised their target price on Phillips 66 from $187.00 to $193.00 and gave the stock an “outperform” rating in a research report on Monday, April 6th. UBS Group raised their target price on Phillips 66 from $172.00 to $212.00 and gave the stock a “buy” rating in a research report on Thursday, April 2nd. Finally, Weiss Ratings downgraded Phillips 66 from a “buy (b-)” rating to a “hold (c)” rating in a research report on Friday, May 1st. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, Phillips 66 currently has a consensus rating of “Moderate Buy” and a consensus price target of $186.28.

Phillips 66 Trading Up 2.9%

Phillips 66 stock opened at $176.42 on Friday. The business has a 50 day moving average price of $170.79 and a two-hundred day moving average price of $151.81. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.63. The stock has a market cap of $70.73 billion, a price-to-earnings ratio of 17.38, a price-to-earnings-growth ratio of 0.26 and a beta of 0.70. Phillips 66 has a 12 month low of $109.75 and a 12 month high of $190.61.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 EPS for the quarter, beating the consensus estimate of ($0.54) by $1.03. The firm had revenue of $32.54 billion during the quarter, compared to analysts’ expectations of $35.86 billion. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.90) EPS. As a group, equities analysts forecast that Phillips 66 will post 17.64 EPS for the current year.

Phillips 66 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Monday, May 18th will be issued a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Monday, May 18th. Phillips 66’s dividend payout ratio (DPR) is currently 50.05%.

Insider Activity

In related news, CFO Kevin J. Mitchell sold 600 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $171.56, for a total transaction of $102,936.00. Following the completion of the sale, the chief financial officer directly owned 97,376 shares of the company’s stock, valued at $16,705,826.56. This trade represents a 0.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Lisa Ann Davis sold 3,800 shares of the firm’s stock in a transaction on Friday, March 13th. The shares were sold at an average price of $174.37, for a total value of $662,606.00. Following the sale, the director directly owned 8,701 shares of the company’s stock, valued at $1,517,193.37. This represents a 30.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 121,529 shares of company stock worth $20,841,455. 0.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Phillips 66

Hedge funds and other institutional investors have recently bought and sold shares of the business. Board of the Pension Protection Fund acquired a new stake in Phillips 66 during the 4th quarter valued at $26,000. Accordant Advisory Group Inc increased its holdings in Phillips 66 by 900.0% during the 4th quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 180 shares in the last quarter. Eagle Bay Advisors LLC acquired a new stake in Phillips 66 during the 4th quarter valued at $27,000. NFSG Corp increased its stake in shares of Phillips 66 by 105.6% in the 1st quarter. NFSG Corp now owns 146 shares of the oil and gas company’s stock valued at $27,000 after buying an additional 75 shares during the period. Finally, SWAN Capital LLC increased its stake in shares of Phillips 66 by 1,055.6% in the 4th quarter. SWAN Capital LLC now owns 208 shares of the oil and gas company’s stock valued at $27,000 after buying an additional 190 shares during the period. 76.93% of the stock is owned by institutional investors and hedge funds.

Phillips 66 Company Profile

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.