Phillips 66 (NYSE:PSX) Downgraded to “Hold” at StockNews.com

StockNews.com lowered shares of Phillips 66 (NYSE:PSX) from a buy rating to a hold rating in a report issued on Thursday morning.

Other equities analysts have also issued reports about the stock. Barclays raised their target price on shares of Phillips 66 from $139.00 to $155.00 and gave the stock an equal weight rating in a research report on Thursday. Piper Sandler raised their price objective on Phillips 66 from $169.00 to $187.00 and gave the stock an overweight rating in a report on Friday, April 5th. Wells Fargo & Company upped their target price on Phillips 66 from $179.00 to $191.00 and gave the stock an overweight rating in a report on Monday, April 8th. Mizuho cut their price target on Phillips 66 from $167.00 to $162.00 and set a neutral rating on the stock in a research note on Friday, April 12th. Finally, The Goldman Sachs Group upped their price objective on shares of Phillips 66 from $152.00 to $174.00 and gave the stock a buy rating in a research note on Friday, March 22nd. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Phillips 66 has an average rating of Moderate Buy and a consensus price target of $158.00.

Phillips 66 Stock Performance

Shares of Phillips 66 stock opened at $153.31 on Thursday. The company has a quick ratio of 1.02, a current ratio of 1.26 and a debt-to-equity ratio of 0.56. The stock’s fifty day moving average is $154.22 and its two-hundred day moving average is $135.06. Phillips 66 has a 52 week low of $89.74 and a 52 week high of $174.08. The company has a market capitalization of $65.59 billion, a PE ratio of 9.91, a price-to-earnings-growth ratio of 1.98 and a beta of 1.37.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Wednesday, January 31st. The oil and gas company reported $3.09 EPS for the quarter, topping analysts’ consensus estimates of $2.37 by $0.72. The firm had revenue of $38.74 billion for the quarter, compared to analysts’ expectations of $34.30 billion. Phillips 66 had a net margin of 4.68% and a return on equity of 22.10%. As a group, analysts expect that Phillips 66 will post 13.25 earnings per share for the current year.

Phillips 66 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be given a dividend of $1.15 per share. The ex-dividend date of this dividend is Friday, May 17th. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.00%. Phillips 66’s dividend payout ratio is presently 27.15%.

Insider Activity

In other Phillips 66 news, Director Robert W. Pease bought 682 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The shares were purchased at an average cost of $146.58 per share, for a total transaction of $99,967.56. Following the purchase, the director now directly owns 1,900 shares in the company, valued at $278,502. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Richard G. Harbison sold 21,934 shares of Phillips 66 stock in a transaction on Monday, February 12th. The shares were sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the completion of the sale, the executive vice president now directly owns 24,941 shares in the company, valued at $3,648,120.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robert W. Pease acquired 682 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were bought at an average cost of $146.58 per share, for a total transaction of $99,967.56. Following the completion of the acquisition, the director now directly owns 1,900 shares of the company’s stock, valued at $278,502. The disclosure for this purchase can be found here. In the last quarter, insiders sold 35,056 shares of company stock worth $5,272,681. Insiders own 0.22% of the company’s stock.

Institutional Trading of Phillips 66

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Capital Advisors Group LLC. acquired a new stake in shares of Phillips 66 during the second quarter worth about $25,000. Ables Iannone Moore & Associates Inc. acquired a new stake in Phillips 66 during the 4th quarter valued at approximately $27,000. Main Street Group LTD purchased a new stake in shares of Phillips 66 in the 4th quarter valued at $28,000. First United Bank & Trust acquired a new stake in shares of Phillips 66 in the fourth quarter worth $31,000. Finally, Cornerstone Planning Group LLC raised its holdings in shares of Phillips 66 by 134.8% during the third quarter. Cornerstone Planning Group LLC now owns 263 shares of the oil and gas company’s stock worth $32,000 after purchasing an additional 151 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.