Barclays Lowers Phillips 66 (NYSE:PSX) Price Target to $147.00

Phillips 66 (NYSE:PSX) had its target price lowered by Barclays from $155.00 to $147.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has an equal weight rating on the oil and gas company’s stock.

Several other analysts have also recently issued reports on the company. StockNews.com cut Phillips 66 from a buy rating to a hold rating in a research note on Saturday, April 27th. JPMorgan Chase & Co. lifted their price objective on shares of Phillips 66 from $149.00 to $167.00 and gave the stock an overweight rating in a report on Monday, April 1st. Bank of America boosted their target price on shares of Phillips 66 from $150.00 to $180.00 and gave the company a neutral rating in a research note on Friday, March 15th. Raymond James lifted their price target on shares of Phillips 66 from $140.00 to $155.00 and gave the company an outperform rating in a report on Thursday, February 1st. Finally, The Goldman Sachs Group increased 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 equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $157.43.

Phillips 66 Stock Performance

Phillips 66 stock opened at $143.61 on Tuesday. Phillips 66 has a 52 week low of $89.74 and a 52 week high of $174.08. The company has a current ratio of 1.17, a quick ratio of 1.02 and a debt-to-equity ratio of 0.58. The stock has a market cap of $60.88 billion, a P/E ratio of 11.05, a price-to-earnings-growth ratio of 1.77 and a beta of 1.41. The stock has a 50 day moving average of $155.62 and a 200-day moving average of $137.81.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.90 EPS for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). The company had revenue of $36.44 billion for the quarter, compared to the consensus estimate of $35.87 billion. Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. During the same quarter last year, the company earned $4.21 earnings per share. On average, analysts expect that Phillips 66 will post 13.17 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be paid a dividend of $1.15 per share. The ex-dividend date of this dividend is Friday, May 17th. This represents a $4.60 annualized dividend and a yield of 3.20%. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s payout ratio is presently 32.31%.

Insider Transactions at Phillips 66

In related news, VP Joseph Scott Pruitt sold 7,200 shares of Phillips 66 stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $157.26, for a total transaction of $1,132,272.00. Following the sale, the vice president now directly owns 6,583 shares in the company, valued at $1,035,242.58. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, VP Joseph Scott Pruitt sold 7,200 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $157.26, for a total transaction of $1,132,272.00. Following the transaction, the vice president now owns 6,583 shares in the company, valued at $1,035,242.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Richard G. Harbison sold 21,934 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $146.27, for a total value of $3,208,286.18. Following the completion of the sale, the executive vice president now owns 24,941 shares of the company’s stock, valued at $3,648,120.07. The disclosure for this sale can be found here. Over the last quarter, insiders sold 35,056 shares of company stock valued at $5,272,681. 0.22% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Phillips 66

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Redmont Wealth Advisors LLC bought a new stake in shares of Phillips 66 in the 1st quarter worth approximately $28,000. Ables Iannone Moore & Associates Inc. bought a new position in shares of Phillips 66 in the fourth quarter valued at $27,000. First United Bank & Trust acquired a new stake in shares of Phillips 66 during the 4th quarter valued at $31,000. Rise Advisors LLC bought a new stake in shares of Phillips 66 during the 1st quarter worth $40,000. Finally, Signature Resources Capital Management LLC acquired a new position in shares of Phillips 66 in the 4th quarter worth $33,000. 76.93% of the stock is currently 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.