TD Cowen Lowers Phillips 66 (NYSE:PSX) Price Target to $114.00

Phillips 66 (NYSE:PSX) had its price target cut by TD Cowen from $127.00 to $114.00 in a report released on Monday, MarketBeat reports. They currently have a buy rating on the oil and gas company’s stock.

Several other research analysts have also recently commented on the company. Wolfe Research upgraded Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target on the stock in a research note on Friday, January 3rd. StockNews.com lowered Phillips 66 from a “hold” rating to a “sell” rating in a report on Sunday, March 2nd. Mizuho lowered their price objective on Phillips 66 from $140.00 to $132.00 and set a “neutral” rating for the company in a report on Wednesday, April 9th. Wells Fargo & Company boosted their price objective on Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Finally, The Goldman Sachs Group lowered Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 price objective for the company. in a report on Thursday, March 27th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Phillips 66 presently has a consensus rating of “Moderate Buy” and an average price target of $137.07.

Phillips 66 Trading Up 1.8 %

NYSE:PSX opened at $105.80 on Monday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. Phillips 66 has a one year low of $91.01 and a one year high of $152.19. The business’s 50-day simple moving average is $115.31 and its 200 day simple moving average is $120.83. The stock has a market cap of $43.11 billion, a price-to-earnings ratio of 21.42, a price-to-earnings-growth ratio of 4.84 and a beta of 1.17.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Friday, April 25th. The oil and gas company reported ($0.90) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.97). Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. The business had revenue of $31.92 billion during the quarter, compared to analyst estimates of $31.93 billion. During the same quarter last year, the firm posted $1.90 EPS. As a group, sell-side analysts predict that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be issued a dividend of $1.20 per share. The ex-dividend date of this dividend is Monday, May 19th. This is a positive change from Phillips 66’s previous quarterly dividend of $1.15. This represents a $4.80 annualized dividend and a dividend yield of 4.54%. Phillips 66’s dividend payout ratio is 97.17%.

Institutional Trading of Phillips 66

Large investors have recently added to or reduced their stakes in the business. Morse Asset Management Inc acquired a new position in shares of Phillips 66 during the third quarter valued at $493,000. Invst LLC raised its stake in shares of Phillips 66 by 2.4% during the third quarter. Invst LLC now owns 6,201 shares of the oil and gas company’s stock valued at $815,000 after purchasing an additional 145 shares in the last quarter. Advisory Resource Group raised its stake in shares of Phillips 66 by 4.3% during the third quarter. Advisory Resource Group now owns 241,527 shares of the oil and gas company’s stock valued at $31,749,000 after purchasing an additional 9,930 shares in the last quarter. World Investment Advisors LLC bought a new stake in shares of Phillips 66 during the third quarter valued at about $796,000. Finally, Arvest Bank Trust Division bought a new stake in shares of Phillips 66 during the third quarter valued at about $1,008,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

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.