TD Cowen Trims Phillips 66 (NYSE:PSX) Target Price to $155.00

Phillips 66 (NYSE:PSXFree Report) had its price objective cut by TD Cowen from $164.00 to $155.00 in a report released on Friday, MarketBeat reports. They currently have a buy rating on the oil and gas company’s stock.

Other analysts also recently issued reports about the company. Argus restated a buy rating and issued a $167.00 price objective on shares of Phillips 66 in a report on Thursday, May 30th. StockNews.com downgraded Phillips 66 from a buy rating to a hold rating in a research report on Monday, May 6th. Barclays reduced their target price on Phillips 66 from $155.00 to $147.00 and set an equal weight rating on the stock in a report on Tuesday, April 30th. The Goldman Sachs Group increased their target price on shares of Phillips 66 from $152.00 to $174.00 and gave the company a buy rating in a research report on Friday, March 22nd. Finally, Mizuho dropped their price target on shares of Phillips 66 from $162.00 to $160.00 and set a neutral rating on the stock in a research report on Thursday. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $157.79.

Read Our Latest Research Report on Phillips 66

Phillips 66 Stock Performance

Shares of PSX stock opened at $138.09 on Friday. The firm has a market capitalization of $58.54 billion, a price-to-earnings ratio of 10.62, a PEG ratio of 1.95 and a beta of 1.37. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.58. The business’s 50-day moving average price is $144.60 and its 200-day moving average price is $144.33. Phillips 66 has a 12 month low of $89.74 and a 12 month high of $174.08.

Phillips 66 (NYSE:PSXGet Free Report) last posted its earnings results on Friday, April 26th. The oil and gas company reported $1.90 EPS for the quarter, missing the consensus estimate of $2.05 by ($0.15). Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. The business had revenue of $36.44 billion for the quarter, compared to analyst estimates of $35.87 billion. During the same quarter in the prior year, the business earned $4.21 earnings per share. Equities research analysts forecast that Phillips 66 will post 11.8 EPS for the current year.

Phillips 66 Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 20th were issued a $1.15 dividend. The ex-dividend date was Friday, May 17th. This represents a $4.60 annualized dividend and a yield of 3.33%. This is a positive change from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s dividend payout ratio is presently 35.38%.

Insider Activity

In related news, EVP Timothy D. Roberts sold 37,742 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $145.80, for a total value of $5,502,783.60. Following the transaction, the executive vice president now directly owns 48,365 shares in the company, valued at approximately $7,051,617. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.22% of the company’s stock.

Institutional Investors Weigh In On Phillips 66

Several hedge funds and other institutional investors have recently made changes to their positions in PSX. Crewe Advisors LLC purchased a new stake in shares of Phillips 66 in the first quarter worth approximately $25,000. Keener Financial Planning LLC bought a new stake in Phillips 66 during the first quarter worth $26,000. Ables Iannone Moore & Associates Inc. bought a new stake in Phillips 66 during the fourth quarter worth $27,000. Redmont Wealth Advisors LLC purchased a new stake in Phillips 66 in the 1st quarter valued at $28,000. Finally, First United Bank & Trust bought a new position in Phillips 66 during the 4th quarter valued at $31,000. 76.93% of the stock is owned by institutional investors.

About Phillips 66

(Get Free Report)

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.

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