Raymond James Cuts Phillips 66 (NYSE:PSX) Price Target to $140.00

Phillips 66 (NYSE:PSX) had its price objective decreased by Raymond James from $150.00 to $140.00 in a research note published on Wednesday,Benzinga reports. Raymond James currently has an outperform rating on the oil and gas company’s stock.

Several other research firms have also issued reports on PSX. Mizuho lowered their price target on Phillips 66 from $140.00 to $132.00 and set a “neutral” rating for the company in a research report on Wednesday. The Goldman Sachs Group downgraded shares of Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 price target for the company. in a research report on Thursday, March 27th. Piper Sandler cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. StockNews.com lowered Phillips 66 from a “hold” rating to a “sell” rating in a report on Sunday, March 2nd. Finally, Wells Fargo & Company increased their price objective on Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $142.21.

Phillips 66 Stock Down 5.8 %

Shares of NYSE PSX traded down $6.03 during mid-day trading on Wednesday, hitting $97.10. 2,131,382 shares of the stock traded hands, compared to its average volume of 2,864,376. The stock has a fifty day moving average price of $121.91 and a 200-day moving average price of $124.01. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. The company has a market cap of $39.59 billion, a price-to-earnings ratio of 19.62, a PEG ratio of 4.84 and a beta of 1.17. Phillips 66 has a 52 week low of $91.01 and a 52 week high of $166.74.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of $1.23 by ($1.38). Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. During the same period in the previous year, the company posted $3.09 earnings per share. Research analysts anticipate that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 4.74%. The ex-dividend date of this dividend was Monday, February 24th. Phillips 66’s dividend payout ratio (DPR) is presently 93.12%.

Institutional Trading of Phillips 66

A number of large investors have recently added to or reduced their stakes in the company. Morse Asset Management Inc purchased a new stake in shares of Phillips 66 during the 3rd quarter valued at about $493,000. Nomura Asset Management Co. Ltd. lifted its position in Phillips 66 by 3.3% in the third quarter. Nomura Asset Management Co. Ltd. now owns 132,205 shares of the oil and gas company’s stock worth $17,378,000 after buying an additional 4,211 shares during the last quarter. Neo Ivy Capital Management purchased a new position in Phillips 66 during the third quarter worth $638,000. Sunbelt Securities Inc. raised its stake in shares of Phillips 66 by 41.0% in the third quarter. Sunbelt Securities Inc. now owns 4,027 shares of the oil and gas company’s stock valued at $529,000 after acquiring an additional 1,171 shares during the period. Finally, Teachers Retirement System of The State of Kentucky lifted its holdings in shares of Phillips 66 by 35.5% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 351,186 shares of the oil and gas company’s stock worth $46,163,000 after acquiring an additional 91,918 shares during the last quarter. Institutional investors own 76.93% of the company’s stock.

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.