Barclays Issues Pessimistic Forecast for Phillips 66 (NYSE:PSX) Stock Price

Phillips 66 (NYSE:PSX) had its price objective lowered by Barclays from $135.00 to $106.00 in a research report sent to investors on Thursday morning,Benzinga reports. The brokerage currently has an equal weight rating on the oil and gas company’s stock.

Several other equities research analysts have also commented on the company. Mizuho cut their target price on Phillips 66 from $140.00 to $132.00 and set a “neutral” rating on the stock in a research report on Wednesday. The Goldman Sachs Group cut Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 price target on the stock. in a report on Thursday, March 27th. Wolfe Research upgraded shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective for the company in a research note on Friday, January 3rd. Wells Fargo & Company boosted their target price on shares of Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Finally, Raymond James reduced their price target on shares of Phillips 66 from $150.00 to $140.00 and set an “outperform” rating for the company in a report on Wednesday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Phillips 66 currently has an average rating of “Moderate Buy” and an average price target of $142.21.

Phillips 66 Trading Down 6.3 %

NYSE:PSX opened at $96.61 on Thursday. Phillips 66 has a 52 week low of $91.01 and a 52 week high of $166.47. 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 firm’s fifty day moving average is $121.48 and its 200-day moving average is $123.78. The firm has a market cap of $39.39 billion, a P/E ratio of 19.56, a P/E/G ratio of 4.84 and a beta of 1.17.

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

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were paid a dividend of $1.15 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $4.60 dividend on an annualized basis and a yield of 4.76%. Phillips 66’s dividend payout ratio (DPR) is currently 93.12%.

Institutional Trading of Phillips 66

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Morse Asset Management Inc bought a new position in Phillips 66 during the 3rd quarter valued at $493,000. Neo Ivy Capital Management purchased a new stake in shares of Phillips 66 in the third quarter valued at about $638,000. Sunbelt Securities Inc. raised its holdings 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 purchasing an additional 1,171 shares during the last quarter. Arete Wealth Advisors LLC bought a new position in shares of Phillips 66 during the third quarter valued at about $359,000. Finally, Invst LLC boosted its holdings in Phillips 66 by 2.4% during the third quarter. Invst LLC now owns 6,201 shares of the oil and gas company’s stock worth $815,000 after purchasing an additional 145 shares during the last quarter. 76.93% of the stock is owned by institutional investors.

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.