Phillips 66 (NYSE:PSX) Given New $162.00 Price Target at Mizuho

Phillips 66 (NYSE:PSX) had its target price cut by Mizuho from $167.00 to $162.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have a neutral rating on the oil and gas company’s stock.

Several other brokerages also recently commented on PSX. JPMorgan Chase & Co. boosted their target price on Phillips 66 from $149.00 to $167.00 and gave the stock an overweight rating in a research note on Monday, April 1st. Citigroup began coverage on Phillips 66 in a report on Wednesday, January 24th. They set a buy rating on the stock. Piper Sandler boosted their price target on Phillips 66 from $169.00 to $187.00 and gave the stock an overweight rating in a report on Friday, April 5th. Raymond James boosted their price target on Phillips 66 from $140.00 to $155.00 and gave the stock an outperform rating in a report on Thursday, February 1st. Finally, The Goldman Sachs Group upped their target price on Phillips 66 from $152.00 to $174.00 and gave the company a buy rating in a report on Friday, March 22nd. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $156.86.

Phillips 66 Stock Down 1.0 %

Shares of NYSE PSX opened at $160.82 on Friday. The company has a current ratio of 1.26, a quick ratio of 1.02 and a debt-to-equity ratio of 0.56. The company has a market cap of $68.80 billion, a price-to-earnings ratio of 10.40, a PEG ratio of 2.05 and a beta of 1.37. Phillips 66 has a 12 month low of $89.74 and a 12 month high of $174.08. The stock has a 50-day moving average price of $153.64 and a two-hundred day moving average price of $134.51.

Phillips 66 (NYSE:PSX) last issued its earnings results on Wednesday, January 31st. The oil and gas company reported $3.09 EPS for the quarter, topping the consensus estimate of $2.37 by $0.72. The firm had revenue of $38.74 billion during the quarter, compared to the consensus estimate of $34.30 billion. Phillips 66 had a return on equity of 22.10% and a net margin of 4.68%. As a group, analysts forecast that Phillips 66 will post 13.2 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.86%. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend is Friday, May 17th. Phillips 66’s dividend payout ratio is presently 27.15%.

Insiders Place Their Bets

In other news, VP Joseph Scott Pruitt sold 7,200 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $157.26, for a total transaction of $1,132,272.00. Following the transaction, the vice president now directly owns 6,583 shares of the company’s stock, valued at $1,035,242.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Joseph Scott Pruitt sold 7,200 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $157.26, for a total transaction of $1,132,272.00. Following the transaction, the vice president now directly owns 6,583 shares of the company’s stock, valued at $1,035,242.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert W. Pease bought 682 shares of the stock in a transaction dated Thursday, February 15th. The shares were purchased at an average cost of $146.58 per share, for a total transaction of $99,967.56. Following the completion of the transaction, the director now directly owns 1,900 shares of the company’s stock, valued at $278,502. The disclosure for this purchase can be found here. In the last three months, insiders have sold 35,056 shares of company stock worth $5,272,681. Corporate insiders own 0.22% of the company’s stock.

Institutional Investors Weigh In On Phillips 66

Institutional investors and hedge funds have recently bought and sold shares of the stock. DekaBank Deutsche Girozentrale raised its position in Phillips 66 by 12.4% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 201,592 shares of the oil and gas company’s stock valued at $26,501,000 after buying an additional 22,278 shares during the last quarter. Eldred Rock Partners LLC purchased a new stake in Phillips 66 in the 4th quarter valued at $10,402,000. Choate Investment Advisors purchased a new stake in Phillips 66 in the 3rd quarter valued at $247,000. First Dallas Securities Inc. bought a new position in Phillips 66 in the 3rd quarter valued at $753,000. Finally, TIAA Trust National Association grew its stake in Phillips 66 by 32.9% in the 4th quarter. TIAA Trust National Association now owns 14,816 shares of the oil and gas company’s stock valued at $1,973,000 after purchasing an additional 3,670 shares during the period. 76.93% of the stock is owned by hedge funds and other 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.