Phillips 66 (NYSE:PSX) Downgraded by StockNews.com to Hold

StockNews.com lowered shares of Phillips 66 (NYSE:PSX) from a buy rating to a hold rating in a research report released on Saturday morning.

Several other analysts also recently issued reports on the company. Piper Sandler boosted their price objective on Phillips 66 from $169.00 to $187.00 and gave the stock an overweight rating in a report on Friday, April 5th. Bank of America upped their target price on Phillips 66 from $150.00 to $180.00 and gave the company a neutral rating in a report on Friday, March 15th. Mizuho dropped their target price on Phillips 66 from $167.00 to $162.00 and set a neutral rating on the stock in a report on Friday, April 12th. Wells Fargo & Company upped their target price on Phillips 66 from $179.00 to $191.00 and gave the company an overweight rating in a report on Monday, April 8th. Finally, Scotiabank upped their target price on Phillips 66 from $148.00 to $156.00 and gave the company a sector outperform rating in a report on Thursday, April 11th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $158.00.

Phillips 66 Price Performance

NYSE PSX opened at $151.41 on Friday. The stock’s 50-day moving average price is $155.55 and its two-hundred day moving average price is $137.06. 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 $64.78 billion, a PE ratio of 11.65, a PEG ratio of 1.83 and a beta of 1.37. Phillips 66 has a 1 year low of $89.74 and a 1 year high of $174.08.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.05 by ($0.15). The company had revenue of $36.44 billion for the quarter, compared to analyst estimates of $35.87 billion. Phillips 66 had a return on equity of 22.10% and a net margin of 4.68%. During the same quarter in the previous year, the firm posted $4.21 EPS. On average, analysts predict that Phillips 66 will post 13.77 EPS for the current year.

Phillips 66 Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be issued a $1.15 dividend. The ex-dividend date is Friday, May 17th. This represents a $4.60 dividend on an annualized basis and a yield of 3.04%. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s dividend payout ratio is currently 32.31%.

Insider Buying and Selling

In related news, VP Joseph Scott Pruitt sold 7,200 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $157.26, for a total value of $1,132,272.00. Following the transaction, the vice president now owns 6,583 shares in the company, valued at $1,035,242.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Phillips 66 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 completion of the sale, the vice president now owns 6,583 shares of the company’s stock, valued at $1,035,242.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert W. Pease bought 682 shares of the firm’s stock in a transaction on Thursday, February 15th. The shares were bought at an average cost of $146.58 per share, with a total value of $99,967.56. Following 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. Over the last quarter, insiders have sold 35,056 shares of company stock worth $5,272,681. Insiders own 0.22% of the company’s stock.

Institutional Investors Weigh In On Phillips 66

Large investors have recently added to or reduced their stakes in the stock. DekaBank Deutsche Girozentrale boosted its position in Phillips 66 by 12.4% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 201,592 shares of the oil and gas company’s stock worth $26,501,000 after purchasing an additional 22,278 shares during the period. Eldred Rock Partners LLC bought a new stake in Phillips 66 during the fourth quarter worth approximately $10,402,000. Choate Investment Advisors bought a new stake in Phillips 66 during the third quarter worth approximately $247,000. First Dallas Securities Inc. bought a new stake in shares of Phillips 66 in the third quarter valued at approximately $753,000. Finally, TIAA Trust National Association boosted its position in shares of Phillips 66 by 32.9% in the fourth quarter. TIAA Trust National Association now owns 14,816 shares of the oil and gas company’s stock valued at $1,973,000 after acquiring an additional 3,670 shares during the period. 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.