Phillips 66 (NYSE:PSX) Given New $150.00 Price Target at Mizuho

Phillips 66 (NYSE:PSX) had its price objective reduced by Mizuho from $154.00 to $150.00 in a research report sent to investors on Monday morning, Benzinga reports. They currently have a neutral rating on the oil and gas company’s stock.

Several other equities research analysts also recently commented on the company. Piper Sandler reduced their price objective on Phillips 66 from $170.00 to $151.00 and set an overweight rating for the company in a report on Friday, June 14th. Argus reiterated a buy rating and issued a $167.00 price target on shares of Phillips 66 in a research note on Thursday, May 30th. Scotiabank lowered their price objective on shares of Phillips 66 from $156.00 to $145.00 and set a sector outperform rating on the stock in a research report on Friday, July 12th. Barclays raised their target price on shares of Phillips 66 from $136.00 to $138.00 and gave the stock an equal weight rating in a report on Monday, August 5th. Finally, Raymond James boosted their target price on shares of Phillips 66 from $150.00 to $155.00 and gave the company an outperform rating in a research note on Wednesday, July 31st. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $155.29.

Phillips 66 Trading Up 0.5 %

NYSE:PSX opened at $127.32 on Monday. The stock has a market cap of $53.29 billion, a price-to-earnings ratio of 9.79, a PEG ratio of 4.53 and a beta of 1.33. The company has a quick ratio of 0.79, a current ratio of 1.14 and a debt-to-equity ratio of 0.56. The company’s 50 day moving average price is $135.62 and its 200-day moving average price is $144.07. Phillips 66 has a 52 week low of $107.85 and a 52 week high of $174.08.

Phillips 66 (NYSE:PSX) last issued its earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 EPS for the quarter, beating the consensus estimate of $1.98 by $0.33. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The business had revenue of $38.91 billion for the quarter, compared to the consensus estimate of $37.79 billion. During the same period last year, the business posted $3.87 EPS. The company’s revenue was up 8.9% compared to the same quarter last year. On average, equities research analysts forecast that Phillips 66 will post 9.25 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th were given a dividend of $1.15 per share. The ex-dividend date was Tuesday, August 20th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.61%. Phillips 66’s payout ratio is currently 35.38%.

Insider Activity at Phillips 66

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the sale, the chief financial officer now owns 81,937 shares in the company, valued at approximately $11,390,062.37. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.22% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Phillips 66

Institutional investors and hedge funds have recently bought and sold shares of the business. Manning & Napier Advisors LLC purchased a new stake in shares of Phillips 66 during the second quarter worth about $17,670,000. M&G Plc purchased a new stake in Phillips 66 during the 2nd quarter valued at approximately $3,596,000. Duality Advisers LP bought a new stake in shares of Phillips 66 during the first quarter valued at approximately $3,596,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Phillips 66 by 42.3% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 133,736 shares of the oil and gas company’s stock worth $21,844,000 after buying an additional 39,775 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky boosted its position in shares of Phillips 66 by 14.3% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 289,395 shares of the oil and gas company’s stock worth $38,530,000 after acquiring an additional 36,116 shares during the last quarter. 76.93% of the stock is owned by institutional investors.

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.