Phillips 66 (NYSE:PSX) Price Target Lowered to $167.00 at Wells Fargo & Company

Phillips 66 (NYSE:PSX) had its price objective cut by Wells Fargo & Company from $182.00 to $167.00 in a report published on Wednesday morning, Benzinga reports. They currently have an overweight rating on the oil and gas company’s stock.

A number of other brokerages have also weighed in on PSX. Raymond James boosted their price objective on shares of Phillips 66 from $150.00 to $155.00 and gave the stock an outperform rating in a report on Wednesday, July 31st. Wolfe Research assumed coverage on shares of Phillips 66 in a report on Thursday, July 18th. They issued a peer perform rating for the company. Barclays lowered their price objective on shares of Phillips 66 from $138.00 to $133.00 and set an equal weight rating for the company in a report on Tuesday, October 8th. Morgan Stanley lowered their price objective on shares of Phillips 66 from $150.00 to $144.00 and set an equal weight rating for the company in a report on Monday, September 16th. Finally, Scotiabank lowered their price objective on shares of Phillips 66 from $156.00 to $145.00 and set a sector outperform rating for the company in a report on Friday, July 12th. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $151.21.

Phillips 66 Price Performance

PSX stock opened at $136.35 on Wednesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 0.79. Phillips 66 has a one year low of $107.85 and a one year high of $174.08. The stock has a market cap of $57.81 billion, a PE ratio of 10.49, a P/E/G ratio of 5.48 and a beta of 1.33. The firm has a 50 day simple moving average of $133.24 and a two-hundred day simple moving average of $141.50.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.33. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The business had revenue of $38.91 billion during the quarter, compared to analysts’ expectations of $37.79 billion. During the same quarter in the previous year, the company earned $3.87 EPS. The business’s quarterly revenue was up 8.9% compared to the same quarter last year. On average, analysts predict that Phillips 66 will post 8.19 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 3.37%. Phillips 66’s payout ratio is currently 35.38%.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now directly owns 81,937 shares of the company’s stock, valued at approximately $11,390,062.37. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.22% of the company’s stock.

Institutional Investors Weigh In On Phillips 66

Hedge funds and other institutional investors have recently bought and sold shares of the business. Manning & Napier Advisors LLC purchased a new stake in shares of Phillips 66 in the 2nd quarter worth approximately $17,670,000. M&G Plc bought a new position in Phillips 66 in the 2nd quarter worth about $3,596,000. Duality Advisers LP bought a new position in Phillips 66 in the 1st quarter worth about $3,596,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in Phillips 66 by 42.3% in the 1st 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 purchasing an additional 39,775 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky boosted its stake in Phillips 66 by 14.3% in the 4th 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 purchasing an additional 36,116 shares in the last quarter. Hedge funds and other 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.