Barclays Has Lowered Expectations for Phillips 66 (NYSE:PSX) Stock Price

Phillips 66 (NYSE:PSX) had its price objective lowered by Barclays from $133.00 to $124.00 in a report issued on Monday morning,Benzinga reports. The firm currently has an equal weight rating on the oil and gas company’s stock.

PSX has been the topic of several other research reports. TD Cowen dropped their price target on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Wells Fargo & Company lowered their target price on Phillips 66 from $182.00 to $167.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 9th. UBS Group cut their target price on Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. JPMorgan Chase & Co. decreased their price target on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a research note on Wednesday, October 2nd. Finally, Bank of America assumed coverage on Phillips 66 in a report on Thursday, October 17th. They set a “buy” rating and a $156.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $149.69.

Phillips 66 Price Performance

Shares of PSX opened at $129.76 on Monday. Phillips 66 has a 12 month low of $111.90 and a 12 month high of $174.08. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The stock has a fifty day moving average price of $129.68 and a 200 day moving average price of $136.00. The company has a market cap of $53.59 billion, a P/E ratio of 16.66, a PEG ratio of 4.26 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.41. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The company had revenue of $36.16 billion during the quarter, compared to the consensus estimate of $36.31 billion. During the same quarter in the previous year, the company posted $4.63 earnings per share. The company’s revenue for the quarter was down 10.3% compared to the same quarter last year. On average, research analysts forecast that Phillips 66 will post 7.63 earnings per share for the current year.

Phillips 66 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be issued a $1.15 dividend. The ex-dividend date is Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.55%. Phillips 66’s payout ratio is currently 59.05%.

Institutional Trading of Phillips 66

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Crewe Advisors LLC bought a new position in shares of Phillips 66 in the first quarter valued at $25,000. nVerses Capital LLC acquired a new stake in shares of Phillips 66 during the third quarter worth $26,000. Bank & Trust Co acquired a new stake in shares of Phillips 66 during the second quarter worth $31,000. Values First Advisors Inc. purchased a new stake in shares of Phillips 66 during the third quarter valued at $30,000. Finally, Opal Wealth Advisors LLC acquired a new position in shares of Phillips 66 in the 2nd quarter valued at $34,000. 76.93% of the stock is owned by institutional investors and hedge funds.

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.