Phillips 66 (NYSE:PSX) Sets New 12-Month Low Following Analyst Downgrade

Phillips 66 (NYSE:PSX) shares reached a new 52-week low during mid-day trading on Monday after Mizuho lowered their price target on the stock from $150.00 to $147.00. Mizuho currently has a neutral rating on the stock. Phillips 66 traded as low as $118.61 and last traded at $119.85, with a volume of 254379 shares trading hands. The stock had previously closed at $122.72.

PSX has been the topic of several other research reports. Barclays lowered their price target on shares of Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th. Bank of America assumed coverage on shares of Phillips 66 in a research note on Thursday, October 17th. They issued a “buy” rating and a $156.00 target price on the stock. Wells Fargo & Company cut their price target on shares of Phillips 66 from $167.00 to $161.00 and set an “overweight” rating for the company in a research note on Monday, December 9th. UBS Group lowered their price objective 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. Finally, TD Cowen dropped their target price on Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $149.00.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Strategic Financial Concepts LLC acquired a new stake in Phillips 66 in the 2nd quarter valued at about $26,000. nVerses Capital LLC acquired a new stake in shares of Phillips 66 in the third quarter valued at approximately $26,000. Values First Advisors Inc. acquired a new stake in shares of Phillips 66 in the third quarter valued at approximately $30,000. Kings Path Partners LLC bought a new position in Phillips 66 in the 2nd quarter worth approximately $38,000. Finally, Industrial Alliance Investment Management Inc. acquired a new position in Phillips 66 during the 2nd quarter worth $40,000. 76.93% of the stock is owned by institutional investors.

Phillips 66 Price Performance

The stock has a 50-day simple moving average of $129.09 and a 200 day simple moving average of $133.47. The stock has a market capitalization of $47.82 billion, a P/E ratio of 14.87, a price-to-earnings-growth ratio of 4.06 and a beta of 1.35. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21.

Phillips 66 (NYSE:PSX) last posted 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. The business had revenue of $36.16 billion for the quarter, compared to analysts’ expectations of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The firm’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter last year, the business earned $4.63 earnings per share. On average, equities analysts forecast that Phillips 66 will post 7.56 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 18th were given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 3.97%. The ex-dividend date was Monday, November 18th. Phillips 66’s dividend payout ratio is 59.05%.

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.