Mizuho Cuts Phillips 66 (NYSE:PSX) Price Target to $147.00

Phillips 66 (NYSE:PSX) had its price objective lowered by Mizuho from $150.00 to $147.00 in a report released on Monday morning,Benzinga reports. Mizuho currently has a neutral rating on the oil and gas company’s stock.

Several other equities research analysts have also recently issued reports on PSX. Barclays decreased their price objective on Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th. TD Cowen decreased their price target on Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Piper Sandler set a $144.00 price target on Phillips 66 in a report on Thursday, October 17th. Wells Fargo & Company cut their price objective on shares of Phillips 66 from $167.00 to $161.00 and set an “overweight” rating on the stock in a report on Monday, December 9th. Finally, Bank of America assumed coverage on shares of Phillips 66 in a report on Thursday, October 17th. They issued a “buy” rating and a $156.00 target price for the company. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $149.00.

Phillips 66 Trading Down 3.4 %

Shares of PSX stock opened at $111.86 on Monday. The company has a market capitalization of $46.20 billion, a price-to-earnings ratio of 14.36, a PEG ratio of 4.06 and a beta of 1.35. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The firm has a 50-day moving average price of $128.63 and a 200 day moving average price of $133.32. Phillips 66 has a twelve month low of $111.71 and a twelve month high of $174.08.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.41. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The business had revenue of $36.16 billion during the quarter, compared to analyst estimates of $36.31 billion. During the same quarter in the previous year, the business posted $4.63 earnings per share. The company’s revenue was down 10.3% on a year-over-year basis. Research 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. Investors of record on Monday, November 18th were given a dividend of $1.15 per share. The ex-dividend date was Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a yield of 4.11%. Phillips 66’s dividend payout ratio (DPR) is 59.05%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Hennion & Walsh Asset Management Inc. lifted its position in Phillips 66 by 13.2% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 12,182 shares of the oil and gas company’s stock worth $1,720,000 after acquiring an additional 1,424 shares in the last quarter. Apollon Wealth Management LLC boosted its stake in shares of Phillips 66 by 10.8% in the second quarter. Apollon Wealth Management LLC now owns 12,777 shares of the oil and gas company’s stock valued at $1,804,000 after purchasing an additional 1,249 shares during the period. First Horizon Advisors Inc. boosted its stake in shares of Phillips 66 by 230.0% in the second quarter. First Horizon Advisors Inc. now owns 2,835 shares of the oil and gas company’s stock valued at $400,000 after purchasing an additional 1,976 shares during the period. First Citizens Bank & Trust Co. grew its holdings in Phillips 66 by 15.3% during the 2nd quarter. First Citizens Bank & Trust Co. now owns 3,020 shares of the oil and gas company’s stock valued at $426,000 after purchasing an additional 400 shares in the last quarter. Finally, Focus Financial Network Inc. increased its stake in Phillips 66 by 6.8% during the 2nd quarter. Focus Financial Network Inc. now owns 4,757 shares of the oil and gas company’s stock worth $670,000 after buying an additional 301 shares during the period. 76.93% of the stock is owned by hedge funds and other 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.