Phillips 66 (NYSE:PSX) PT Lowered to $170.00 at Piper Sandler

Phillips 66 (NYSE:PSXFree Report) had its target price decreased by Piper Sandler from $187.00 to $170.00 in a research report report published on Tuesday morning, Benzinga reports. Piper Sandler currently has an overweight rating on the oil and gas company’s stock.

PSX has been the topic of a number of other research reports. Citigroup assumed coverage on shares of Phillips 66 in a research note on Wednesday, January 24th. They set a buy rating on the stock. Bank of America increased their target price on Phillips 66 from $150.00 to $180.00 and gave the company a neutral rating in a research report on Friday, March 15th. Wells Fargo & Company upped their price objective on Phillips 66 from $179.00 to $191.00 and gave the company an overweight rating in a research note on Monday, April 8th. Barclays dropped their price objective on shares of Phillips 66 from $155.00 to $147.00 and set an equal weight rating for the company in a report on Tuesday, April 30th. Finally, StockNews.com cut shares of Phillips 66 from a buy rating to a hold rating in a research report on Monday, May 6th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Phillips 66 presently has an average rating of Moderate Buy and a consensus target price of $156.21.

Read Our Latest Analysis on Phillips 66

Phillips 66 Price Performance

Phillips 66 stock opened at $147.09 on Tuesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.82 and a current ratio of 1.17. Phillips 66 has a 52 week low of $89.74 and a 52 week high of $174.08. The stock has a market capitalization of $62.36 billion, a P/E ratio of 11.31, a price-to-earnings-growth ratio of 1.96 and a beta of 1.41. The stock has a fifty day moving average of $155.59 and a 200-day moving average of $140.33.

Phillips 66 (NYSE:PSXGet Free Report) last issued its earnings results on Friday, April 26th. The oil and gas company reported $1.90 EPS for the quarter, missing the consensus estimate of $2.05 by ($0.15). Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. The business had revenue of $36.44 billion for the quarter, compared to analyst estimates of $35.87 billion. During the same period in the previous year, the firm posted $4.21 EPS. On average, sell-side analysts expect that Phillips 66 will post 12.38 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.13%. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date is Friday, May 17th. Phillips 66’s payout ratio is currently 32.31%.

Insider Activity at Phillips 66

In other news, VP Joseph Scott Pruitt sold 7,200 shares of Phillips 66 stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $157.26, for a total value of $1,132,272.00. Following the completion of the sale, the vice president now owns 6,583 shares in the company, valued at approximately $1,035,242.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.22% of the stock is owned by corporate insiders.

Institutional Trading of Phillips 66

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Crewe Advisors LLC acquired a new position in Phillips 66 during the 1st quarter valued at about $25,000. Keener Financial Planning LLC purchased a new stake in shares of Phillips 66 during the 1st quarter worth approximately $26,000. Ables Iannone Moore & Associates Inc. bought a new stake in shares of Phillips 66 in the fourth quarter valued at $27,000. Redmont Wealth Advisors LLC bought a new position in shares of Phillips 66 during the 1st quarter worth $28,000. Finally, First United Bank & Trust bought a new stake in shares of Phillips 66 in the fourth quarter valued at approximately $31,000. 76.93% of the stock is owned by institutional investors.

About Phillips 66

(Get Free Report)

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.

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