Phillips 66 (NYSE:PSX) Sets New 52-Week Low – What’s Next?

Shares of Phillips 66 (NYSE:PSX) reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $107.63 and last traded at $108.05, with a volume of 2939097 shares changing hands. The stock had previously closed at $124.06.

Wall Street Analysts Forecast Growth

PSX has been the topic of a number of research analyst reports. Piper Sandler cut shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Mizuho cut their target price on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a research report on Monday, December 16th. Wolfe Research upgraded Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price for the company in a report on Friday, January 3rd. Wells Fargo & Company increased their price target on Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Finally, Barclays raised their price objective on shares of Phillips 66 from $115.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Friday, March 14th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Phillips 66 currently has a consensus rating of “Moderate Buy” and a consensus price target of $146.43.

Phillips 66 Trading Down 8.0 %

The firm has a 50 day moving average price of $124.24 and a 200 day moving average price of $125.15. The stock has a market capitalization of $40.22 billion, a PE ratio of 19.97, a P/E/G ratio of 4.84 and a beta of 1.31. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($1.38). Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. During the same quarter in the previous year, the company earned $3.09 EPS. Equities analysts expect that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were given a dividend of $1.15 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $4.60 annualized dividend and a dividend yield of 4.66%. Phillips 66’s dividend payout ratio is currently 93.12%.

Hedge Funds Weigh In On Phillips 66

Several institutional investors have recently modified their holdings of the business. Bogart Wealth LLC increased its position in shares of Phillips 66 by 120.0% during the 4th quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 120 shares during the last quarter. J.Safra Asset Management Corp purchased a new stake in Phillips 66 during the fourth quarter worth about $25,000. Pacific Center for Financial Services bought a new stake in Phillips 66 in the fourth quarter worth about $27,000. Stephens Consulting LLC boosted its stake in Phillips 66 by 83.5% in the fourth quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 111 shares during the last quarter. Finally, Graney & King LLC bought a new position in shares of Phillips 66 during the 4th quarter valued at approximately $28,000. 76.93% of the stock is owned by 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.