Barclays Cuts Phillips 66 (NYSE:PSX) Price Target to $106.00

Phillips 66 (NYSE:PSX) had its price target trimmed by Barclays from $135.00 to $106.00 in a research report released on Thursday,Benzinga reports. The brokerage currently has an equal weight rating on the oil and gas company’s stock.

A number of other equities research analysts have also issued reports on the stock. Mizuho dropped their price objective on shares of Phillips 66 from $140.00 to $132.00 and set a “neutral” rating for the company in a report on Wednesday. The Goldman Sachs Group downgraded shares of Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 price target for the company. in a report on Thursday, March 27th. Piper Sandler cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Wells Fargo & Company increased their price objective on Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Finally, Raymond James reduced their target price on Phillips 66 from $150.00 to $140.00 and set an “outperform” rating on the stock in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $142.00.

Phillips 66 Trading Up 0.2 %

Shares of Phillips 66 stock opened at $97.23 on Thursday. 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’s 50 day simple moving average is $120.96 and its 200-day simple moving average is $123.55. The stock has a market cap of $39.64 billion, a P/E ratio of 19.68, a P/E/G ratio of 4.84 and a beta of 1.17. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $166.47.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share 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 period last year, the business posted $3.09 EPS. Analysts predict that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were paid a dividend of $1.15 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $4.60 dividend on an annualized basis and a yield of 4.73%. Phillips 66’s dividend payout ratio (DPR) is presently 93.12%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PSX. Bogart Wealth LLC lifted its holdings in Phillips 66 by 120.0% during the 4th quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company’s stock worth $25,000 after buying an additional 120 shares in the last quarter. J.Safra Asset Management Corp purchased a new stake in shares of Phillips 66 during the fourth quarter worth $25,000. Pacific Center for Financial Services acquired a new stake in shares of Phillips 66 in the fourth quarter valued at $27,000. Stephens Consulting LLC boosted its holdings 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 purchasing an additional 111 shares during the period. Finally, Graney & King LLC acquired a new position in Phillips 66 during the 4th quarter worth $28,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

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.