Phillips 66 (NYSE:PSX) Given New $162.00 Price Target at Mizuho

Phillips 66 (NYSE:PSX) had its price target trimmed by Mizuho from $167.00 to $162.00 in a research report released on Friday, Benzinga reports. The brokerage currently has a neutral rating on the oil and gas company’s stock.

Several other equities analysts also recently commented on PSX. StockNews.com upgraded shares of Phillips 66 from a hold rating to a buy rating in a research note on Saturday, February 10th. Raymond James boosted their price target on shares of Phillips 66 from $140.00 to $155.00 and gave the stock an outperform rating in a research note on Thursday, February 1st. Bank of America lifted their price objective on shares of Phillips 66 from $150.00 to $180.00 and gave the stock a neutral rating in a research report on Friday, March 15th. JPMorgan Chase & Co. lifted their price objective on shares of Phillips 66 from $149.00 to $167.00 and gave the stock an overweight rating in a research report on Monday, April 1st. Finally, Wells Fargo & Company lifted their price objective on shares of Phillips 66 from $179.00 to $191.00 and gave the stock an overweight rating in a research report on Monday, April 8th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $156.86.

Phillips 66 Stock Down 1.0 %

Shares of NYSE PSX opened at $160.82 on Friday. The company has a 50-day moving average of $153.64 and a 200 day moving average of $134.51. Phillips 66 has a 12-month low of $89.74 and a 12-month high of $174.08. The company has a current ratio of 1.26, a quick ratio of 1.02 and a debt-to-equity ratio of 0.56. The stock has a market cap of $68.80 billion, a PE ratio of 10.40, a P/E/G ratio of 2.05 and a beta of 1.37.

Phillips 66 (NYSE:PSX) last posted its earnings results on Wednesday, January 31st. The oil and gas company reported $3.09 earnings per share for the quarter, beating the consensus estimate of $2.37 by $0.72. Phillips 66 had a net margin of 4.68% and a return on equity of 22.10%. The firm had revenue of $38.74 billion during the quarter, compared to the consensus estimate of $34.30 billion. As a group, sell-side analysts predict that Phillips 66 will post 13.2 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be paid a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.86%. This is a positive change from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date is Friday, May 17th. Phillips 66’s payout ratio is 27.15%.

Insiders Place Their Bets

In other Phillips 66 news, EVP Richard G. Harbison sold 21,934 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the transaction, the executive vice president now directly owns 24,941 shares in the company, valued at $3,648,120.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Phillips 66 news, EVP Richard G. Harbison sold 21,934 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the transaction, the executive vice president now directly owns 24,941 shares in the company, valued at $3,648,120.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robert W. Pease bought 682 shares of the stock in a transaction on Thursday, February 15th. The shares were bought at an average price of $146.58 per share, for a total transaction of $99,967.56. Following the completion of the transaction, the director now directly owns 1,900 shares of the company’s stock, valued at approximately $278,502. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 35,056 shares of company stock worth $5,272,681. 0.22% of the stock is owned by company insiders.

Institutional Trading of Phillips 66

Several institutional investors and hedge funds have recently modified their holdings of PSX. First Capital Advisors Group LLC. purchased a new position in shares of Phillips 66 during the second quarter valued at approximately $25,000. Ables Iannone Moore & Associates Inc. purchased a new position in shares of Phillips 66 during the fourth quarter valued at approximately $27,000. Main Street Group LTD purchased a new position in shares of Phillips 66 during the fourth quarter valued at approximately $28,000. First United Bank & Trust purchased a new position in shares of Phillips 66 during the fourth quarter valued at approximately $31,000. Finally, Cornerstone Planning Group LLC lifted its stake in shares of Phillips 66 by 134.8% during the third quarter. Cornerstone Planning Group LLC now owns 263 shares of the oil and gas company’s stock valued at $32,000 after buying an additional 151 shares during the period. 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.