Phillips 66 (NYSE:PSX) Cut to Hold at StockNews.com

StockNews.com lowered shares of Phillips 66 (NYSE:PSX) from a buy rating to a hold rating in a research note issued to investors on Monday morning.

PSX has been the topic of several other reports. Mizuho dropped their target price on shares of Phillips 66 from $167.00 to $162.00 and set a neutral rating on the stock in a report on Friday, April 12th. JPMorgan Chase & Co. upped their target price on shares of Phillips 66 from $149.00 to $167.00 and gave the stock an overweight rating in a research note on Monday, April 1st. Barclays dropped their price target on Phillips 66 from $155.00 to $147.00 and set an equal weight rating on the stock in a research note on Tuesday, April 30th. Citigroup began coverage on Phillips 66 in a research report on Wednesday, January 24th. They set a buy rating for the company. Finally, Wells Fargo & Company lifted their target price on Phillips 66 from $179.00 to $191.00 and gave the company an overweight rating in a research report on Monday, April 8th. Five equities 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, the stock currently has an average rating of Moderate Buy and a consensus target price of $157.43.

Phillips 66 Price Performance

Shares of PSX stock opened at $146.94 on Monday. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.58. Phillips 66 has a 12-month low of $89.74 and a 12-month high of $174.08. The firm has a fifty day moving average of $155.48 and a 200-day moving average of $138.78. The firm has a market capitalization of $62.30 billion, a price-to-earnings ratio of 11.30, a price-to-earnings-growth ratio of 1.82 and a beta of 1.41.

Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). The business had revenue of $36.44 billion during the quarter, compared to analyst estimates of $35.87 billion. Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. During the same period in the previous year, the firm posted $4.21 earnings per share. On average, equities research analysts forecast that Phillips 66 will post 13.17 earnings per share for the current year.

Phillips 66 Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be paid a $1.15 dividend. The ex-dividend date of this dividend is Friday, May 17th. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 annualized dividend and a dividend yield of 3.13%. Phillips 66’s dividend payout ratio (DPR) is currently 32.31%.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Phillips 66

Large investors have recently modified their holdings of the stock. Brown Advisory Inc. boosted its holdings in shares of Phillips 66 by 5.5% during the third quarter. Brown Advisory Inc. now owns 56,217 shares of the oil and gas company’s stock worth $6,755,000 after acquiring an additional 2,939 shares during the period. Lindbrook Capital LLC boosted its stake in Phillips 66 by 16.0% in the 3rd quarter. Lindbrook Capital LLC now owns 3,159 shares of the oil and gas company’s stock valued at $380,000 after purchasing an additional 435 shares during the period. Verdence Capital Advisors LLC grew its holdings in Phillips 66 by 2.6% in the 3rd quarter. Verdence Capital Advisors LLC now owns 8,727 shares of the oil and gas company’s stock valued at $1,049,000 after buying an additional 223 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Phillips 66 by 6.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 180,231 shares of the oil and gas company’s stock worth $21,655,000 after buying an additional 10,881 shares during the period. Finally, Mackenzie Financial Corp lifted its holdings in shares of Phillips 66 by 2.0% during the third quarter. Mackenzie Financial Corp now owns 40,454 shares of the oil and gas company’s stock worth $4,678,000 after buying an additional 810 shares in the last quarter. 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.