Phillips 66 (NYSE:PSX) Price Target Cut to $144.00 by Analysts at Morgan Stanley

Phillips 66 (NYSE:PSX) had its price objective cut by Morgan Stanley from $150.00 to $144.00 in a report released on Monday, Benzinga reports. They currently have an equal weight rating on the oil and gas company’s stock.

Several other equities analysts also recently commented on PSX. Mizuho decreased their target price on Phillips 66 from $154.00 to $150.00 and set a neutral rating on the stock in a research report on Monday. TD Cowen decreased their price target on shares of Phillips 66 from $162.00 to $150.00 and set a buy rating on the stock in a research note on Wednesday, September 11th. Scotiabank dropped their price objective on shares of Phillips 66 from $156.00 to $145.00 and set a sector outperform rating for the company in a research note on Friday, July 12th. Wolfe Research started coverage on shares of Phillips 66 in a research report on Thursday, July 18th. They set a peer perform rating on the stock. Finally, Argus reaffirmed a buy rating and set a $167.00 target price on shares of Phillips 66 in a report on Thursday, May 30th. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Phillips 66 has a consensus rating of Moderate Buy and an average target price of $155.29.

Phillips 66 Stock Performance

Shares of NYSE PSX opened at $127.32 on Monday. The stock has a market capitalization of $53.29 billion, a PE ratio of 9.79, a price-to-earnings-growth ratio of 4.53 and a beta of 1.33. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.79 and a current ratio of 1.14. Phillips 66 has a 52 week low of $107.85 and a 52 week high of $174.08. The stock has a 50 day moving average price of $135.62 and a 200 day moving average price of $144.07.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.33. The business had revenue of $38.91 billion during the quarter, compared to analysts’ expectations of $37.79 billion. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. Phillips 66’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter last year, the company posted $3.87 earnings per share. Analysts predict that Phillips 66 will post 9.25 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th were issued a $1.15 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.61%. Phillips 66’s dividend payout ratio (DPR) is currently 35.38%.

Insider Activity

In related news, CFO Kevin J. Mitchell sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the completion of the transaction, the chief financial officer now directly owns 81,937 shares in the company, valued at approximately $11,390,062.37. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.22% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Phillips 66

Hedge funds and other institutional investors have recently bought and sold shares of the company. Crewe Advisors LLC acquired a new stake in shares of Phillips 66 during the first quarter valued at about $25,000. Keener Financial Planning LLC acquired a new stake in Phillips 66 during the 1st quarter worth approximately $26,000. Redmont Wealth Advisors LLC bought a new stake in Phillips 66 during the 1st quarter worth approximately $28,000. Ruedi Wealth Management Inc. increased its position in Phillips 66 by 102.1% in the 1st quarter. Ruedi Wealth Management Inc. now owns 190 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 96 shares during the period. Finally, Ables Iannone Moore & Associates Inc. bought a new position in shares of Phillips 66 during the fourth quarter valued at $27,000. Institutional investors own 76.93% of the company’s stock.

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.