Phillips 66 (NYSE:PSX) Shares Gap Down After Analyst Downgrade

Phillips 66 (NYSE:PSX)’s share price gapped down prior to trading on Tuesday after Barclays lowered their price target on the stock from $142.00 to $136.00. The stock had previously closed at $135.95, but opened at $133.02. Barclays currently has an equal weight rating on the stock. Phillips 66 shares last traded at $133.41, with a volume of 75,459 shares trading hands.

Other analysts have also recently issued research reports about the company. StockNews.com cut Phillips 66 from a “buy” rating to a “hold” rating in a research report on Monday, May 6th. Scotiabank lifted their target price on Phillips 66 from $148.00 to $156.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 11th. The Goldman Sachs Group lifted their target price on Phillips 66 from $152.00 to $174.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Raymond James cut their target price on Phillips 66 from $163.00 to $160.00 and set an “outperform” rating on the stock in a research report on Thursday, May 30th. Finally, Bank of America lifted their target price on Phillips 66 from $150.00 to $180.00 and gave the stock a “neutral” rating in a research report on Friday, March 15th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $156.64.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, EVP Timothy D. Roberts sold 37,742 shares of Phillips 66 stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $145.80, for a total value of $5,502,783.60. Following the sale, the executive vice president now owns 48,365 shares of the company’s stock, valued at approximately $7,051,617. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.22% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Phillips 66

Several institutional investors have recently modified their holdings of PSX. Crewe Advisors LLC acquired a new position in Phillips 66 in the 1st quarter valued at $25,000. Keener Financial Planning LLC purchased a new stake in Phillips 66 during the 1st quarter worth $26,000. Ables Iannone Moore & Associates Inc. purchased a new stake in Phillips 66 during the 4th quarter worth $27,000. Redmont Wealth Advisors LLC purchased a new position in Phillips 66 in the 1st quarter valued at about $28,000. Finally, First United Bank & Trust purchased a new position in Phillips 66 in the 4th quarter valued at about $31,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Trading Up 0.9 %

The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.58. The business’s 50-day simple moving average is $140.63 and its two-hundred day simple moving average is $145.05. The company has a market capitalization of $56.80 billion, a PE ratio of 10.31, a PEG ratio of 2.13 and a beta of 1.34.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Friday, April 26th. The oil and gas company reported $1.90 EPS for the quarter, missing the consensus estimate of $2.05 by ($0.15). Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. The company had revenue of $36.44 billion for the quarter, compared to the consensus estimate of $35.87 billion. During the same period in the previous year, the business posted $4.21 EPS. On average, analysts predict that Phillips 66 will post 10.62 earnings per share for the current year.

Phillips 66 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th will be paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 3.43%. Phillips 66’s dividend payout ratio (DPR) is 35.38%.

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.