Phillips 66 (NYSE:PSX) Price Target Cut to $140.00 by Analysts at UBS Group

Phillips 66 (NYSE:PSX) had its price target reduced by UBS Group from $144.00 to $140.00 in a report released on Monday morning,Benzinga reports. They currently have a buy rating on the oil and gas company’s stock.

Several other brokerages have also recently issued reports on PSX. Piper Sandler cut shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Wells Fargo & Company cut their price target on shares of Phillips 66 from $162.00 to $149.00 and set an “overweight” rating on the stock in a report on Monday. StockNews.com lowered shares of Phillips 66 from a “hold” rating to a “sell” rating in a report on Sunday, March 2nd. The Goldman Sachs Group lowered shares of Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 price target on the stock. in a report on Thursday, March 27th. Finally, Raymond James cut their price target on shares of Phillips 66 from $150.00 to $140.00 and set an “outperform” rating on the stock in a report on Wednesday, April 9th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $137.07.

Phillips 66 Stock Performance

Shares of PSX opened at $105.80 on Monday. The firm’s 50 day moving average is $115.31 and its 200-day moving average is $120.83. The stock has a market capitalization of $43.11 billion, a P/E ratio of 21.42, a P/E/G ratio of 4.84 and a beta of 1.17. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $152.19.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.97). The business had revenue of $31.92 billion during the quarter, compared to analyst estimates of $31.93 billion. Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. During the same period in the prior year, the firm earned $1.90 EPS. Equities research analysts anticipate that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be given a dividend of $1.20 per share. The ex-dividend date is Monday, May 19th. This is an increase from Phillips 66’s previous quarterly dividend of $1.15. This represents a $4.80 dividend on an annualized basis and a yield of 4.54%. Phillips 66’s payout ratio is presently 97.17%.

Institutional Trading of Phillips 66

Large investors have recently added to or reduced their stakes in the business. Bogart Wealth LLC lifted its stake in shares of Phillips 66 by 120.0% in the 4th quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 120 shares during the last quarter. J.Safra Asset Management Corp acquired a new position in Phillips 66 during the fourth quarter worth $25,000. Pacific Center for Financial Services acquired a new position in Phillips 66 during the fourth quarter worth $27,000. Stephens Consulting LLC increased its position in Phillips 66 by 83.5% during the fourth quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company’s stock worth $28,000 after buying an additional 111 shares during the last quarter. Finally, Graney & King LLC acquired a new position in Phillips 66 during the fourth quarter worth $28,000. 76.93% of the stock is owned by institutional investors.

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.