Phillips 66 (NYSE:PSX) Upgraded to “Hold” at StockNews.com

StockNews.com upgraded shares of Phillips 66 (NYSE:PSX) from a sell rating to a hold rating in a research note published on Monday morning.

A number of other analysts have also recently weighed in on PSX. Wolfe Research upgraded Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target on the stock in a research note on Friday, January 3rd. Barclays cut their target price on Phillips 66 from $135.00 to $106.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 10th. Morgan Stanley cut their target price on Phillips 66 from $140.00 to $122.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 24th. TD Cowen cut their target price on Phillips 66 from $127.00 to $114.00 and set a “buy” rating on the stock in a research report on Monday. Finally, Mizuho cut their target price on Phillips 66 from $140.00 to $132.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 9th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Phillips 66 presently has an average rating of “Moderate Buy” and an average target price of $137.07.

Phillips 66 Stock Up 1.8 %

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

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

Phillips 66 Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 4.54%. The ex-dividend date is Monday, May 19th. This is a positive change from Phillips 66’s previous quarterly dividend of $1.15. Phillips 66’s payout ratio is currently 97.17%.

Institutional Investors Weigh In On Phillips 66

A number of institutional investors have recently added to or reduced their stakes in PSX. Bogart Wealth LLC boosted its holdings in 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 in the last quarter. J.Safra Asset Management Corp acquired a new stake in shares of Phillips 66 in the 4th quarter worth approximately $25,000. Pacific Center for Financial Services purchased a new position in Phillips 66 in the 4th quarter valued at approximately $27,000. Stephens Consulting LLC boosted 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 purchasing an additional 111 shares in the last quarter. Finally, Graney & King LLC acquired a new stake in Phillips 66 in the fourth quarter valued at $28,000. 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.