Phillips 66 (NYSE:PSX) Hits New 1-Year Low After Analyst Downgrade

Phillips 66 (NYSE:PSX)’s share price reached a new 52-week low during mid-day trading on Monday after Mizuho lowered their price target on the stock from $150.00 to $147.00. Mizuho currently has a neutral rating on the stock. Phillips 66 traded as low as $118.61 and last traded at $119.85, with a volume of 254379 shares trading hands. The stock had previously closed at $122.72.

Several other equities analysts also recently weighed in on PSX. Barclays lowered their price target on shares of Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th. Bank of America began coverage on Phillips 66 in a research note on Thursday, October 17th. They set a “buy” rating and a $156.00 target price on the stock. TD Cowen cut their price objective on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. UBS Group lowered their target price on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Finally, Morgan Stanley lowered their price target on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Phillips 66 currently has an average rating of “Moderate Buy” and a consensus target price of $149.00.

Hedge Funds Weigh In On Phillips 66

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. First Horizon Advisors Inc. boosted its position in Phillips 66 by 230.0% in the 2nd quarter. First Horizon Advisors Inc. now owns 2,835 shares of the oil and gas company’s stock valued at $400,000 after buying an additional 1,976 shares during the last quarter. Focus Financial Network Inc. increased its holdings in Phillips 66 by 6.8% during the 2nd quarter. Focus Financial Network Inc. now owns 4,757 shares of the oil and gas company’s stock worth $670,000 after purchasing an additional 301 shares during the last quarter. Fifth Third Bancorp raised its position in shares of Phillips 66 by 0.8% in the 2nd quarter. Fifth Third Bancorp now owns 31,427 shares of the oil and gas company’s stock valued at $4,437,000 after purchasing an additional 234 shares in the last quarter. Busey Bank boosted its stake in shares of Phillips 66 by 15.2% during the 2nd quarter. Busey Bank now owns 6,901 shares of the oil and gas company’s stock valued at $974,000 after buying an additional 911 shares during the last quarter. Finally, &PARTNERS grew its position in shares of Phillips 66 by 1,343.7% during the second quarter. &PARTNERS now owns 68,473 shares of the oil and gas company’s stock worth $9,647,000 after buying an additional 63,730 shares in the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

Phillips 66 Stock Down 0.4 %

The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The stock has a market capitalization of $47.82 billion, a price-to-earnings ratio of 14.87, a PEG ratio of 4.06 and a beta of 1.35. The firm’s fifty day moving average is $129.09 and its 200-day moving average is $133.47.

Phillips 66 (NYSE:PSX) last issued its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.41. The firm had revenue of $36.16 billion for the quarter, compared to analyst estimates of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The firm’s revenue for the quarter was down 10.3% on a year-over-year basis. During the same period last year, the company earned $4.63 earnings per share. On average, sell-side analysts predict that Phillips 66 will post 7.56 earnings per share for the current year.

Phillips 66 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 18th were given a dividend of $1.15 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a yield of 3.97%. Phillips 66’s dividend payout ratio (DPR) is presently 59.05%.

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.