TD Cowen Lowers Phillips 66 (NYSE:PSX) Price Target to $155.00

Phillips 66 (NYSE:PSX) had its target price trimmed by TD Cowen from $164.00 to $155.00 in a research note issued to investors on Friday, Marketbeat reports. The firm currently has a buy rating on the oil and gas company’s stock.

PSX has been the subject of several other reports. Mizuho decreased their price objective on shares of Phillips 66 from $162.00 to $160.00 and set a neutral rating for the company in a report on Thursday, June 20th. Bank of America increased their price objective on shares of Phillips 66 from $150.00 to $180.00 and gave the company a neutral rating in a report on Friday, March 15th. Raymond James decreased their price objective on shares of Phillips 66 from $163.00 to $160.00 and set an outperform rating for the company in a report on Thursday, May 30th. Wells Fargo & Company increased their price objective on shares of Phillips 66 from $179.00 to $191.00 and gave the company an overweight rating in a report on Monday, April 8th. Finally, Barclays cut their target price on shares of Phillips 66 from $155.00 to $147.00 and set an equal weight rating for the company in a research note on Tuesday, April 30th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Phillips 66 has an average rating of Moderate Buy and a consensus target price of $157.79.

Phillips 66 Price Performance

NYSE PSX opened at $138.48 on Friday. Phillips 66 has a 52 week low of $90.86 and a 52 week high of $174.08. 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 stock has a market cap of $58.71 billion, a price-to-earnings ratio of 10.65, a price-to-earnings-growth ratio of 1.95 and a beta of 1.37. The company has a 50-day moving average price of $144.16 and a two-hundred day moving average price of $144.43.

Phillips 66 (NYSE:PSX) last posted its 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). The firm had revenue of $36.44 billion during the quarter, compared to the consensus estimate of $35.87 billion. Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. During the same quarter last year, the company posted $4.21 EPS. Analysts forecast that Phillips 66 will post 11.8 EPS for the current year.

Phillips 66 Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 20th were given a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 3.32%. The ex-dividend date was Friday, May 17th. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s dividend payout ratio is 35.38%.

Insider Activity at Phillips 66

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. DekaBank Deutsche Girozentrale increased its stake in shares of Phillips 66 by 12.4% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 201,592 shares of the oil and gas company’s stock worth $26,501,000 after purchasing an additional 22,278 shares during the last quarter. Eldred Rock Partners LLC acquired a new position in shares of Phillips 66 during the 4th quarter worth $10,402,000. First Dallas Securities Inc. acquired a new position in shares of Phillips 66 during the 3rd quarter worth $753,000. TIAA Trust National Association increased its stake in shares of Phillips 66 by 32.9% during the 4th quarter. TIAA Trust National Association now owns 14,816 shares of the oil and gas company’s stock worth $1,973,000 after purchasing an additional 3,670 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its stake in shares of Phillips 66 by 27.7% during the 4th quarter. Daiwa Securities Group Inc. now owns 48,601 shares of the oil and gas company’s stock worth $6,470,000 after purchasing an additional 10,536 shares during the last quarter. Institutional investors and hedge funds 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.