Phillips 66 (NYSE:PSX) Cut to Hold at StockNews.com

StockNews.com downgraded shares of Phillips 66 (NYSE:PSX) from a buy rating to a hold rating in a report released on Thursday morning.

Several other brokerages have also weighed in on PSX. Raymond James raised their target price on Phillips 66 from $140.00 to $155.00 and gave the stock an outperform rating in a research report on Thursday, February 1st. Bank of America raised their price objective on shares of Phillips 66 from $150.00 to $180.00 and gave the stock a neutral rating in a report on Friday, March 15th. Citigroup initiated coverage on shares of Phillips 66 in a report on Wednesday, January 24th. They issued a buy rating for the company. Barclays boosted their price target on shares of Phillips 66 from $139.00 to $155.00 and gave the company an equal weight rating in a research report on Thursday. Finally, Mizuho dropped their price objective on Phillips 66 from $167.00 to $162.00 and set a neutral rating on the stock in a report on Friday, April 12th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $158.00.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $153.31 on Thursday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.26 and a quick ratio of 1.02. The company has a market cap of $65.59 billion, a price-to-earnings ratio of 9.91, a price-to-earnings-growth ratio of 1.98 and a beta of 1.37. The stock’s 50-day moving average is $154.22 and its two-hundred day moving average is $135.06. Phillips 66 has a 1-year low of $89.74 and a 1-year high of $174.08.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Wednesday, January 31st. The oil and gas company reported $3.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.37 by $0.72. The business had revenue of $38.74 billion during the quarter, compared to analysts’ expectations of $34.30 billion. Phillips 66 had a net margin of 4.68% and a return on equity of 22.10%. Analysts forecast that Phillips 66 will post 13.25 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be paid a $1.15 dividend. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 annualized dividend and a yield of 3.00%. The ex-dividend date is Friday, May 17th. Phillips 66’s payout ratio is currently 27.15%.

Insiders Place Their Bets

In other news, Director Robert W. Pease bought 682 shares of the stock in a transaction dated Thursday, February 15th. The shares were acquired at an average price of $146.58 per share, with a total value of $99,967.56. Following the completion of the acquisition, the director now directly owns 1,900 shares in the company, valued at $278,502. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Robert W. Pease purchased 682 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was purchased at an average cost of $146.58 per share, with a total value of $99,967.56. Following the completion of the acquisition, the director now directly owns 1,900 shares of the company’s stock, valued at approximately $278,502. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Joseph Scott Pruitt sold 5,922 shares of Phillips 66 stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $157.40, for a total value of $932,122.80. Following the completion of the sale, the vice president now directly owns 6,583 shares in the company, valued at approximately $1,036,164.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,056 shares of company stock worth $5,272,681. 0.22% of the stock is owned by insiders.

Institutional Investors Weigh In On Phillips 66

Hedge funds and other institutional investors have recently bought and sold shares of the business. Madison Park Capital Advisors LLC increased its holdings in shares of Phillips 66 by 3.0% in the 1st quarter. Madison Park Capital Advisors LLC now owns 2,346 shares of the oil and gas company’s stock valued at $383,000 after purchasing an additional 68 shares in the last quarter. Warwick Investment Management Inc. increased its holdings in Phillips 66 by 3.1% in the fourth quarter. Warwick Investment Management Inc. now owns 2,395 shares of the oil and gas company’s stock valued at $319,000 after buying an additional 73 shares in the last quarter. MV Capital Management Inc. increased its holdings in Phillips 66 by 9.6% in the first quarter. MV Capital Management Inc. now owns 837 shares of the oil and gas company’s stock valued at $137,000 after buying an additional 73 shares in the last quarter. HCR Wealth Advisors lifted its position in shares of Phillips 66 by 2.9% during the 4th quarter. HCR Wealth Advisors now owns 2,640 shares of the oil and gas company’s stock valued at $351,000 after acquiring an additional 74 shares during the period. Finally, Nvwm LLC boosted its stake in shares of Phillips 66 by 0.9% during the 4th quarter. Nvwm LLC now owns 8,286 shares of the oil and gas company’s stock worth $1,103,000 after acquiring an additional 75 shares in 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.