UBS Group Cuts Phillips 66 (NYSE:PSX) Price Target to $138.00

Phillips 66 (NYSE:PSX - Free Report) had its target price decreased by UBS Group from $150.00 to $138.00 in a report issued on Monday morning, Benzinga reports. UBS Group currently has a buy rating on the oil and gas company's stock.

PSX has been the topic of several other research reports. JPMorgan Chase & Co. cut their target price on Phillips 66 from $160.00 to $141.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 2nd. Barclays lowered their target price on Phillips 66 from $138.00 to $133.00 and set an "equal weight" rating on the stock in a research note on Tuesday, October 8th. Bank of America assumed coverage on shares of Phillips 66 in a research note on Thursday, October 17th. They issued a "buy" rating and a $156.00 target price for the company. TD Cowen dropped their price target on Phillips 66 from $162.00 to $150.00 and set a "buy" rating for the company in a research report on Wednesday, September 11th. Finally, Wolfe Research started coverage on shares of Phillips 66 in a report on Thursday, July 18th. They issued a "peer perform" rating on the stock. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $150.38.

Phillips 66 Trading Up 0.8 %

PSX stock traded up $1.02 during midday trading on Monday, hitting $121.03. 2,179,464 shares of the company's stock were exchanged, compared to its average volume of 2,673,310. Phillips 66 has a one year low of $110.54 and a one year high of $174.08. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.79 and a current ratio of 1.21. The company has a market cap of $49.98 billion, a PE ratio of 15.54, a price-to-earnings-growth ratio of 3.92 and a beta of 1.33. The stock's fifty day moving average price is $130.98 and its 200-day moving average price is $137.30.

Phillips 66 (NYSE:PSX - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, beating analysts' consensus estimates of $1.63 by $0.41. The firm had revenue of $36.16 billion during the quarter, compared to analysts' expectations of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The company's revenue for the quarter was down 10.3% compared to the same quarter last year. During the same quarter last year, the company posted $4.63 earnings per share. Research analysts predict that Phillips 66 will post 7.77 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be given a $1.15 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a yield of 3.80%. Phillips 66's dividend payout ratio (DPR) is presently 59.05%.

Insider Activity at Phillips 66

In related news, CFO Kevin J. Mitchell sold 30,000 shares of the business's stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the sale, the chief financial officer now owns 81,937 shares of the company's stock, valued at approximately $11,390,062.37. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.22% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Phillips 66

Institutional investors have recently bought and sold shares of the business. Paragon Capital Management LLC increased its position in Phillips 66 by 3.6% in the 3rd quarter. Paragon Capital Management LLC now owns 12,908 shares of the oil and gas company's stock valued at $1,697,000 after acquiring an additional 443 shares during the period. Ashton Thomas Securities LLC acquired a new stake in Phillips 66 during the 3rd quarter worth about $138,000. Arvest Investments Inc. boosted its position in Phillips 66 by 14.8% during the third quarter. Arvest Investments Inc. now owns 8,332 shares of the oil and gas company's stock valued at $1,095,000 after purchasing an additional 1,074 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. increased its stake in shares of Phillips 66 by 7.9% during the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 8,301 shares of the oil and gas company's stock worth $1,091,000 after purchasing an additional 609 shares during the last quarter. Finally, Sigma Planning Corp boosted its position in Phillips 66 by 2.6% during the third quarter. Sigma Planning Corp now owns 13,226 shares of the oil and gas company's stock worth $1,739,000 after purchasing an additional 340 shares during the period. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

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.