Phillips 66 (NYSE:PSX) Shares Down 2.1%

Phillips 66 (NYSE:PSX - Get Free Report) fell 2.1% during trading on Wednesday . The stock traded as low as $135.43 and last traded at $135.43. 322,722 shares changed hands during trading, a decline of 88% from the average session volume of 2,725,249 shares. The stock had previously closed at $138.29.

Wall Street Analyst Weigh In

Several research firms recently commented on PSX. Piper Sandler decreased their target price on Phillips 66 from $187.00 to $170.00 and set an "overweight" rating for the company in a research note on Tuesday, May 14th. Argus reiterated a "buy" rating and issued a $167.00 price target on shares of Phillips 66 in a report on Thursday, May 30th. Barclays cut their price target on Phillips 66 from $155.00 to $147.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 30th. JPMorgan Chase & Co. increased their price target on Phillips 66 from $149.00 to $167.00 and gave the stock an "overweight" rating in a report on Monday, April 1st. Finally, Mizuho cut their price target 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 equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $158.93.

Phillips 66 Stock Performance

The company has a market capitalization of $57.66 billion, a PE ratio of 10.46, a PEG ratio of 1.89 and a beta of 1.37. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.58. The company has a 50-day moving average price of $148.78 and a two-hundred day moving average price of $143.59.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.05 by ($0.15). The business had revenue of $36.44 billion for the quarter, compared to the consensus estimate of $35.87 billion. Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. During the same period in the prior year, the business posted $4.21 EPS. Analysts predict that Phillips 66 will post 12.16 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Monday, May 20th were issued a $1.15 dividend. This is a boost from Phillips 66's previous quarterly dividend of $1.05. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date was Friday, May 17th. Phillips 66's dividend payout ratio is presently 35.38%.

Insider Transactions at Phillips 66

In other news, VP Joseph Scott Pruitt sold 5,922 shares of the company's stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $157.40, for a total value of $932,122.80. Following the completion of the transaction, the vice president now directly owns 6,583 shares in the company, valued at approximately $1,036,164.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Joseph Scott Pruitt sold 5,922 shares of the stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $157.40, for a total transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Timothy D. Roberts sold 37,742 shares of the stock in a transaction dated 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 sale, the executive vice president now owns 48,365 shares of the company's stock, valued at $7,051,617. The disclosure for this sale can be found here. In the last three months, insiders sold 50,864 shares of company stock worth $7,567,178. 0.22% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC raised its position in Phillips 66 by 2.2% during the 1st quarter. EverSource Wealth Advisors LLC now owns 4,811 shares of the oil and gas company's stock valued at $786,000 after purchasing an additional 104 shares during the last quarter. DekaBank Deutsche Girozentrale raised its position in shares of Phillips 66 by 1.0% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 203,702 shares of the oil and gas company's stock worth $32,345,000 after acquiring an additional 2,110 shares in the last quarter. Granite Group Advisors LLC raised its position in shares of Phillips 66 by 3.9% in the 1st quarter. Granite Group Advisors LLC now owns 3,207 shares of the oil and gas company's stock worth $524,000 after acquiring an additional 120 shares in the last quarter. Cambridge Trust Co. raised its position in shares of Phillips 66 by 5.3% in the 1st quarter. Cambridge Trust Co. now owns 2,495 shares of the oil and gas company's stock worth $408,000 after acquiring an additional 125 shares in the last quarter. Finally, Pathway Financial Advisers LLC bought a new position in shares of Phillips 66 in the 1st quarter worth approximately $1,945,000. Institutional investors 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.