Phillips 66 (NYSE:PSX - Get Free Report) hit a new 52-week low on Monday . The company 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.
Analyst Ratings Changes
A number of brokerages have issued reports on PSX. TD Cowen cut their target price on Phillips 66 from $162.00 to $150.00 and set a "buy" rating on the stock in a research report on Wednesday, September 11th. JPMorgan Chase & Co. cut their price target on shares of Phillips 66 from $160.00 to $141.00 and set an "overweight" rating on the stock in a report on Wednesday, October 2nd. Morgan Stanley decreased their price objective 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. Wells Fargo & Company cut their target price on shares of Phillips 66 from $167.00 to $161.00 and set an "overweight" rating on the stock in a research note on Monday, December 9th. Finally, Barclays decreased their price target on Phillips 66 from $133.00 to $124.00 and set an "equal weight" rating for the company in a research note on Monday, November 11th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $149.00.
Get Our Latest Stock Report on Phillips 66
Phillips 66 Stock Performance
The stock has a market capitalization of $48.02 billion, a P/E ratio of 14.93, a P/E/G ratio of 4.06 and a beta of 1.35. The stock has a 50 day moving average of $129.42 and a 200 day moving average of $133.66. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21.
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 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.41. The company had revenue of $36.16 billion during the quarter, compared to the consensus estimate 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 in the previous year, the company posted $4.63 earnings per share. Equities analysts predict that Phillips 66 will post 7.56 EPS for the current year.
Phillips 66 Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 18th were paid a $1.15 dividend. The ex-dividend date was Monday, November 18th. This represents a $4.60 annualized dividend and a dividend yield of 3.96%. Phillips 66's payout ratio is currently 59.05%.
Institutional Trading of Phillips 66
Hedge funds have recently added to or reduced their stakes in the business. Mizuho Securities USA LLC increased its holdings in shares of Phillips 66 by 7,549.0% during the third quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company's stock valued at $328,625,000 after purchasing an additional 2,467,316 shares during the period. ING Groep NV increased its stake in Phillips 66 by 123.2% during the 3rd quarter. ING Groep NV now owns 1,182,980 shares of the oil and gas company's stock valued at $155,503,000 after buying an additional 653,032 shares during the period. Bank of Montreal Can lifted its stake in shares of Phillips 66 by 63.4% in the 3rd quarter. Bank of Montreal Can now owns 1,633,876 shares of the oil and gas company's stock worth $214,120,000 after acquiring an additional 633,970 shares during the period. Mizuho Markets Americas LLC acquired a new stake in shares of Phillips 66 in the 3rd quarter worth approximately $70,983,000. Finally, Bank of New York Mellon Corp increased its stake in shares of Phillips 66 by 5.0% during the second quarter. Bank of New York Mellon Corp now owns 8,422,720 shares of the oil and gas company's stock valued at $1,189,035,000 after acquiring an additional 402,925 shares during the period. Institutional investors own 76.93% of the company's stock.
Phillips 66 Company Profile
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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.
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