Phillips 66 (NYSE:PSX) Given New $124.00 Price Target at Barclays

Phillips 66 (NYSE:PSX - Free Report) had its target price trimmed by Barclays from $133.00 to $124.00 in a research report released on Monday morning,Benzinga reports. The firm currently has an equal weight rating on the oil and gas company's stock.

A number of other brokerages have also weighed in on PSX. JPMorgan Chase & Co. cut their price objective 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. Mizuho cut their price target on Phillips 66 from $154.00 to $150.00 and set a "neutral" rating for the company in a report on Monday, September 16th. Wells Fargo & Company decreased their target price on Phillips 66 from $182.00 to $167.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 9th. UBS Group decreased their price objective on Phillips 66 from $150.00 to $138.00 and set a "buy" rating on the stock in a research report on Monday, November 4th. Finally, Morgan Stanley dropped their price objective on Phillips 66 from $150.00 to $144.00 and set an "equal weight" rating on the stock in a research note on Monday, September 16th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $149.69.

Phillips 66 Stock Performance

Shares of PSX stock traded up $1.54 on Monday, hitting $127.99. 3,009,489 shares of the stock were exchanged, compared to its average volume of 2,669,206. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $52.86 billion, a PE ratio of 16.30, a P/E/G ratio of 4.12 and a beta of 1.33. Phillips 66 has a one year low of $111.90 and a one year high of $174.08. The firm's 50 day moving average is $130.12 and its two-hundred day moving average is $136.42.

Phillips 66 (NYSE:PSX - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.41. The firm had revenue of $36.16 billion for the quarter, compared to analysts' expectations of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The company's revenue was down 10.3% compared to the same quarter last year. During the same quarter last year, the firm posted $4.63 EPS. Sell-side analysts expect that Phillips 66 will post 7.68 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date of this dividend is Monday, November 18th. Phillips 66's dividend payout ratio is presently 59.05%.

Insider Buying and Selling at Phillips 66

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the company's stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $139.01, for a total value of $4,170,300.00. Following the completion of the sale, the chief financial officer now directly owns 81,937 shares of the company's stock, valued at $11,390,062.37. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.22% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PSX. Avantax Advisory Services Inc. lifted its holdings in Phillips 66 by 14.2% during the first quarter. Avantax Advisory Services Inc. now owns 44,423 shares of the oil and gas company's stock valued at $7,256,000 after purchasing an additional 5,512 shares during the last quarter. Bleakley Financial Group LLC boosted its position in shares of Phillips 66 by 4.9% during the first quarter. Bleakley Financial Group LLC now owns 8,649 shares of the oil and gas company's stock valued at $1,413,000 after purchasing an additional 407 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of Phillips 66 by 10.7% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 58,808 shares of the oil and gas company's stock valued at $9,606,000 after purchasing an additional 5,690 shares in the last quarter. Koshinski Asset Management Inc. increased its position in shares of Phillips 66 by 3.8% during the first quarter. Koshinski Asset Management Inc. now owns 17,028 shares of the oil and gas company's stock valued at $2,781,000 after acquiring an additional 624 shares in the last quarter. Finally, Patton Fund Management Inc. purchased a new stake in shares of Phillips 66 during the 1st quarter valued at about $5,094,000. Institutional investors and hedge funds own 76.93% of the company's stock.

About Phillips 66

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.