Raymond James Has Lowered Expectations for Phillips 66 (NYSE:PSX) Stock Price

Phillips 66 (NYSE:PSX - Free Report) had its price target reduced by Raymond James from $150.00 to $140.00 in a research note published on Wednesday,Benzinga reports. They currently have an outperform rating on the oil and gas company's stock.

PSX has been the subject of a number of other research reports. Barclays upped their price objective on shares of Phillips 66 from $115.00 to $135.00 and gave the stock an "equal weight" rating in a research report on Friday, March 14th. Mizuho reduced their price objective on shares of Phillips 66 from $140.00 to $132.00 and set a "neutral" rating for the company in a research report on Wednesday, April 9th. The Goldman Sachs Group cut Phillips 66 from a "buy" rating to a "neutral" rating and set a $132.00 target price on the stock. in a research report on Thursday, March 27th. Piper Sandler cut Phillips 66 from a "strong-buy" rating to a "hold" rating in a report on Friday, January 10th. Finally, Wolfe Research upgraded Phillips 66 from a "peer perform" rating to an "outperform" rating and set a $143.00 price target on the stock in a research note on Friday, January 3rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $142.00.

Phillips 66 Stock Performance

Shares of PSX traded up $0.15 during mid-day trading on Wednesday, hitting $97.53. 806,756 shares of the company's stock were exchanged, compared to its average volume of 2,879,126. The firm has a market capitalization of $39.76 billion, a P/E ratio of 19.74, a P/E/G ratio of 4.84 and a beta of 1.17. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $165.00. The business's 50 day moving average is $120.96 and its two-hundred day moving average is $123.50. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX - Get Free Report) last announced its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of $1.23 by ($1.38). Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same period in the previous year, the company earned $3.09 earnings per share. On average, equities analysts expect that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were given a dividend of $1.15 per share. The ex-dividend date was Monday, February 24th. This represents a $4.60 annualized dividend and a dividend yield of 4.72%. Phillips 66's dividend payout ratio is currently 93.12%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PSX. Bogart Wealth LLC boosted its holdings in shares of Phillips 66 by 120.0% during the fourth quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company's stock worth $25,000 after purchasing an additional 120 shares during the last quarter. J.Safra Asset Management Corp acquired a new stake in Phillips 66 in the 4th quarter worth about $25,000. Pacific Center for Financial Services acquired a new stake in shares of Phillips 66 in the fourth quarter worth approximately $27,000. Stephens Consulting LLC grew its stake in shares of Phillips 66 by 83.5% during the 4th quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company's stock valued at $28,000 after buying an additional 111 shares during the period. Finally, Graney & King LLC acquired a new stake in Phillips 66 during the fourth quarter worth about $28,000. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

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.