Phillips 66 (NYSE:PSX) Given New $141.00 Price Target at JPMorgan Chase & Co.

by · The Cerbat Gem

Phillips 66 (NYSE:PSX – Free Report) had its price objective cut by JPMorgan Chase & Co. from $160.00 to $141.00 in a report published on Wednesday, Benzinga reports. They currently have an overweight rating on the oil and gas company’s stock.

Other analysts have also recently issued reports about the company. Mizuho lowered their price target on Phillips 66 from $154.00 to $150.00 and set a neutral rating for the company in a research note on Monday, September 16th. TD Cowen lowered their target price on shares of Phillips 66 from $162.00 to $150.00 and set a buy rating for the company in a research note on Wednesday, September 11th. Barclays increased their target price on shares of Phillips 66 from $136.00 to $138.00 and gave the stock an equal weight rating in a report on Monday, August 5th. Wells Fargo & Company boosted their price target on shares of Phillips 66 from $176.00 to $182.00 and gave the company an overweight rating in a report on Tuesday, September 3rd. Finally, Piper Sandler reduced their target price on Phillips 66 from $151.00 to $136.00 and set an overweight rating on the stock in a report on Friday, September 20th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $152.71.

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Phillips 66 Price Performance

Shares of PSX stock opened at $138.62 on Wednesday. The firm’s 50 day moving average price is $133.83 and its two-hundred day moving average price is $142.39. The stock has a market cap of $58.77 billion, a PE ratio of 10.66, a PEG ratio of 5.28 and a beta of 1.33. Phillips 66 has a 52-week low of $107.85 and a 52-week high of $174.08. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.79 and a current ratio of 1.14.

Phillips 66 (NYSE:PSX – Get Free Report) last posted its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.33. The business had revenue of $38.91 billion for the quarter, compared to analyst estimates of $37.79 billion. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The firm’s revenue was up 8.9% on a year-over-year basis. During the same period last year, the company earned $3.87 EPS. As a group, analysts forecast that Phillips 66 will post 8.27 EPS for the current year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th were issued a dividend of $1.15 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.32%. Phillips 66’s payout ratio is presently 35.38%.

Insider Buying and Selling at Phillips 66

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer now directly owns 81,937 shares of the company’s stock, valued at $11,390,062.37. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.22% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Mirador Capital Partners LP raised its holdings in Phillips 66 by 2.9% during the third quarter. Mirador Capital Partners LP now owns 47,549 shares of the oil and gas company’s stock worth $6,250,000 after acquiring an additional 1,325 shares in the last quarter. Eldred Rock Partners LLC raised its stake in shares of Phillips 66 by 4.2% during the 3rd quarter. Eldred Rock Partners LLC now owns 85,718 shares of the oil and gas company’s stock worth $11,268,000 after purchasing an additional 3,462 shares in the last quarter. Biltmore Wealth Management LLC raised its stake in shares of Phillips 66 by 5.1% during the 3rd quarter. Biltmore Wealth Management LLC now owns 3,568 shares of the oil and gas company’s stock worth $469,000 after purchasing an additional 172 shares in the last quarter. Duncan Williams Asset Management LLC boosted its holdings in shares of Phillips 66 by 16.1% in the 3rd quarter. Duncan Williams Asset Management LLC now owns 2,322 shares of the oil and gas company’s stock valued at $305,000 after buying an additional 322 shares during the last quarter. Finally, Czech National Bank grew its stake in shares of Phillips 66 by 5.5% in the third quarter. Czech National Bank now owns 85,266 shares of the oil and gas company’s stock valued at $11,208,000 after buying an additional 4,477 shares in the last quarter. Institutional investors and hedge funds 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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