Phillips 66 (NYSE:PSX) Price Target Raised to $138.00 at Mizuho

Phillips 66 (NYSE:PSX) had its price objective raised by Mizuho from $132.00 to $138.00 in a research report released on Tuesday morning,Benzinga reports. The firm currently has a neutral rating on the oil and gas company’s stock.

Several other research analysts also recently issued reports on the stock. The Goldman Sachs Group downgraded shares of Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 target price on the stock. in a research note on Thursday, March 27th. Wells Fargo & Company dropped their target price on shares of Phillips 66 from $162.00 to $149.00 and set an “overweight” rating on the stock in a research note on Monday, April 28th. Morgan Stanley dropped their target price on shares of Phillips 66 from $140.00 to $122.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 24th. Barclays upped their target price on shares of Phillips 66 from $106.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Monday. Finally, Scotiabank dropped their target price on shares of Phillips 66 from $136.00 to $133.00 and set a “sector outperform” rating on the stock in a research note on Friday, April 11th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Phillips 66 presently has a consensus rating of “Moderate Buy” and an average price target of $137.86.

Phillips 66 Price Performance

Shares of PSX opened at $125.62 on Tuesday. The stock has a market cap of $51.18 billion, a PE ratio of 25.43, a price-to-earnings-growth ratio of 4.84 and a beta of 1.01. 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 has a fifty-two week low of $91.01 and a fifty-two week high of $150.12. The firm’s 50-day simple moving average is $111.64 and its two-hundred day simple moving average is $119.22.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.97). The business had revenue of $31.92 billion during the quarter, compared to analysts’ expectations of $31.93 billion. Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. During the same quarter last year, the company posted $1.90 EPS. Analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be given a $1.20 dividend. The ex-dividend date is Monday, May 19th. This is an increase from Phillips 66’s previous quarterly dividend of $1.15. This represents a $4.80 annualized dividend and a yield of 3.82%. Phillips 66’s dividend payout ratio (DPR) is presently 109.34%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Bogart Wealth LLC raised its position in Phillips 66 by 120.0% in the fourth quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 120 shares during the period. J.Safra Asset Management Corp bought a new position in Phillips 66 in the fourth quarter worth approximately $25,000. Pacific Center for Financial Services bought a new position in Phillips 66 in the fourth quarter worth approximately $27,000. von Borstel & Associates Inc. bought a new position in Phillips 66 in the first quarter worth approximately $27,000. Finally, Stephens Consulting LLC raised its position in Phillips 66 by 83.5% in the fourth quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company’s stock worth $28,000 after acquiring an additional 111 shares during the period. 76.93% of the stock is currently owned by 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.