Mizuho Cuts Phillips 66 (NYSE:PSX) Price Target to $132.00

Phillips 66 (NYSE:PSX) had its target price decreased by Mizuho from $140.00 to $132.00 in a research report released on Wednesday,Benzinga reports. Mizuho currently has a neutral rating on the oil and gas company’s stock.

A number of other research firms have also recently weighed in on PSX. Barclays increased their price target on Phillips 66 from $115.00 to $135.00 and gave the stock an “equal weight” rating in a report on Friday, March 14th. Wolfe Research upgraded shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target for the company in a research report on Friday, January 3rd. The Goldman Sachs Group lowered shares of Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 price objective on the stock. in a report on Thursday, March 27th. StockNews.com downgraded shares of Phillips 66 from a “hold” rating to a “sell” rating in a report on Sunday, March 2nd. Finally, Piper Sandler cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $142.00.

Phillips 66 Stock Performance

NYSE:PSX opened at $97.23 on Wednesday. The company’s 50-day moving average is $120.96 and its two-hundred day moving average is $123.55. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $166.47. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The firm has a market capitalization of $39.64 billion, a price-to-earnings ratio of 19.68, a PEG ratio of 4.84 and a beta of 1.17.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates 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 last year, the firm earned $3.09 earnings per share. Analysts forecast that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were paid a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 4.73%. The ex-dividend date was Monday, February 24th. Phillips 66’s payout ratio is presently 93.12%.

Institutional Trading of Phillips 66

A number of large investors have recently made changes to their positions in PSX. Bogart Wealth LLC grew its holdings in Phillips 66 by 120.0% during the 4th 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 in the last quarter. J.Safra Asset Management Corp acquired a new position in shares of Phillips 66 during the fourth quarter worth $25,000. Pacific Center for Financial Services acquired a new position in shares of Phillips 66 during the fourth quarter worth $27,000. Stephens Consulting LLC raised its stake 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 valued at $28,000 after buying an additional 111 shares in the last quarter. Finally, Graney & King LLC purchased a new stake in Phillips 66 during the 4th quarter worth about $28,000. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Phillips 66 Company Profile

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.