Phillips 66 (NYSE:PSX) Sets New 1-Year Low on Analyst Downgrade

Phillips 66 (NYSE:PSX)’s stock price reached a new 52-week low during mid-day trading on Monday after Mizuho lowered their price target on the stock from $150.00 to $147.00. Mizuho currently has a neutral rating on the stock. Phillips 66 traded as low as $118.61 and last traded at $119.85, with a volume of 254379 shares. The stock had previously closed at $122.72.

A number of other equities analysts have also recently issued reports on the company. Barclays reduced their target price on Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th. Wells Fargo & Company reduced their price objective on shares of Phillips 66 from $167.00 to $161.00 and set an “overweight” rating on the stock in a research note on Monday, December 9th. UBS Group decreased their price objective on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a report on Monday, November 4th. Morgan Stanley cut their target price on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. Finally, Scotiabank decreased their price target on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Phillips 66 currently has a consensus rating of “Moderate Buy” and an average price target of $149.00.

Hedge Funds Weigh In On Phillips 66

Large investors have recently added to or reduced their stakes in the company. nVerses Capital LLC acquired a new position in shares of Phillips 66 during the third quarter worth about $26,000. Values First Advisors Inc. bought a new stake in Phillips 66 in the 3rd quarter valued at approximately $30,000. Kings Path Partners LLC bought a new stake in Phillips 66 in the 2nd quarter valued at approximately $38,000. Industrial Alliance Investment Management Inc. acquired a new position in Phillips 66 during the 2nd quarter worth approximately $40,000. Finally, Point72 Hong Kong Ltd bought a new position in shares of Phillips 66 during the 3rd quarter worth approximately $40,000. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Down 0.4 %

The stock’s fifty day moving average price is $129.09 and its 200-day moving average price is $133.47. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $47.82 billion, a price-to-earnings ratio of 14.87, a P/E/G ratio of 4.06 and a beta of 1.35.

Phillips 66 (NYSE:PSX) last released its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.41. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The business had revenue of $36.16 billion during the quarter, compared to the consensus estimate of $36.31 billion. During the same quarter last year, the firm earned $4.63 earnings per share. The firm’s revenue for the quarter was down 10.3% compared to the same quarter last year. On average, sell-side analysts predict that Phillips 66 will post 7.56 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 18th were given a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date of this dividend was Monday, November 18th. Phillips 66’s dividend payout ratio is currently 59.05%.

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.