Phillips 66 (NYSE:PSX) Given New $133.00 Price Target at Scotiabank

Phillips 66 (NYSE:PSX) had its target price trimmed by Scotiabank from $136.00 to $133.00 in a research report report published on Friday morning,Benzinga reports. The firm currently has a sector outperform rating on the oil and gas company’s stock.

A number of other research firms also recently issued reports on PSX. Raymond James lowered their price target on Phillips 66 from $150.00 to $140.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. Piper Sandler downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. StockNews.com cut shares of Phillips 66 from a “hold” rating to a “sell” rating in a research report on Sunday, March 2nd. The Goldman Sachs Group downgraded shares of Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 price objective for the company. in a research note on Thursday, March 27th. Finally, Wells Fargo & Company raised their target price on shares of Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $142.00.

Phillips 66 Stock Up 0.2 %

PSX opened at $97.23 on Friday. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $165.00. The business has a 50-day moving average of $120.96 and a two-hundred day moving average of $123.50. 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 stock has a market capitalization of $39.64 billion, a price-to-earnings ratio of 19.68, a price-to-earnings-growth ratio of 4.84 and a beta of 1.17.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Friday, January 31st. The oil and gas company reported ($0.15) EPS for the quarter, missing the consensus estimate of $1.23 by ($1.38). Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. During the same quarter last year, the business posted $3.09 EPS. On average, research analysts expect that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Announces Dividend

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of PSX. Bogart Wealth LLC boosted its stake in shares of Phillips 66 by 120.0% during the 4th quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 120 shares during the last quarter. J.Safra Asset Management Corp acquired a new stake in Phillips 66 in the fourth quarter valued at $25,000. Pacific Center for Financial Services bought a new position in Phillips 66 during the 4th quarter valued at $27,000. Stephens Consulting LLC grew its holdings in Phillips 66 by 83.5% during the 4th 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 in the last quarter. Finally, Graney & King LLC bought a new stake in shares of Phillips 66 in the 4th quarter worth about $28,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

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.