Phillips 66 (PSX) Price Target Cut to $135.00 by Analysts at Raymond James

Phillips 66 (NYSE:PSX) had its price objective trimmed by Raymond James from $139.00 to $135.00 in a research note released on Monday morning. The firm currently has an outperform rating on the oil and gas company’s stock.

Several other equities research analysts have also recently commented on the company. Wells Fargo & Co upped their price target on Phillips 66 from $137.00 to $140.00 and gave the stock a buy rating in a research note on Monday. Jefferies Financial Group upgraded Phillips 66 from an underperform rating to a hold rating and set a $108.00 price target for the company in a research note on Tuesday, October 16th. Barclays upgraded Phillips 66 from an underweight rating to an equal weight rating and cut their price target for the stock from $133.00 to $128.00 in a research note on Wednesday, October 3rd. Zacks Investment Research cut Phillips 66 from a buy rating to a hold rating in a research note on Thursday, September 13th. Finally, Citigroup upped their price target on Phillips 66 from $126.00 to $130.00 and gave the stock a neutral rating in a research note on Friday, September 7th. Twelve investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $121.79.

Shares of Phillips 66 stock traded up $3.14 during trading hours on Monday, hitting $101.66. 829,558 shares of the company were exchanged, compared to its average volume of 3,071,025. Phillips 66 has a 1 year low of $89.14 and a 1 year high of $123.97. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.24 and a quick ratio of 0.82. The stock has a market capitalization of $46.17 billion, a PE ratio of 23.21, a price-to-earnings-growth ratio of 1.44 and a beta of 1.01.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Friday, October 26th. The oil and gas company reported $3.10 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.50 by $0.60. Phillips 66 had a return on equity of 15.01% and a net margin of 5.72%. The business had revenue of $30.59 billion during the quarter, compared to analysts’ expectations of $28.50 billion. During the same quarter in the prior year, the business earned $1.66 earnings per share. As a group, equities research analysts anticipate that Phillips 66 will post 8.13 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Monday, November 19th will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 3.15%. The ex-dividend date of this dividend is Friday, November 16th. Phillips 66’s payout ratio is 73.06%.

A number of large investors have recently added to or reduced their stakes in PSX. Acropolis Investment Management LLC purchased a new position in Phillips 66 in the second quarter worth $106,000. Capital Advisors Ltd. LLC raised its position in Phillips 66 by 152.4% in the third quarter. Capital Advisors Ltd. LLC now owns 944 shares of the oil and gas company’s stock worth $106,000 after acquiring an additional 570 shares in the last quarter. Tuttle Tactical Management purchased a new position in Phillips 66 in the second quarter worth $107,000. Baker Ellis Asset Management LLC purchased a new position in Phillips 66 in the second quarter worth $111,000. Finally, Kaizen Advisory LLC raised its position in Phillips 66 by 144.3% in the second quarter. Kaizen Advisory LLC now owns 1,004 shares of the oil and gas company’s stock worth $113,000 after acquiring an additional 593 shares in the last quarter. Hedge funds and other institutional investors own 69.67% of the company’s stock.

About Phillips 66

Phillips 66 operates as an energy manufacturing and logistics company. 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 products to market, and provides terminaling and storage services for crude oil and petroleum products; transports, stores, fractionates, and markets natural gas liquids, exports LPG, and provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.

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