Phillips 66 (NYSE:PSX) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of Phillips 66 (NYSE:PSX) from a sell rating to a hold rating in a research report sent to investors on Saturday morning.

Other equities analysts have also recently issued research reports about the company. Barclays dropped their target price on Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target on the stock in a research note on Friday, January 3rd. Mizuho decreased their price target on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a research note on Monday, December 16th. Wells Fargo & Company boosted their price target on Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Finally, UBS Group decreased their price target on Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $148.00.

Phillips 66 Stock Down 2.1 %

Phillips 66 stock opened at $128.78 on Friday. Phillips 66 has a fifty-two week low of $108.90 and a fifty-two week high of $174.08. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. The company has a market capitalization of $53.18 billion, a P/E ratio of 26.07, a PEG ratio of 4.84 and a beta of 1.37. The stock has a 50-day simple moving average of $119.17 and a 200-day simple moving average of $127.07.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate 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 posted $3.09 earnings per share. Equities research analysts expect that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th will be issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date is Monday, February 24th. Phillips 66’s dividend payout ratio (DPR) is presently 93.12%.

Institutional Investors Weigh In On Phillips 66

A number of large investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp grew its holdings in Phillips 66 by 7.3% during the 4th quarter. Bank of New York Mellon Corp now owns 9,344,342 shares of the oil and gas company’s stock valued at $1,064,601,000 after buying an additional 639,323 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Phillips 66 by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 8,530,242 shares of the oil and gas company’s stock worth $968,844,000 after purchasing an additional 82,758 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Phillips 66 by 283.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,026,649 shares of the oil and gas company’s stock worth $686,618,000 after purchasing an additional 4,455,220 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Phillips 66 by 10.6% during the fourth quarter. Northern Trust Corp now owns 4,589,079 shares of the oil and gas company’s stock worth $522,834,000 after purchasing an additional 440,107 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Phillips 66 during the fourth quarter worth $497,648,000. Institutional investors and hedge funds 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.