Phillips 66 (NYSE:PSX) Reaches New 1-Year Low – What’s Next?

Phillips 66 (NYSE:PSX)’s share price reached a new 52-week low during mid-day trading on Monday . The company traded as low as $108.91 and last traded at $109.20, with a volume of 318369 shares changing hands. The stock had previously closed at $110.37.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on PSX shares. JPMorgan Chase & Co. dropped their target price on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 2nd. Mizuho lowered their price target on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Piper Sandler set a $144.00 price objective on Phillips 66 in a research report on Thursday, October 17th. Wells Fargo & Company dropped their target price on Phillips 66 from $167.00 to $161.00 and set an “overweight” rating on the stock in a research report on Monday, December 9th. Finally, Barclays lowered their price target on Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating for the company in a research note on Monday, November 11th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $149.00.

Phillips 66 Trading Down 0.6 %

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 $45.30 billion, a P/E ratio of 14.08, a price-to-earnings-growth ratio of 4.06 and a beta of 1.35. The business has a fifty day moving average price of $127.59 and a 200 day moving average price of $132.94.

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

Phillips 66 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 18th were paid a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date was Monday, November 18th. Phillips 66’s dividend payout ratio is currently 59.05%.

Hedge Funds Weigh In On Phillips 66

A number of institutional investors have recently added to or reduced their stakes in PSX. Independent Solutions Wealth Management LLC grew its position in shares of Phillips 66 by 4.3% in the 3rd quarter. Independent Solutions Wealth Management LLC now owns 15,362 shares of the oil and gas company’s stock valued at $2,019,000 after acquiring an additional 628 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Phillips 66 by 2.8% in the 3rd quarter. Principal Financial Group Inc. now owns 530,807 shares of the oil and gas company’s stock valued at $69,775,000 after purchasing an additional 14,209 shares during the period. Birmingham Capital Management Co. Inc. AL lifted its stake in Phillips 66 by 17.7% in the 3rd quarter. Birmingham Capital Management Co. Inc. AL now owns 6,653 shares of the oil and gas company’s stock valued at $875,000 after purchasing an additional 1,002 shares during the last quarter. Oddo BHF Asset Management Sas bought a new position in Phillips 66 during the third quarter worth about $1,791,000. Finally, Old North State Trust LLC acquired a new position in Phillips 66 during the third quarter worth approximately $201,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

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.