Phillips 66 (NYSE:PSX) Upgraded by StockNews.com to “Hold” Rating

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

Other analysts have also recently issued reports about the stock. Piper Sandler cut shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. UBS Group lowered their target price on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Mizuho lowered their target price on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. Wells Fargo & Company lifted their price target on shares of Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Finally, Wolfe Research upgraded shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target on the stock in a report on Friday, January 3rd. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $148.00.

Phillips 66 Stock Down 1.2 %

PSX stock opened at $127.30 on Friday. The stock has a market capitalization of $52.57 billion, a P/E ratio of 25.77, a PEG ratio of 4.84 and a beta of 1.37. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. Phillips 66 has a one year low of $108.90 and a one year high of $174.08. The company has a 50 day moving average price of $119.39 and a two-hundred day moving average price of $126.97.

Phillips 66 (NYSE:PSX) last released its 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 in the previous year, the firm earned $3.09 earnings per share. As a group, sell-side analysts expect that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Monday, February 24th will be issued a dividend of $1.15 per share. The ex-dividend date is Monday, February 24th. This represents a $4.60 annualized dividend and a dividend yield of 3.61%. Phillips 66’s payout ratio is 93.12%.

Hedge Funds Weigh In On Phillips 66

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bogart Wealth LLC lifted its holdings 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 acquiring an additional 120 shares in the last quarter. J.Safra Asset Management Corp acquired a new position in Phillips 66 in the 4th quarter worth $25,000. Pacific Center for Financial Services acquired a new position in Phillips 66 in the 4th quarter worth $27,000. Stephens Consulting LLC lifted its holdings in Phillips 66 by 83.5% in the 4th quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company’s stock worth $28,000 after buying an additional 111 shares in the last quarter. Finally, Graney & King LLC acquired a new position in Phillips 66 in the 4th quarter worth $28,000. 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.