Phillips 66 (NYSE:PSX) Stock Rating Lowered by Tudor Pickering

Tudor Pickering downgraded shares of Phillips 66 (NYSE:PSX - Free Report) from a strong-buy rating to a hold rating in a report released on Thursday, May 22nd,Zacks.com reports.

PSX has been the topic of several other reports. The Goldman Sachs Group lowered shares of Phillips 66 from a "buy" rating to a "neutral" rating and set a $132.00 price target on the stock. in a report on Thursday, March 27th. Mizuho lifted their price target on shares of Phillips 66 from $132.00 to $138.00 and gave the company a "neutral" rating in a report on Tuesday, May 13th. JPMorgan Chase & Co. decreased their price target on shares of Phillips 66 from $138.00 to $131.00 and set an "overweight" rating on the stock in a report on Tuesday, April 29th. Wells Fargo & Company decreased their price target on shares of Phillips 66 from $162.00 to $149.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. Finally, TD Cowen boosted their target price on shares of Phillips 66 from $114.00 to $120.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $137.86.

Phillips 66 Price Performance

Shares of NYSE:PSX traded up $1.71 during midday trading on Thursday, hitting $114.48. The stock had a trading volume of 933,488 shares, compared to its average volume of 2,996,356. The company's 50-day moving average price is $109.74 and its 200-day moving average price is $118.78. The company has a market capitalization of $46.64 billion, a P/E ratio of 23.18, a price-to-earnings-growth ratio of 4.84 and a beta of 1.01. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $150.12.

Phillips 66 (NYSE:PSX - Get Free Report) last issued its earnings results on Friday, April 25th. The oil and gas company reported ($0.90) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.97). The firm had revenue of $31.92 billion during the quarter, compared to analyst estimates of $31.93 billion. Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same quarter in the previous year, the firm posted $1.90 earnings per share. As a group, equities research analysts predict that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be paid a $1.20 dividend. The ex-dividend date is Monday, May 19th. This represents a $4.80 annualized dividend and a yield of 4.19%. This is an increase from Phillips 66's previous quarterly dividend of $1.15. Phillips 66's dividend payout ratio (DPR) is currently 109.34%.

Insider Buying and Selling at Phillips 66

In other news, Director Robert W. Pease acquired 439 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The shares were bought at an average cost of $113.85 per share, with a total value of $49,980.15. Following the acquisition, the director now owns 4,091 shares in the company, valued at approximately $465,760.35. This represents a 12.02% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.22% of the company's stock.

Institutional Trading of Phillips 66

Institutional investors have recently modified their holdings of the company. Bogart Wealth LLC raised its stake in Phillips 66 by 120.0% in the fourth quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company's stock worth $25,000 after buying an additional 120 shares in the last quarter. von Borstel & Associates Inc. bought a new position in Phillips 66 in the first quarter worth about $27,000. J.Safra Asset Management Corp bought a new position in Phillips 66 in the fourth quarter worth about $25,000. Olde Wealth Management LLC bought a new position in Phillips 66 in the first quarter worth about $28,000. Finally, Opal Wealth Advisors LLC bought a new position in Phillips 66 in the first quarter worth about $29,000. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

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.