Phillips 66 (NYSE:PSX) Hits New 12-Month Low – Should You Sell?

Shares of Phillips 66 (NYSE:PSX) hit a new 52-week low on Monday . The stock traded as low as $108.91 and last traded at $109.20, with a volume of 318369 shares trading hands. The stock had previously closed at $110.37.

Wall Street Analysts Forecast Growth

PSX has been the topic of several analyst reports. Wells Fargo & Company decreased their price target on shares of Phillips 66 from $167.00 to $161.00 and set an “overweight” rating on the stock in a research note on Monday, December 9th. Barclays lowered their target price on shares of 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. Scotiabank decreased their price objective on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Mizuho cut their price objective 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. Finally, Bank of America started coverage on shares of Phillips 66 in a report on Thursday, October 17th. They issued a “buy” rating and a $156.00 target price for the company. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Phillips 66 has an average rating of “Moderate Buy” and an average price target of $149.00.

Phillips 66 Price Performance

The company’s fifty day moving average is $127.09 and its two-hundred day moving average is $132.71. 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 firm has a market cap of $46.08 billion, a price-to-earnings ratio of 14.32, a price-to-earnings-growth ratio of 4.06 and a beta of 1.35.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.41. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The company had revenue of $36.16 billion for the quarter, compared to analysts’ expectations of $36.31 billion. During the same quarter in the previous year, the firm posted $4.63 earnings per share. The firm’s quarterly revenue was down 10.3% on a year-over-year basis. Equities research analysts forecast that Phillips 66 will post 7.56 EPS for the current year.

Phillips 66 Dividend Announcement

The company 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. The ex-dividend date was Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 4.12%. Phillips 66’s dividend payout ratio is currently 59.05%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Strategic Financial Concepts LLC purchased a new position in Phillips 66 in the 2nd quarter valued at about $26,000. nVerses Capital LLC purchased a new position in Phillips 66 in the third quarter valued at about $26,000. Values First Advisors Inc. acquired a new stake in Phillips 66 during the 3rd quarter valued at approximately $30,000. Kings Path Partners LLC purchased a new stake in Phillips 66 during the 2nd quarter worth approximately $38,000. Finally, Industrial Alliance Investment Management Inc. acquired a new position in shares of Phillips 66 in the 2nd quarter valued at approximately $40,000. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

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.