Phillips 66 (NYSE:PSX) Price Target Cut to $150.00

Phillips 66 (NYSE:PSX) had its target price reduced by equities research analysts at TD Cowen from $162.00 to $150.00 in a research report issued on Wednesday, MarketBeat Ratings reports. The brokerage presently has a “buy” rating on the oil and gas company’s stock. TD Cowen’s target price indicates a potential upside of 19.31% from the stock’s previous close.

Other analysts also recently issued reports about the stock. Piper Sandler cut their target price on shares of Phillips 66 from $170.00 to $151.00 and set an “overweight” rating on the stock in a research note on Friday, June 14th. Wells Fargo & Company increased their price objective on Phillips 66 from $176.00 to $182.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 3rd. Wolfe Research initiated coverage on Phillips 66 in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. Barclays increased their price target on shares of Phillips 66 from $136.00 to $138.00 and gave the stock an “equal weight” rating in a research report on Monday, August 5th. Finally, Scotiabank decreased their price target on shares of Phillips 66 from $156.00 to $145.00 and set a “sector outperform” rating for the company in a report on Friday, July 12th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Phillips 66 presently has an average rating of “Moderate Buy” and a consensus price target of $156.92.

Phillips 66 Trading Up 0.6 %

Shares of NYSE PSX opened at $125.72 on Wednesday. The company has a quick ratio of 0.79, a current ratio of 1.14 and a debt-to-equity ratio of 0.56. Phillips 66 has a 12 month low of $107.85 and a 12 month high of $174.08. The company has a market cap of $53.30 billion, a price-to-earnings ratio of 9.67, a P/E/G ratio of 2.31 and a beta of 1.33. The business has a fifty day simple moving average of $136.03 and a 200-day simple moving average of $144.32.

Phillips 66 (NYSE:PSX) last announced its earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 EPS for the quarter, topping the consensus estimate of $1.98 by $0.33. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The company had revenue of $38.91 billion during the quarter, compared to analysts’ expectations of $37.79 billion. During the same period last year, the company posted $3.87 earnings per share. The business’s revenue for the quarter was up 8.9% on a year-over-year basis. Sell-side analysts predict that Phillips 66 will post 9.25 EPS for the current year.

Insider Buying and Selling at Phillips 66

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the completion of the sale, the chief financial officer now owns 81,937 shares in the company, valued at approximately $11,390,062.37. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.22% of the company’s stock.

Institutional Trading of Phillips 66

A number of institutional investors and hedge funds have recently modified their holdings of the company. Gryphon Financial Partners LLC lifted its position in shares of Phillips 66 by 11.4% during the 4th quarter. Gryphon Financial Partners LLC now owns 4,166 shares of the oil and gas company’s stock worth $546,000 after purchasing an additional 426 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Phillips 66 by 3.5% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 432,340 shares of the oil and gas company’s stock worth $58,690,000 after buying an additional 14,466 shares during the last quarter. Goelzer Investment Management Inc. bought a new stake in shares of Phillips 66 in the fourth quarter valued at approximately $270,000. Janney Montgomery Scott LLC grew its stake in shares of Phillips 66 by 4.4% in the fourth quarter. Janney Montgomery Scott LLC now owns 237,422 shares of the oil and gas company’s stock worth $31,611,000 after acquiring an additional 9,941 shares during the last quarter. Finally, Foundations Investment Advisors LLC increased its position in Phillips 66 by 8.8% during the fourth quarter. Foundations Investment Advisors LLC now owns 3,230 shares of the oil and gas company’s stock worth $470,000 after acquiring an additional 261 shares during the period. 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.