Phillips 66 (NYSE:PSX) Given New $150.00 Price Target at Mizuho

Phillips 66 (NYSE:PSX) had its price objective dropped by stock analysts at Mizuho from $154.00 to $150.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the oil and gas company’s stock. Mizuho’s price target points to a potential upside of 16.91% from the company’s previous close.

Several other research firms have also recently commented on PSX. Barclays boosted their price target on shares of Phillips 66 from $136.00 to $138.00 and gave the stock an “equal weight” rating in a report on Monday, August 5th. Scotiabank lowered their target price 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. Wells Fargo & Company upped their target price on shares of Phillips 66 from $176.00 to $182.00 and gave the company an “overweight” rating in a report on Tuesday, September 3rd. JPMorgan Chase & Co. lowered their target price on shares of Phillips 66 from $165.00 to $162.00 and set an “overweight” rating for the company in a report on Tuesday, July 2nd. Finally, TD Cowen lowered their target price on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $155.29.

Phillips 66 Trading Up 0.8 %

NYSE PSX opened at $128.30 on Monday. 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 52 week low of $107.85 and a 52 week high of $174.08. The stock has a market capitalization of $53.70 billion, a PE ratio of 9.87, a price-to-earnings-growth ratio of 4.53 and a beta of 1.33. The firm has a 50 day moving average of $135.53 and a two-hundred day moving average of $143.96.

Phillips 66 (NYSE:PSX) last posted its quarterly 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 quarter in the previous year, the business posted $3.87 EPS. The firm’s revenue was up 8.9% on a year-over-year basis. As a group, research analysts expect that Phillips 66 will post 9.25 EPS for the current fiscal year.

Insider Activity

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

Hedge Funds Weigh In On Phillips 66

Large investors have recently made changes to their positions in the stock. Crewe Advisors LLC purchased a new position in shares of Phillips 66 in the 1st quarter valued at about $25,000. Keener Financial Planning LLC acquired a new stake in Phillips 66 in the 1st quarter valued at about $26,000. Strategic Financial Concepts LLC acquired a new stake in Phillips 66 in the 2nd quarter valued at about $26,000. Ables Iannone Moore & Associates Inc. acquired a new stake in Phillips 66 in the 4th quarter valued at about $27,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in Phillips 66 in the 1st quarter valued at about $28,000. Hedge funds and other institutional investors 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.