UBS Group Has Lowered Expectations for Phillips 66 (NYSE:PSX) Stock Price

Phillips 66 (NYSE:PSX) had its price target decreased by investment analysts at UBS Group from $150.00 to $138.00 in a research report issued on Monday, Benzinga reports. The firm currently has a “buy” rating on the oil and gas company’s stock. UBS Group’s price target points to a potential upside of 13.28% from the stock’s current price.

Several other equities research analysts have also recently commented on PSX. Mizuho dropped their price target on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Scotiabank cut their target price on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Bank of America began coverage on shares of Phillips 66 in a research report on Thursday, October 17th. They issued a “buy” rating and a $156.00 price target on the stock. Raymond James increased their price objective on Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Finally, Morgan Stanley reduced their price objective on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $150.38.

Phillips 66 Price Performance

Shares of NYSE:PSX opened at $121.82 on Monday. Phillips 66 has a one year low of $110.54 and a one year high of $174.08. The stock has a market capitalization of $50.31 billion, a price-to-earnings ratio of 15.64, a PEG ratio of 3.90 and a beta of 1.33. The company has a 50-day simple moving average of $130.73 and a 200-day simple moving average of $137.07. 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 (NYSE:PSX) last posted its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, beating the consensus estimate of $1.63 by $0.41. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The firm had revenue of $36.16 billion during the quarter, compared to the consensus estimate of $36.31 billion. During the same period in the prior year, the business earned $4.63 EPS. The firm’s revenue was down 10.3% compared to the same quarter last year. On average, analysts predict that Phillips 66 will post 7.69 EPS for the current year.

Insider Buying and Selling

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 81,937 shares in the company, valued at approximately $11,390,062.37. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.22% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Phillips 66

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Manning & Napier Advisors LLC bought a new position in Phillips 66 during the second quarter valued at approximately $17,670,000. M&G Plc bought a new position in shares of Phillips 66 during the 2nd quarter valued at $3,596,000. Duality Advisers LP acquired a new stake in shares of Phillips 66 in the 1st quarter valued at $3,596,000. BI Asset Management Fondsmaeglerselskab A S boosted its holdings in Phillips 66 by 69.8% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 37,802 shares of the oil and gas company’s stock worth $6,175,000 after purchasing an additional 15,542 shares in the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in Phillips 66 in the first quarter worth $1,283,000. 76.93% of the stock is 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.