Phillips 66 (NYSE:PSX) Rating Increased to Outperform at Wolfe Research

Phillips 66 (NYSE:PSX) was upgraded by stock analysts at Wolfe Research from a “peer perform” rating to an “outperform” rating in a research report issued on Friday,Briefing.com Automated Import reports. The brokerage presently has a $143.00 price objective on the oil and gas company’s stock. Wolfe Research’s price objective indicates a potential upside of 24.99% from the stock’s previous close.

PSX has been the topic of several other research reports. Scotiabank dropped their price objective on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Morgan Stanley cut their price target on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. JPMorgan Chase & Co. decreased their price objective on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a report on Wednesday, October 2nd. Barclays reduced 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 report on Monday, November 11th. Finally, Mizuho reduced their price objective on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a report on Monday, December 16th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $148.57.

Phillips 66 Stock Up 0.4 %

NYSE:PSX opened at $114.41 on Friday. Phillips 66 has a twelve month low of $108.90 and a twelve month high of $174.08. The firm has a market capitalization of $47.25 billion, a price-to-earnings ratio of 14.69, a price-to-earnings-growth ratio of 4.06 and a beta of 1.35. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The stock’s 50 day moving average price is $124.13 and its two-hundred day moving average price is $131.40.

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

Institutional Trading of Phillips 66

Several large investors have recently modified their holdings of PSX. nVerses Capital LLC bought a new position in shares of Phillips 66 in the 3rd quarter valued at $26,000. Values First Advisors Inc. bought a new position in Phillips 66 in the third quarter valued at about $30,000. Point72 Hong Kong Ltd bought a new position in shares of Phillips 66 in the third quarter worth about $40,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Phillips 66 in the 2nd quarter valued at approximately $51,000. Finally, Hoese & Co LLP grew its holdings in shares of Phillips 66 by 33.1% during the 3rd quarter. Hoese & Co LLP now owns 402 shares of the oil and gas company’s stock valued at $53,000 after purchasing an additional 100 shares during the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

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.