Phillips 66 (NYSE:PSX) Price Target Raised to $162.00 at Wells Fargo & Company

Phillips 66 (NYSE:PSX) had its price target raised by Wells Fargo & Company from $161.00 to $162.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the oil and gas company’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 31.09% from the company’s previous close.

Several other research analysts have also recently issued reports on the company. Bank of America initiated coverage on Phillips 66 in a research note on Thursday, October 17th. They issued a “buy” rating and a $156.00 price objective for the company. Wolfe Research raised shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target for the company in a research report on Friday, January 3rd. Scotiabank dropped their price objective on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. UBS Group reduced their target price on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a report on Monday, November 4th. Finally, Piper Sandler lowered shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $148.00.

Phillips 66 Stock Up 4.8 %

PSX stock opened at $123.58 on Monday. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. Phillips 66 has a 52 week low of $108.90 and a 52 week high of $174.08. The stock has a market capitalization of $51.04 billion, a PE ratio of 25.02, a price-to-earnings-growth ratio of 3.89 and a beta of 1.37. The firm has a 50 day moving average of $120.23 and a 200 day moving average of $128.25.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($1.38). Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same quarter in the previous year, the business earned $3.09 EPS. Sell-side analysts forecast that Phillips 66 will post 7.57 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PSX. Bogart Wealth LLC raised its holdings in shares of Phillips 66 by 120.0% during the fourth quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 120 shares during the last quarter. nVerses Capital LLC acquired a new position in Phillips 66 in the 3rd quarter valued at $26,000. Stephens Consulting LLC lifted its holdings in Phillips 66 by 83.5% in the 4th quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 111 shares in the last quarter. Values First Advisors Inc. acquired a new stake in Phillips 66 during the 3rd quarter worth $30,000. Finally, Human Investing LLC acquired a new stake in shares of Phillips 66 in the fourth quarter valued at about $30,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

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.