Phillips 66 (NYSE:PSX) Price Target Raised to $192.00
by Jessica Moore · The Cerbat GemPhillips 66 (NYSE:PSX – Get Free Report) had its target price hoisted by stock analysts at The Goldman Sachs Group from $186.00 to $192.00 in a research note issued on Friday,MarketScreener reports. The brokerage presently has a “neutral” rating on the oil and gas company’s stock. The Goldman Sachs Group’s target price points to a potential upside of 19.88% from the stock’s previous close.
Other equities analysts also recently issued reports about the stock. Wells Fargo & Company boosted their target price on shares of Phillips 66 from $163.00 to $201.00 and gave the stock an “overweight” rating in a report on Tuesday, March 31st. Mizuho lifted their price target on Phillips 66 from $152.00 to $170.00 and gave the stock a “neutral” rating in a report on Tuesday, March 17th. UBS Group increased their price objective on Phillips 66 from $172.00 to $212.00 and gave the stock a “buy” rating in a research report on Thursday, April 2nd. Jefferies Financial Group raised shares of Phillips 66 from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 16th. Finally, TD Cowen raised their price objective on Phillips 66 from $155.00 to $213.00 and gave the stock a “buy” rating in a research note on Wednesday, April 1st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, Phillips 66 presently has an average rating of “Moderate Buy” and a consensus price target of $180.72.
Get Our Latest Research Report on PSX
Phillips 66 Stock Down 0.6%
NYSE:PSX opened at $160.16 on Friday. The stock has a market cap of $64.18 billion, a price-to-earnings ratio of 14.83, a PEG ratio of 0.29 and a beta of 0.76. The company has a current ratio of 1.30, a quick ratio of 0.91 and a debt-to-equity ratio of 0.62. The stock has a 50-day moving average price of $165.35 and a two-hundred day moving average price of $146.00. Phillips 66 has a 1 year low of $93.50 and a 1 year high of $190.61.
Phillips 66 (NYSE:PSX – Get Free Report) last released its quarterly earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.32. The company had revenue of $32.16 billion during the quarter, compared to analysts’ expectations of $33.81 billion. Phillips 66 had a net margin of 3.22% and a return on equity of 9.13%. During the same quarter in the prior year, the company earned ($0.15) earnings per share. As a group, equities analysts expect that Phillips 66 will post 6.8 earnings per share for the current year.
Insiders Place Their Bets
In other Phillips 66 news, Director Lisa Ann Davis sold 3,800 shares of the company’s stock in a transaction on Friday, March 13th. The shares were sold at an average price of $174.37, for a total transaction of $662,606.00. Following the sale, the director owned 8,701 shares of the company’s stock, valued at approximately $1,517,193.37. This represents a 30.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Kevin J. Mitchell sold 16,856 shares of the stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $168.22, for a total value of $2,835,516.32. Following the sale, the chief financial officer owned 97,376 shares of the company’s stock, valued at approximately $16,380,590.72. The trade was a 14.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 95,923 shares of company stock valued at $16,399,619 over the last quarter. Company insiders own 0.22% of the company’s stock.
Hedge Funds Weigh In On Phillips 66
Several institutional investors have recently added to or reduced their stakes in PSX. Brighton Jones LLC increased its stake in shares of Phillips 66 by 238.5% in the 4th quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company’s stock valued at $1,166,000 after acquiring an additional 7,214 shares in the last quarter. Woodline Partners LP grew its holdings in Phillips 66 by 40.7% in the first quarter. Woodline Partners LP now owns 34,891 shares of the oil and gas company’s stock worth $4,308,000 after purchasing an additional 10,089 shares during the period. Bank of Nova Scotia grew its holdings in Phillips 66 by 4.1% in the second quarter. Bank of Nova Scotia now owns 49,491 shares of the oil and gas company’s stock worth $5,904,000 after purchasing an additional 1,946 shares during the period. NewEdge Advisors LLC increased its stake in Phillips 66 by 42.4% in the second quarter. NewEdge Advisors LLC now owns 116,121 shares of the oil and gas company’s stock valued at $13,853,000 after purchasing an additional 34,596 shares in the last quarter. Finally, Dearborn Partners LLC raised its holdings in shares of Phillips 66 by 32.2% during the second quarter. Dearborn Partners LLC now owns 4,483 shares of the oil and gas company’s stock valued at $535,000 after purchasing an additional 1,091 shares during the period. 76.93% of the stock is owned by institutional investors and hedge funds.
Phillips 66 Company Profile
Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.
The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.