Phillips 66 (NYSE:PSX) Price Target Cut to $136.00

by · The Markets Daily

Phillips 66 (NYSE:PSX – Get Free Report) had its target price cut by stock analysts at Piper Sandler from $151.00 to $136.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the oil and gas company’s stock. Piper Sandler’s price target indicates a potential upside of 4.64% from the stock’s current price.

Other equities research analysts have also recently issued reports about the stock. Scotiabank decreased their price target on shares of Phillips 66 from $156.00 to $145.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. Barclays lifted their target price on shares of Phillips 66 from $136.00 to $138.00 and gave the stock an “equal weight” rating in a research note on Monday, August 5th. Mizuho reduced their price target on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. JPMorgan Chase & Co. lowered their price objective on Phillips 66 from $165.00 to $162.00 and set an “overweight” rating for the company in a research report on Tuesday, July 2nd. Finally, Argus reiterated a “buy” rating and set a $167.00 target price on shares of Phillips 66 in a research report on Thursday, May 30th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Phillips 66 presently has an average rating of “Moderate Buy” and an average target price of $154.21.

View Our Latest Stock Report on Phillips 66

Phillips 66 Trading Down 1.9 %

Shares of PSX opened at $129.97 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 0.79. Phillips 66 has a 1-year low of $107.85 and a 1-year high of $174.08. The stock has a market cap of $55.10 billion, a price-to-earnings ratio of 10.00, a price-to-earnings-growth ratio of 4.67 and a beta of 1.33. The firm has a 50 day simple moving average of $135.20 and a 200-day simple moving average of $143.67.

Phillips 66 (NYSE:PSX – Get Free Report) last released its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.33. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The company had revenue of $38.91 billion during the quarter, compared to the consensus estimate of $37.79 billion. During the same quarter last year, the business posted $3.87 earnings per share. Phillips 66’s revenue was up 8.9% compared to the same quarter last year. Equities analysts forecast that Phillips 66 will post 9.1 EPS for the current fiscal year.

Insider Activity at Phillips 66

In related news, CFO Kevin J. Mitchell sold 30,000 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the completion of the sale, the chief financial officer now directly owns 81,937 shares of the company’s stock, valued at approximately $11,390,062.37. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.22% of the company’s stock.

Institutional Investors Weigh In On Phillips 66

Large investors have recently modified their holdings of the stock. Gryphon Financial Partners LLC boosted its holdings in Phillips 66 by 11.4% in the 4th quarter. Gryphon Financial Partners LLC now owns 4,166 shares of the oil and gas company’s stock worth $546,000 after acquiring an additional 426 shares during the period. TrinityPoint Wealth LLC boosted its stake in shares of Phillips 66 by 14.9% in the fourth quarter. TrinityPoint Wealth LLC now owns 5,170 shares of the oil and gas company’s stock valued at $688,000 after purchasing an additional 672 shares during the period. Clearbridge Investments LLC grew its holdings in Phillips 66 by 55.1% during the 4th quarter. Clearbridge Investments LLC now owns 33,625 shares of the oil and gas company’s stock valued at $4,477,000 after purchasing an additional 11,945 shares in the last quarter. Assetmark Inc. increased its stake in Phillips 66 by 792.6% during the 4th quarter. Assetmark Inc. now owns 1,455 shares of the oil and gas company’s stock worth $194,000 after buying an additional 1,292 shares during the period. Finally, US Bancorp DE lifted its holdings in Phillips 66 by 0.4% in the 4th quarter. US Bancorp DE now owns 263,400 shares of the oil and gas company’s stock worth $35,070,000 after buying an additional 1,017 shares in the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

About Phillips 66

(Get Free Report)

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.

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