Phillips 66 (NYSE:PSX) Stock Rating Upgraded by Wall Street Zen

by · The Cerbat Gem

Phillips 66 (NYSE:PSX – Get Free Report) was upgraded by research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report issued on Saturday.

PSX has been the subject of several other reports. Citigroup lifted their price target on shares of Phillips 66 from $146.00 to $159.00 and gave the company a “neutral” rating in a research note on Monday, February 9th. Barclays set a $158.00 price objective on shares of Phillips 66 in a research report on Friday, February 20th. Wolfe Research raised their target price on Phillips 66 from $159.00 to $164.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. TD Cowen reaffirmed a “buy” rating on shares of Phillips 66 in a research report on Friday, February 6th. Finally, Wells Fargo & Company upped their price target on Phillips 66 from $162.00 to $163.00 and gave the stock an “overweight” rating in a research note on Thursday, February 5th. Eleven investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to MarketBeat.com, Phillips 66 currently has a consensus rating of “Hold” and a consensus target price of $161.33.

Get Our Latest Stock Report on Phillips 66

Phillips 66 Stock Performance

NYSE:PSX opened at $172.85 on Friday. The company has a fifty day moving average of $151.43 and a 200-day moving average of $140.17. The firm has a market capitalization of $69.27 billion, a P/E ratio of 15.98, a P/E/G ratio of 0.60 and a beta of 0.86. The company has a quick ratio of 0.91, a current ratio of 1.30 and a debt-to-equity ratio of 0.62. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $178.38.

Phillips 66 (NYSE:PSX – Get Free Report) last released its earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.32. The company had revenue of $32.16 billion for the quarter, compared to the consensus estimate 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 previous year, the company earned ($0.15) EPS. As a group, sell-side analysts anticipate that Phillips 66 will post 6.8 EPS for the current year.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, EVP Don Baldridge sold 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $160.00, for a total transaction of $1,200,000.00. Following the completion of the sale, the executive vice president directly owned 38,488 shares of the company’s stock, valued at approximately $6,158,080. The trade was a 16.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Kevin J. Mitchell sold 16,856 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief financial officer directly owned 97,376 shares of the company’s stock, valued at approximately $16,380,590.72. This trade represents a 14.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 38,088 shares of company stock worth $6,147,655. Insiders own 0.22% of the company’s stock.

Hedge Funds Weigh In On Phillips 66

Large investors have recently bought and sold shares of the stock. Board of the Pension Protection Fund bought a new stake in shares of Phillips 66 in the 4th quarter worth $26,000. Accordant Advisory Group Inc lifted its position in shares of Phillips 66 by 900.0% during the fourth quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 180 shares in the last quarter. SWAN Capital LLC boosted its holdings in Phillips 66 by 1,055.6% during the fourth quarter. SWAN Capital LLC now owns 208 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 190 shares during the last quarter. Evolution Wealth Management Inc. purchased a new position in Phillips 66 during the second quarter worth about $25,000. Finally, Eagle Bay Advisors LLC bought a new stake in Phillips 66 in the 4th quarter worth about $27,000. 76.93% of the stock is currently owned by institutional investors.

Phillips 66 Company Profile

(Get Free Report)

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.

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