Phillips 66 (NYSE:PSX) Price Target Lowered to $142.00 at Barclays

Phillips 66 (NYSE:PSX) had its price objective decreased by investment analysts at Barclays from $147.00 to $142.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has an “equal weight” rating on the oil and gas company’s stock. Barclays‘s target price would suggest a potential upside of 1.60% from the stock’s current price.

PSX has been the topic of a number of other reports. Argus reiterated a “buy” rating and set a $167.00 price target on shares of Phillips 66 in a report on Thursday, May 30th. Mizuho decreased their price objective on shares of Phillips 66 from $162.00 to $160.00 and set a “neutral” rating for the company in a report on Thursday, June 20th. Raymond James dropped their target price on shares of Phillips 66 from $163.00 to $160.00 and set an “outperform” rating on the stock in a research note on Thursday, May 30th. Scotiabank raised their price target on shares of Phillips 66 from $148.00 to $156.00 and gave the stock a “sector outperform” rating in a research note on Thursday, April 11th. Finally, The Goldman Sachs Group raised their target price on Phillips 66 from $152.00 to $174.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Phillips 66 currently has an average rating of “Moderate Buy” and a consensus target price of $157.43.

Phillips 66 Stock Down 1.0 %

Shares of NYSE PSX traded down $1.41 during midday trading on Monday, hitting $139.76. 261,392 shares of the stock traded hands, compared to its average volume of 2,774,540. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.82 and a current ratio of 1.17. Phillips 66 has a one year low of $94.51 and a one year high of $174.08. The business has a 50 day moving average price of $142.91 and a two-hundred day moving average price of $144.83. The company has a market cap of $59.25 billion, a PE ratio of 10.86, a P/E/G ratio of 2.12 and a beta of 1.34.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. The firm had revenue of $36.44 billion for the quarter, compared to the consensus estimate of $35.87 billion. During the same period in the previous year, the business earned $4.21 earnings per share. On average, equities analysts predict that Phillips 66 will post 11.08 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Timothy D. Roberts sold 37,742 shares of Phillips 66 stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $145.80, for a total value of $5,502,783.60. Following the completion of the sale, the executive vice president now directly owns 48,365 shares in the company, valued at $7,051,617. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.22% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Phillips 66 in the fourth quarter worth approximately $559,435,000. Boston Partners grew its position in shares of Phillips 66 by 962.0% during the 4th quarter. Boston Partners now owns 3,858,170 shares of the oil and gas company’s stock valued at $513,327,000 after acquiring an additional 3,494,878 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Phillips 66 by 38.0% in the 1st quarter. Bank of New York Mellon Corp now owns 8,019,795 shares of the oil and gas company’s stock worth $1,309,954,000 after purchasing an additional 2,209,043 shares in the last quarter. International Assets Investment Management LLC bought a new position in Phillips 66 in the 4th quarter worth $254,336,000. Finally, Wellington Management Group LLP lifted its position in Phillips 66 by 20.3% during the fourth quarter. Wellington Management Group LLP now owns 10,903,130 shares of the oil and gas company’s stock valued at $1,451,643,000 after purchasing an additional 1,842,226 shares in the last quarter. Institutional investors own 76.93% of the company’s stock.

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.