Phillips 66 (NYSE:PSX) PT Lowered to $162.00

Phillips 66 (NYSE:PSX) had its price objective lowered by investment analysts at JPMorgan Chase & Co. from $165.00 to $162.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the oil and gas company’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 15.26% from the stock’s current price.

PSX has been the topic of a number of other research reports. Barclays lowered their target price on shares of Phillips 66 from $147.00 to $142.00 and set an “equal weight” rating on the stock in a research note on Monday. Bank of America upped their target price on shares of Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a research note on Friday, March 15th. The Goldman Sachs Group upped their target price on shares of Phillips 66 from $152.00 to $174.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Scotiabank upped their target price on shares of Phillips 66 from $148.00 to $156.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 11th. Finally, TD Cowen lowered their target price on shares of Phillips 66 from $164.00 to $155.00 and set a “buy” rating on the stock in a research note on Friday, June 21st. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $157.07.

Phillips 66 Stock Performance

NYSE:PSX opened at $140.55 on Tuesday. The firm’s 50-day moving average is $142.22 and its 200-day moving average is $144.98. Phillips 66 has a 52-week low of $94.51 and a 52-week high of $174.08. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.82 and a current ratio of 1.17. The company has a market cap of $59.59 billion, a price-to-earnings ratio of 10.75, a PEG ratio of 2.12 and a beta of 1.34.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.05 by ($0.15). Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. The company had revenue of $36.44 billion for the quarter, compared to the consensus estimate of $35.87 billion. During the same quarter in the previous year, the firm posted $4.21 EPS. Equities research analysts anticipate that Phillips 66 will post 10.99 earnings per share for the current year.

Insider Transactions at Phillips 66

In related news, EVP Timothy D. Roberts sold 37,742 shares of the 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 transaction, 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 available at this link. 0.22% of the stock is owned by company insiders.

Hedge Funds Weigh In On Phillips 66

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in Phillips 66 by 4.0% in the first quarter. Vanguard Group Inc. now owns 41,271,077 shares of the oil and gas company’s stock valued at $6,741,218,000 after purchasing an additional 1,578,669 shares in the last quarter. Wellington Management Group LLP increased its stake in Phillips 66 by 20.3% in 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. Bank of New York Mellon Corp increased its stake in Phillips 66 by 38.0% in the first quarter. Bank of New York Mellon Corp now owns 8,019,795 shares of the oil and gas company’s stock valued at $1,309,954,000 after purchasing an additional 2,209,043 shares in the last quarter. Morgan Stanley increased its stake in Phillips 66 by 2.1% in the third quarter. Morgan Stanley now owns 6,768,960 shares of the oil and gas company’s stock valued at $813,291,000 after purchasing an additional 138,646 shares in the last quarter. Finally, Boston Partners increased its stake in Phillips 66 by 41.4% in the first quarter. Boston Partners now owns 5,453,892 shares of the oil and gas company’s stock valued at $889,214,000 after purchasing an additional 1,595,722 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 Company Profile

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.