Phillips 66 (NYSE:PSX) PT Raised to $182.00

Phillips 66 (NYSE:PSX) had its price target boosted by equities researchers at Wells Fargo & Company from $176.00 to $182.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the oil and gas company’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 37.58% from the company’s previous close.

A number of other equities analysts also recently weighed in on the stock. Argus reaffirmed a “buy” rating and issued a $167.00 price target on shares of Phillips 66 in a research note on Thursday, May 30th. Piper Sandler dropped their target price on Phillips 66 from $170.00 to $151.00 and set an “overweight” rating on the stock in a research report on Friday, June 14th. Raymond James lifted their price target on Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Mizuho dropped their price objective on Phillips 66 from $162.00 to $160.00 and set a “neutral” rating on the stock in a report on Thursday, June 20th. Finally, Wolfe Research initiated coverage on shares of Phillips 66 in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $157.85.

Phillips 66 Stock Down 2.0 %

NYSE:PSX opened at $132.29 on Tuesday. The business’s fifty day moving average price is $137.63 and its 200 day moving average price is $145.05. The firm has a market capitalization of $55.37 billion, a price-to-earnings ratio of 10.18, a PEG ratio of 2.53 and a beta of 1.33. The company has a current ratio of 1.14, a quick ratio of 0.79 and a debt-to-equity ratio of 0.56. Phillips 66 has a 1-year low of $107.85 and a 1-year high of $174.08.

Phillips 66 (NYSE:PSX) last issued its earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $37.79 billion. During the same quarter in the prior year, the company earned $3.87 EPS. The firm’s quarterly revenue was up 8.9% on a year-over-year basis. On average, sell-side analysts forecast that Phillips 66 will post 9.25 earnings per share for the current fiscal year.

Insider Transactions at Phillips 66

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $139.01, for a total value of $4,170,300.00. Following the sale, the chief financial officer now directly owns 81,937 shares in the company, valued at approximately $11,390,062.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.22% of the company’s stock.

Institutional Trading of Phillips 66

A number of hedge funds have recently modified their holdings of the company. Crewe Advisors LLC acquired a new position in shares of Phillips 66 in the first quarter valued at $25,000. Keener Financial Planning LLC bought a new position in shares of Phillips 66 during the 1st quarter worth about $26,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Phillips 66 during the 1st quarter valued at about $28,000. Ruedi Wealth Management Inc. increased its stake in Phillips 66 by 102.1% in the first quarter. Ruedi Wealth Management Inc. now owns 190 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 96 shares during the period. Finally, Ables Iannone Moore & Associates Inc. acquired a new position in Phillips 66 in the fourth quarter worth about $27,000. 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.