Phillips 66 (NYSE:PSX) Price Target Lowered to $144.00 at Morgan Stanley

Phillips 66 (NYSE:PSX) had its price objective cut by Morgan Stanley from $150.00 to $144.00 in a report released on Monday, Benzinga reports. The firm presently has an “equal weight” rating on the oil and gas company’s stock. Morgan Stanley’s price target would indicate a potential upside of 12.24% from the company’s current price.

A number of other brokerages have also weighed in on PSX. Wolfe Research began coverage on shares of Phillips 66 in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. JPMorgan Chase & Co. cut their price objective on Phillips 66 from $165.00 to $162.00 and set an “overweight” rating on the stock in a report on Tuesday, July 2nd. Barclays upped their target price on Phillips 66 from $136.00 to $138.00 and gave the company an “equal weight” rating in a research report on Monday, August 5th. Mizuho cut their price target on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a report on Monday. Finally, Wells Fargo & Company lifted their price objective on shares of Phillips 66 from $176.00 to $182.00 and gave the company an “overweight” rating in a research note on Tuesday, September 3rd. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $155.29.

Phillips 66 Trading Up 0.8 %

Shares of NYSE:PSX opened at $128.30 on Monday. The business’s 50-day moving average is $135.53 and its 200 day moving average is $143.96. 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 firm has a market capitalization of $53.70 billion, a P/E ratio of 9.87, a P/E/G ratio of 4.53 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.33. The firm had revenue of $38.91 billion for the quarter, compared to the consensus estimate of $37.79 billion. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.87 earnings per share. On average, research analysts predict that Phillips 66 will post 9.25 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $139.01, for a total value of $4,170,300.00. Following the transaction, the chief financial officer now owns 81,937 shares in the company, valued at $11,390,062.37. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.22% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PSX. Madison Park Capital Advisors LLC grew its holdings in shares of Phillips 66 by 3.0% during the first quarter. Madison Park Capital Advisors LLC now owns 2,346 shares of the oil and gas company’s stock worth $383,000 after buying an additional 68 shares in the last quarter. Warwick Investment Management Inc. raised its holdings in Phillips 66 by 3.1% in the 4th quarter. Warwick Investment Management Inc. now owns 2,395 shares of the oil and gas company’s stock valued at $319,000 after acquiring an additional 73 shares during the last quarter. MV Capital Management Inc. raised its holdings in Phillips 66 by 9.6% in the 1st quarter. MV Capital Management Inc. now owns 837 shares of the oil and gas company’s stock valued at $137,000 after acquiring an additional 73 shares during the last quarter. HCR Wealth Advisors lifted its stake in Phillips 66 by 2.9% in the 4th quarter. HCR Wealth Advisors now owns 2,640 shares of the oil and gas company’s stock worth $351,000 after purchasing an additional 74 shares in the last quarter. Finally, Mitchell & Pahl Private Wealth LLC boosted its holdings in shares of Phillips 66 by 0.4% during the 2nd quarter. Mitchell & Pahl Private Wealth LLC now owns 17,847 shares of the oil and gas company’s stock worth $2,519,000 after purchasing an additional 74 shares during the last quarter. 76.93% of the stock is 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.