Phillips 66 (NYSE:PSX) Price Target Cut to $167.00

Phillips 66 (NYSE:PSX) had its target price cut by equities research analysts at Wells Fargo & Company from $182.00 to $167.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the oil and gas company’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 25.13% from the stock’s previous close.

Other research analysts have also issued reports about the stock. JPMorgan Chase & Co. decreased their price objective on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a report on Wednesday, October 2nd. Raymond James increased their price target on shares of Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Wolfe Research initiated coverage on Phillips 66 in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Piper Sandler upped their target price on Phillips 66 from $136.00 to $144.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, Scotiabank lowered their target price on Phillips 66 from $156.00 to $145.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. Six equities 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 company currently has an average rating of “Moderate Buy” and an average price target of $151.86.

Phillips 66 Trading Up 0.9 %

Shares of NYSE:PSX traded up $1.13 during midday trading on Wednesday, hitting $133.46. 273,665 shares of the stock traded hands, compared to its average volume of 2,715,575. The company has a quick ratio of 0.79, a current ratio of 1.14 and a debt-to-equity ratio of 0.56. The business’s 50 day moving average is $133.50 and its two-hundred day moving average is $141.83. The stock has a market capitalization of $56.58 billion, a PE ratio of 10.27, a P/E/G ratio of 5.46 and a beta of 1.33. Phillips 66 has a one year low of $107.85 and a one year high of $174.08.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $0.33. The business had revenue of $38.91 billion during the quarter, compared to analyst estimates of $37.79 billion. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. Phillips 66’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.87 EPS. As a group, research analysts forecast that Phillips 66 will post 8.21 earnings per share for the current year.

Insider Buying and Selling at Phillips 66

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the company’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 81,937 shares in the company, valued at approximately $11,390,062.37. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.22% of the stock is owned by company insiders.

Hedge Funds Weigh In On Phillips 66

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PSX. Madison Park Capital Advisors LLC increased its holdings in shares of Phillips 66 by 3.0% in the 1st quarter. Madison Park Capital Advisors LLC now owns 2,346 shares of the oil and gas company’s stock worth $383,000 after purchasing an additional 68 shares in the last quarter. MV Capital Management Inc. increased 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 worth $137,000 after buying an additional 73 shares in the last quarter. Mitchell & Pahl Private Wealth LLC increased its holdings in Phillips 66 by 0.4% in 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 buying an additional 74 shares in the last quarter. Catalyst Financial Partners LLC raised its position in Phillips 66 by 5.1% in the 2nd quarter. Catalyst Financial Partners LLC now owns 1,514 shares of the oil and gas company’s stock worth $214,000 after buying an additional 74 shares during the last quarter. Finally, Claro Advisors LLC lifted its stake in Phillips 66 by 4.5% during the 1st quarter. Claro Advisors LLC now owns 1,738 shares of the oil and gas company’s stock valued at $284,000 after acquiring an additional 75 shares during the period. 76.93% of the stock is owned by institutional investors.

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.