Barclays Issues Pessimistic Forecast for Phillips 66 (NYSE:PSX) Stock Price

Phillips 66 (NYSE:PSX) had its target price trimmed by Barclays from $124.00 to $115.00 in a report published on Monday,Benzinga reports. They currently have an equal weight rating on the oil and gas company’s stock.

Several other brokerages have also issued reports on PSX. Bank of America started coverage on Phillips 66 in a report on Thursday, October 17th. They set a “buy” rating and a $156.00 price target for the company. Scotiabank cut their target price on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective on the stock in a research note on Friday, January 3rd. Morgan Stanley decreased their target price on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Finally, Mizuho reduced their price objective on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $147.93.

Phillips 66 Trading Up 1.8 %

NYSE:PSX opened at $116.02 on Monday. The stock has a market cap of $47.91 billion, a PE ratio of 14.89, a price-to-earnings-growth ratio of 4.06 and a beta of 1.38. Phillips 66 has a fifty-two week low of $108.90 and a fifty-two week high of $174.08. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The stock’s 50-day moving average is $123.00 and its two-hundred day moving average is $130.20.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.41. The firm had revenue of $36.16 billion for the quarter, compared to analyst estimates of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The company’s revenue for the quarter was down 10.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.63 EPS. As a group, equities research analysts forecast that Phillips 66 will post 7.56 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Phillips 66

Large investors have recently added to or reduced their stakes in the company. Advisory Alpha LLC grew its holdings in shares of Phillips 66 by 4.8% during the 2nd quarter. Advisory Alpha LLC now owns 1,648 shares of the oil and gas company’s stock worth $233,000 after purchasing an additional 76 shares in the last quarter. Krane Funds Advisors LLC increased its holdings in Phillips 66 by 3.6% in the 3rd quarter. Krane Funds Advisors LLC now owns 2,350 shares of the oil and gas company’s stock valued at $309,000 after buying an additional 82 shares during the period. Richwood Investment Advisors LLC raised its stake in shares of Phillips 66 by 1.9% in the 3rd quarter. Richwood Investment Advisors LLC now owns 4,580 shares of the oil and gas company’s stock valued at $602,000 after buying an additional 85 shares in the last quarter. Cobblestone Capital Advisors LLC NY lifted its holdings in shares of Phillips 66 by 0.5% during the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 17,548 shares of the oil and gas company’s stock worth $2,307,000 after acquiring an additional 89 shares during the period. Finally, Western Financial Corp CA boosted its position in shares of Phillips 66 by 1.6% during the 3rd quarter. Western Financial Corp CA now owns 5,882 shares of the oil and gas company’s stock valued at $773,000 after acquiring an additional 91 shares in the last quarter. Institutional investors and hedge funds 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.