Phillips 66 (NYSE:PSX) Price Target Cut to $141.00

Phillips 66 (NYSE:PSX) had its price objective cut by analysts at JPMorgan Chase & Co. from $160.00 to $141.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the oil and gas company’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 5.44% from the company’s current price.

Several other analysts also recently commented on the company. Mizuho lowered their price objective on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Barclays increased their price target 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. Wolfe Research started coverage on shares of Phillips 66 in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. Raymond James increased their target price on shares of Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Finally, TD Cowen cut their price target on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $152.71.

Phillips 66 Stock Up 0.6 %

NYSE:PSX traded up $0.74 on Wednesday, hitting $133.73. The stock had a trading volume of 573,160 shares, compared to its average volume of 2,728,073. The company has a market cap of $55.98 billion, a PE ratio of 10.29, a P/E/G ratio of 5.28 and a beta of 1.33. Phillips 66 has a 52 week low of $107.85 and a 52 week high of $174.08. The business’s fifty day moving average is $134.05 and its 200 day moving average is $142.60. The company has a quick ratio of 0.79, a current ratio of 1.14 and a debt-to-equity ratio of 0.56.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data 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. The firm had revenue of $38.91 billion for the quarter, compared to analyst estimates of $37.79 billion. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The business’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period last year, the firm earned $3.87 earnings per share. On average, equities research analysts expect that Phillips 66 will post 8.27 EPS for the current fiscal year.

Insider Activity 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 stock was sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the completion of the transaction, the chief financial officer now owns 81,937 shares of the company’s stock, valued at $11,390,062.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.22% of the stock is currently owned by corporate insiders.

Institutional Trading of Phillips 66

A number of hedge funds have recently made changes to their positions in PSX. Crewe Advisors LLC bought a new stake in Phillips 66 during the 1st quarter valued at about $25,000. Keener Financial Planning LLC bought a new stake in shares of Phillips 66 in the 1st quarter worth $26,000. Strategic Financial Concepts LLC purchased a new position in shares of Phillips 66 in the second quarter worth $26,000. Ables Iannone Moore & Associates Inc. bought a new position in shares of Phillips 66 during the fourth quarter valued at $27,000. Finally, Redmont Wealth Advisors LLC bought a new stake in Phillips 66 in the 1st quarter worth about $28,000. 76.93% of the stock is owned by institutional investors.

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.