Barclays Cuts Phillips 66 (NYSE:PSX) Price Target to $147.00

Phillips 66 (NYSE:PSX) had its price target decreased by stock analysts at Barclays from $155.00 to $147.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the oil and gas company’s stock. Barclays‘s price objective points to a potential upside of 0.49% from the stock’s current price.

A number of other research firms have also recently issued reports on PSX. JPMorgan Chase & Co. increased their price target on Phillips 66 from $149.00 to $167.00 and gave the stock an “overweight” rating in a report on Monday, April 1st. The Goldman Sachs Group boosted their price target on shares of Phillips 66 from $152.00 to $174.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Piper Sandler upped their price objective on shares of Phillips 66 from $169.00 to $187.00 and gave the company an “overweight” rating in a research note on Friday, April 5th. StockNews.com cut Phillips 66 from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Scotiabank boosted their price objective on shares of Phillips 66 from $148.00 to $156.00 and gave the company a “sector outperform” rating in a report on Thursday, April 11th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $157.43.

Phillips 66 Price Performance

Shares of PSX stock traded down $5.25 during mid-day trading on Tuesday, reaching $146.29. The company’s stock had a trading volume of 681,709 shares, compared to its average volume of 2,944,108. The company has a market cap of $62.59 billion, a P/E ratio of 11.35, a PEG ratio of 1.83 and a beta of 1.37. Phillips 66 has a 1-year low of $89.74 and a 1-year high of $174.08. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.02 and a current ratio of 1.26. The firm’s 50-day moving average is $155.70 and its two-hundred day moving average is $137.52.

Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). Phillips 66 had a return on equity of 19.07% and a net margin of 3.84%. The business had revenue of $36.44 billion for the quarter, compared to the consensus estimate of $35.87 billion. During the same period in the previous year, the company posted $4.21 earnings per share. On average, research analysts predict that Phillips 66 will post 13.77 earnings per share for the current year.

Insider Transactions at Phillips 66

In other Phillips 66 news, VP Joseph Scott Pruitt sold 7,200 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $157.26, for a total value of $1,132,272.00. Following the completion of the transaction, the vice president now directly owns 6,583 shares in the company, valued at approximately $1,035,242.58. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Phillips 66 news, VP Joseph Scott Pruitt sold 7,200 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $157.26, for a total value of $1,132,272.00. Following the transaction, the vice president now owns 6,583 shares in the company, valued at $1,035,242.58. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Robert W. Pease acquired 682 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was purchased at an average price of $146.58 per share, with a total value of $99,967.56. Following the purchase, the director now owns 1,900 shares in the company, valued at approximately $278,502. The disclosure for this purchase can be found here. In the last quarter, insiders sold 35,056 shares of company stock valued at $5,272,681. Corporate insiders own 0.22% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Ables Iannone Moore & Associates Inc. bought a new position in shares of Phillips 66 during the 4th quarter valued at about $27,000. Redmont Wealth Advisors LLC bought a new stake in Phillips 66 in the first quarter worth $28,000. First United Bank & Trust purchased a new stake in Phillips 66 in the 4th quarter worth about $31,000. Cornerstone Planning Group LLC lifted its stake in shares of Phillips 66 by 134.8% during the 3rd quarter. Cornerstone Planning Group LLC now owns 263 shares of the oil and gas company’s stock worth $32,000 after acquiring an additional 151 shares during the last quarter. Finally, Signature Resources Capital Management LLC purchased a new position in Phillips 66 in the 4th quarter worth about $33,000. 76.93% of the stock is owned by hedge funds and other 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.