Analysts Set Phillips 66 (NYSE:PSX) Target Price at $150.41

Shares of Phillips 66 (NYSE:PSX) have received a consensus rating of “Hold” from the twenty-two brokerages that are covering the firm, Marketbeat.com reports. Thirteen research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $150.4118.

A number of research firms have recently commented on PSX. Wolfe Research increased their target price on shares of Phillips 66 from $158.00 to $160.00 and gave the stock an “outperform” rating in a report on Friday, December 5th. Scotiabank reissued a “sector perform” rating and issued a $140.00 price objective on shares of Phillips 66 in a research note on Friday, January 16th. Raymond James Financial cut their target price on shares of Phillips 66 from $169.00 to $160.00 and set an “outperform” rating on the stock in a research report on Monday, December 22nd. Piper Sandler set a $153.00 price target on shares of Phillips 66 in a report on Monday, January 12th. Finally, Jefferies Financial Group raised their price objective on Phillips 66 from $133.00 to $137.00 and gave the company a “hold” rating in a report on Friday, October 10th.

Insider Activity

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the business’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $138.00, for a total transaction of $4,140,000.00. Following the sale, the chief financial officer directly owned 89,771 shares in the company, valued at approximately $12,388,398. The trade was a 25.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Vanessa Allen Sutherland sold 4,394 shares of the firm’s stock in a transaction that occurred on Friday, January 9th. The shares were sold at an average price of $145.00, for a total transaction of $637,130.00. Following the completion of the transaction, the executive vice president owned 30,193 shares of the company’s stock, valued at approximately $4,377,985. This trade represents a 12.70% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 86,094 shares of company stock valued at $11,955,366. 0.22% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Phillips 66

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in Phillips 66 by 14.8% in the second quarter. Vanguard Group Inc. now owns 46,368,000 shares of the oil and gas company’s stock valued at $5,531,702,000 after purchasing an additional 5,978,841 shares during the period. Norges Bank acquired a new stake in shares of Phillips 66 in the second quarter valued at about $523,755,000. Elliott Investment Management L.P. increased its stake in shares of Phillips 66 by 22.4% in the second quarter. Elliott Investment Management L.P. now owns 19,251,000 shares of the oil and gas company’s stock valued at $2,296,644,000 after buying an additional 3,526,000 shares during the period. Geode Capital Management LLC raised its position in shares of Phillips 66 by 17.4% during the second quarter. Geode Capital Management LLC now owns 10,327,304 shares of the oil and gas company’s stock worth $1,226,815,000 after acquiring an additional 1,532,967 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in shares of Phillips 66 by 424.7% in the third quarter. AQR Capital Management LLC now owns 1,893,195 shares of the oil and gas company’s stock worth $257,512,000 after acquiring an additional 1,532,389 shares during the period. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Trading Up 2.3%

Shares of PSX stock opened at $141.64 on Monday. The stock’s fifty day moving average price is $136.09 and its two-hundred day moving average price is $132.25. The company has a market cap of $57.07 billion, a PE ratio of 38.70, a P/E/G ratio of 0.39 and a beta of 0.90. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $145.68. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.87 and a current ratio of 1.23.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 EPS for the quarter, topping analysts’ consensus estimates of $2.14 by $0.38. The company had revenue of $33.69 billion during the quarter, compared to analysts’ expectations of $32.29 billion. Phillips 66 had a return on equity of 5.53% and a net margin of 1.12%.During the same quarter in the previous year, the firm earned $2.04 EPS. Equities analysts predict that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Company Profile

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.