Raymond James Financial Issues Positive Forecast for Phillips 66 (NYSE:PSX) Stock Price

Phillips 66 (NYSE:PSX) had its price target boosted by stock analysts at Raymond James Financial from $160.00 to $175.00 in a research report issued on Friday,MarketScreener reports. The brokerage presently has an “outperform” rating on the oil and gas company’s stock. Raymond James Financial’s price objective indicates a potential upside of 23.67% from the stock’s previous close.

PSX has been the topic of several other reports. Piper Sandler set a $153.00 price objective on Phillips 66 in a research report on Monday, January 12th. BMO Capital Markets upped their price target on Phillips 66 from $152.00 to $160.00 in a research note on Tuesday, November 11th. Wolfe Research lifted their price objective on shares of Phillips 66 from $158.00 to $160.00 and gave the company an “outperform” rating in a research report on Friday, December 5th. UBS Group reissued a “buy” rating on shares of Phillips 66 in a report on Tuesday, January 6th. Finally, Morgan Stanley raised their target price on shares of Phillips 66 from $128.00 to $140.00 and gave the company an “equal weight” rating in a research note on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and thirteen have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $153.53.

Phillips 66 Price Performance

Shares of PSX traded down $0.42 during mid-day trading on Friday, reaching $141.51. The stock had a trading volume of 2,046,767 shares, compared to its average volume of 2,216,975. The business has a fifty day moving average of $136.13 and a 200 day moving average of $132.42. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.87 and a current ratio of 1.23. The firm has a market cap of $57.02 billion, a price-to-earnings ratio of 38.66, a PEG ratio of 0.41 and a beta of 0.90. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $146.88.

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

Insider Buying and Selling at Phillips 66

In related news, EVP Vanessa Allen Sutherland sold 4,394 shares of Phillips 66 stock in a transaction on Friday, January 9th. The shares were sold at an average price of $145.00, for a total value of $637,130.00. Following the sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Brian Mandell sold 25,500 shares of the business’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $140.04, for a total transaction of $3,571,020.00. Following the completion of the sale, the executive vice president directly owned 56,838 shares of the company’s stock, valued at approximately $7,959,593.52. The trade was a 30.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 86,094 shares of company stock valued at $11,955,366. Company insiders own 0.22% of the company’s stock.

Institutional Trading of Phillips 66

Several institutional investors have recently modified their holdings of the stock. L2 Asset Management LLC increased its stake in Phillips 66 by 4.0% during the 3rd quarter. L2 Asset Management LLC now owns 1,893 shares of the oil and gas company’s stock worth $257,000 after buying an additional 72 shares in the last quarter. Mesirow Financial Investment Management Inc. increased its position in shares of Phillips 66 by 0.5% during the third quarter. Mesirow Financial Investment Management Inc. now owns 15,658 shares of the oil and gas company’s stock worth $2,130,000 after purchasing an additional 73 shares in the last quarter. KCM Investment Advisors LLC raised its stake in Phillips 66 by 1.6% in the 3rd quarter. KCM Investment Advisors LLC now owns 4,636 shares of the oil and gas company’s stock valued at $631,000 after purchasing an additional 74 shares during the last quarter. Abacus Planning Group Inc. lifted its holdings in Phillips 66 by 3.9% in the 4th quarter. Abacus Planning Group Inc. now owns 1,989 shares of the oil and gas company’s stock valued at $257,000 after purchasing an additional 74 shares in the last quarter. Finally, Heck Capital Advisors LLC boosted its stake in Phillips 66 by 1.2% during the 3rd quarter. Heck Capital Advisors LLC now owns 6,124 shares of the oil and gas company’s stock worth $833,000 after purchasing an additional 75 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

About Phillips 66

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.