Phillips 66 (NYSE:PSX) Price Target Raised to $170.00 at Mizuho

Phillips 66 (NYSE:PSX) had its price target upped by Mizuho from $152.00 to $170.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the oil and gas company’s stock. Mizuho’s target price would indicate a potential downside of 1.82% from the company’s previous close.

A number of other equities research analysts also recently commented on PSX. Jefferies Financial Group upgraded Phillips 66 from a “hold” rating to a “strong-buy” rating in a report on Monday. Piper Sandler increased their price objective on shares of Phillips 66 from $153.00 to $156.00 and gave the stock a “neutral” rating in a research report on Thursday, February 5th. JPMorgan Chase & Co. lowered their price target on shares of Phillips 66 from $154.00 to $151.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 13th. Weiss Ratings raised Phillips 66 from a “hold (c)” rating to a “buy (b-)” rating in a report on Monday, February 23rd. Finally, Wolfe Research raised their target price on shares of Phillips 66 from $159.00 to $164.00 and gave the company an “outperform” rating in a report on Monday, January 26th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $162.33.

Phillips 66 Price Performance

NYSE:PSX traded down $0.33 on Tuesday, reaching $173.16. The stock had a trading volume of 1,891,837 shares, compared to its average volume of 2,846,752. The company has a quick ratio of 0.91, a current ratio of 1.30 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $69.39 billion, a P/E ratio of 15.99, a price-to-earnings-growth ratio of 0.60 and a beta of 0.86. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $178.38. The stock has a fifty day moving average price of $152.11 and a 200-day moving average price of $140.46.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.32. Phillips 66 had a net margin of 3.22% and a return on equity of 9.13%. The business had revenue of $32.16 billion for the quarter, compared to the consensus estimate of $33.81 billion. During the same quarter in the prior year, the company earned ($0.15) EPS. Research analysts forecast that Phillips 66 will post 6.8 EPS for the current year.

Insiders Place Their Bets

In other Phillips 66 news, EVP Don Baldridge sold 7,500 shares of the firm’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $160.00, for a total value of $1,200,000.00. Following the completion of the sale, the executive vice president directly owned 38,488 shares in the company, valued at approximately $6,158,080. This trade represents a 16.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Brian Mandell sold 42,800 shares of the stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $169.53, for a total transaction of $7,255,884.00. Following the transaction, the executive vice president directly owned 61,595 shares in the company, valued at $10,442,200.35. This trade represents a 41.00% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 84,688 shares of company stock valued at $14,066,145. 0.22% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Phillips 66

A number of institutional investors have recently added to or reduced their stakes in the company. Evolution Wealth Management Inc. purchased a new position in Phillips 66 in the second quarter worth $25,000. Board of the Pension Protection Fund bought a new stake in shares of Phillips 66 during the 4th quarter worth $26,000. Accordant Advisory Group Inc boosted its holdings in shares of Phillips 66 by 900.0% in the 4th quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company’s stock worth $26,000 after buying an additional 180 shares during the last quarter. Eagle Bay Advisors LLC bought a new position in Phillips 66 during the fourth quarter valued at about $27,000. Finally, SWAN Capital LLC grew its position in Phillips 66 by 1,055.6% during the fourth quarter. SWAN Capital LLC now owns 208 shares of the oil and gas company’s stock valued at $27,000 after buying an additional 190 shares during the period. 76.93% of the stock is owned by institutional investors.

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.