Phillips 66 (NYSE:PSX) Price Target Raised to $205.00 at Raymond James Financial

Phillips 66 (NYSE:PSX) had its price objective raised by equities researchers at Raymond James Financial from $175.00 to $205.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the oil and gas company’s stock. Raymond James Financial’s price target would suggest a potential upside of 13.49% from the company’s current price.

Several other analysts also recently issued reports on PSX. Argus lifted their price target on Phillips 66 from $152.00 to $185.00 and gave the company a “buy” rating in a research note on Tuesday, February 10th. Barclays set a $158.00 price objective on Phillips 66 in a report on Friday, February 20th. Weiss Ratings raised Phillips 66 from a “hold (c)” rating to a “buy (b-)” rating in a research report on Monday, February 23rd. UBS Group restated a “buy” rating and issued a $172.00 target price on shares of Phillips 66 in a research note on Friday, February 6th. Finally, Scotiabank reaffirmed a “sector perform” rating and set a $140.00 price target on shares of Phillips 66 in a research report on Friday, January 16th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $164.00.

Phillips 66 Stock Down 1.9%

Shares of NYSE PSX traded down $3.49 during mid-day trading on Wednesday, reaching $180.63. 1,052,368 shares of the company’s stock were exchanged, compared to its average volume of 3,001,453. The firm has a market capitalization of $72.39 billion, a price-to-earnings ratio of 16.71, a PEG ratio of 0.61 and a beta of 0.86. The company has a current ratio of 1.30, a quick ratio of 0.91 and a debt-to-equity ratio of 0.62. The business has a fifty day simple moving average of $156.56 and a 200 day simple moving average of $142.33. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $185.37.

Phillips 66 (NYSE:PSX) last announced its earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 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 firm had revenue of $32.16 billion for the quarter, compared to the consensus estimate of $33.81 billion. During the same period last year, the company posted ($0.15) EPS. As a group, equities analysts expect that Phillips 66 will post 6.8 EPS for the current fiscal year.

Insider Transactions at Phillips 66

In other news, EVP Brian Mandell sold 42,800 shares of the stock in a transaction that occurred on 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 owned 61,595 shares in the company, valued at approximately $10,442,200.35. This trade represents a 41.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lisa Ann Davis sold 3,800 shares of Phillips 66 stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $174.37, for a total value of $662,606.00. Following the sale, the director directly owned 8,701 shares of the company’s stock, valued at approximately $1,517,193.37. The trade was a 30.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 84,688 shares of company stock valued at $14,066,145. Company insiders own 0.22% of the company’s stock.

Institutional Investors Weigh In On Phillips 66

Hedge funds and other institutional investors have recently modified their holdings of the company. Old North State Trust LLC increased its position in shares of Phillips 66 by 10.8% in the fourth quarter. Old North State Trust LLC now owns 5,664 shares of the oil and gas company’s stock worth $731,000 after purchasing an additional 552 shares during the period. Rockefeller Capital Management L.P. grew its stake in Phillips 66 by 5.4% during the fourth quarter. Rockefeller Capital Management L.P. now owns 150,396 shares of the oil and gas company’s stock worth $19,407,000 after buying an additional 7,758 shares in the last quarter. World Investment Advisors grew its stake in Phillips 66 by 5.1% during the fourth quarter. World Investment Advisors now owns 12,407 shares of the oil and gas company’s stock worth $1,601,000 after buying an additional 599 shares in the last quarter. Green Ridge Wealth Planning LLC bought a new position in Phillips 66 in the 4th quarter valued at about $250,000. Finally, Bayban acquired a new position in shares of Phillips 66 in the 4th quarter valued at approximately $58,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

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.