Phillips 66 (NYSE:PSX) Price Target Raised to $177.00

Phillips 66 (NYSE:PSX) had its price target hoisted by research analysts at Barclays from $158.00 to $177.00 in a research note issued to investors on Wednesday,MarketScreener reports. The brokerage currently has an “equal weight” rating on the oil and gas company’s stock. Barclays‘s price target suggests a potential upside of 6.97% from the stock’s previous close.

Other equities analysts have also recently issued reports about the stock. TD Cowen upped their price objective on shares of Phillips 66 from $155.00 to $213.00 and gave the company a “buy” rating in a research report on Wednesday, April 1st. UBS Group upped their price objective on shares of Phillips 66 from $172.00 to $212.00 and gave the company a “buy” rating in a research report on Thursday, April 2nd. Wells Fargo & Company upped their price objective on shares of Phillips 66 from $163.00 to $201.00 and gave the company an “overweight” rating in a research report on Tuesday, March 31st. Jefferies Financial Group raised shares of Phillips 66 from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 16th. Finally, Citigroup increased their price target on shares of Phillips 66 from $146.00 to $159.00 and gave the stock a “neutral” rating in a research report on Monday, February 9th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat, Phillips 66 has an average rating of “Moderate Buy” and a consensus target price of $179.06.

Phillips 66 Stock Performance

NYSE:PSX opened at $165.47 on Wednesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.30 and a quick ratio of 0.91. The firm has a 50-day moving average of $164.51 and a two-hundred day moving average of $145.74. The stock has a market cap of $66.31 billion, a P/E ratio of 15.29, a PEG ratio of 0.31 and a beta of 0.76. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $190.61.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Wednesday, February 4th. The oil and gas company reported $2.47 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.32. The company had revenue of $32.16 billion during the quarter, compared to analysts’ expectations of $33.81 billion. Phillips 66 had a net margin of 3.22% and a return on equity of 9.13%. During the same period in the prior year, the company posted ($0.15) EPS. On average, research analysts expect that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Insider Buying and Selling at Phillips 66

In related news, CFO Kevin J. Mitchell sold 16,856 shares of the stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $168.22, for a total transaction of $2,835,516.32. Following the sale, the chief financial officer owned 97,376 shares in the company, valued at $16,380,590.72. This represents a 14.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lisa Ann Davis sold 3,800 shares of the stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $174.37, for a total transaction of $662,606.00. Following the sale, the director owned 8,701 shares in the company, valued at approximately $1,517,193.37. This trade represents a 30.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 100,317 shares of company stock valued at $17,036,749. Corporate insiders own 0.22% of the company’s stock.

Institutional Investors Weigh In On Phillips 66

Several institutional investors and hedge funds have recently bought and sold shares of PSX. Vanguard Group Inc. raised its stake in Phillips 66 by 11.6% during the third quarter. Vanguard Group Inc. now owns 51,724,558 shares of the oil and gas company’s stock worth $7,035,574,000 after acquiring an additional 5,356,558 shares during the period. Norges Bank acquired a new stake in Phillips 66 during the fourth quarter worth about $640,206,000. Elliott Investment Management L.P. raised its stake in Phillips 66 by 22.4% during the second quarter. Elliott Investment Management L.P. now owns 19,251,000 shares of the oil and gas company’s stock worth $2,296,644,000 after acquiring an additional 3,526,000 shares during the period. M&T Bank Corp raised its stake in Phillips 66 by 462.9% during the fourth quarter. M&T Bank Corp now owns 2,727,888 shares of the oil and gas company’s stock worth $352,007,000 after acquiring an additional 2,243,268 shares during the period. Finally, AQR Capital Management LLC raised its stake in Phillips 66 by 424.7% during 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 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.