Phillips 66 (NYSE:PSX) Price Target Cut to $151.00

Phillips 66 (NYSE:PSX) had its price target decreased by Piper Sandler from $170.00 to $151.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the oil and gas company’s stock. Piper Sandler’s target price suggests a potential upside of 10.41% from the company’s current price.

A number of other equities research analysts have also issued reports on the company. Barclays reduced their target price on Phillips 66 from $155.00 to $147.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 30th. The Goldman Sachs Group upped their target price on Phillips 66 from $152.00 to $174.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. JPMorgan Chase & Co. upped their target price on Phillips 66 from $149.00 to $167.00 and gave the company an “overweight” rating in a research note on Monday, April 1st. Wells Fargo & Company upped their target price on Phillips 66 from $179.00 to $191.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Finally, StockNews.com lowered Phillips 66 from a “buy” rating to a “hold” rating in a research note on Monday, May 6th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $157.57.

Phillips 66 Stock Performance

PSX opened at $136.76 on Friday. The stock has a market cap of $57.98 billion, a P/E ratio of 10.52, a P/E/G ratio of 1.89 and a beta of 1.37. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.17 and a quick ratio of 0.82. The stock’s 50 day simple moving average is $147.44 and its 200 day simple moving average is $143.86. Phillips 66 has a 1-year low of $89.74 and a 1-year high of $174.08.

Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. The company had revenue of $36.44 billion during the quarter, compared to analysts’ expectations of $35.87 billion. During the same period in the previous year, the company posted $4.21 EPS. As a group, equities analysts anticipate that Phillips 66 will post 12.16 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Timothy D. Roberts sold 37,742 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $145.80, for a total value of $5,502,783.60. Following the completion of the sale, the executive vice president now directly owns 48,365 shares in the company, valued at approximately $7,051,617. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, VP Joseph Scott Pruitt sold 5,922 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $157.40, for a total value of $932,122.80. Following the completion of the sale, the vice president now directly owns 6,583 shares in the company, valued at approximately $1,036,164.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Timothy D. Roberts sold 37,742 shares of the stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $145.80, for a total value of $5,502,783.60. Following the completion of the sale, the executive vice president now owns 48,365 shares of the company’s stock, valued at $7,051,617. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 50,864 shares of company stock valued at $7,567,178. 0.22% of the stock is currently owned by company insiders.

Institutional Trading of Phillips 66

Large investors have recently modified their holdings of the business. DekaBank Deutsche Girozentrale grew its stake in shares of Phillips 66 by 12.4% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 201,592 shares of the oil and gas company’s stock valued at $26,501,000 after acquiring an additional 22,278 shares in the last quarter. Eldred Rock Partners LLC acquired a new stake in shares of Phillips 66 during the fourth quarter valued at about $10,402,000. First Dallas Securities Inc. acquired a new stake in shares of Phillips 66 during the third quarter valued at about $753,000. TIAA Trust National Association grew its stake in shares of Phillips 66 by 32.9% during the fourth quarter. TIAA Trust National Association now owns 14,816 shares of the oil and gas company’s stock valued at $1,973,000 after acquiring an additional 3,670 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its stake in shares of Phillips 66 by 27.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 48,601 shares of the oil and gas company’s stock valued at $6,470,000 after acquiring an additional 10,536 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

About Phillips 66

Phillips 66 operates as an energy manufacturing and logistics company in the United States, the United Kingdom, Germany, and internationally. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks; delivers refined petroleum products to market; provides terminaling and storage services for crude oil and refined petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.