Phillips 66 (NYSE:PSX) Price Target Raised to $150.00

Phillips 66 (NYSE:PSX) had its target price raised by Mizuho from $145.00 to $150.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the oil and gas company’s stock. Mizuho’s target price suggests a potential upside of 4.63% from the stock’s previous close.

A number of other research analysts also recently issued reports on PSX. Wells Fargo & Company lifted their price target on Phillips 66 from $154.00 to $162.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. UBS Group reiterated a “buy” rating and issued a $160.00 target price on shares of Phillips 66 in a research note on Monday, November 10th. Barclays increased their price target on shares of Phillips 66 from $132.00 to $141.00 and gave the company an “equal weight” rating in a research report on Monday, November 17th. Zacks Research cut shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, October 31st. Finally, Morgan Stanley boosted their price objective on shares of Phillips 66 from $128.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Friday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and thirteen have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $148.35.

Phillips 66 Stock Down 0.3%

Shares of Phillips 66 stock opened at $143.36 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.23 and a quick ratio of 0.87. The stock has a market cap of $57.76 billion, a price-to-earnings ratio of 39.17, a PEG ratio of 0.75 and a beta of 0.92. The firm’s 50-day moving average is $135.50 and its two-hundred day moving average is $129.05. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $144.96.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.14 by $0.38. The company had revenue of $33.69 billion for the quarter, compared to analyst estimates of $32.29 billion. Phillips 66 had a net margin of 1.12% and a return on equity of 5.53%. During the same period last year, the company posted $2.04 earnings per share. As a group, research analysts expect that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Phillips 66 news, EVP Brian Mandell sold 26,200 shares of Phillips 66 stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $137.68, for a total transaction of $3,607,216.00. Following the completion of the sale, the executive vice president owned 56,838 shares of the company’s stock, valued at approximately $7,825,455.84. The trade was a 31.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the business’s stock in a transaction dated Friday, September 26th. The shares were sold at an average price of $140.00, for a total value of $615,020.00. Following the sale, the executive vice president owned 34,587 shares in the company, valued at approximately $4,842,180. The trade was a 11.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 86,093 shares of company stock worth $11,933,256 in the last 90 days. Insiders own 0.22% of the company’s stock.

Hedge Funds Weigh In On Phillips 66

A number of institutional investors have recently bought and sold shares of PSX. Elliott Investment Management L.P. increased its position in shares of Phillips 66 by 1,929.0% in the 1st quarter. Elliott Investment Management L.P. now owns 15,725,000 shares of the oil and gas company’s stock valued at $1,941,723,000 after purchasing an additional 14,950,000 shares during the last quarter. Chronos Wealth Management LLC acquired a new position in shares of Phillips 66 during the second quarter worth $281,000. Vanguard Group Inc. grew its stake in shares of Phillips 66 by 14.8% during the second quarter. Vanguard Group Inc. now owns 46,368,000 shares of the oil and gas company’s stock worth $5,531,702,000 after purchasing an additional 5,978,841 shares in the last quarter. Evergreen Wealth Solutions LLC purchased a new position in Phillips 66 in the first quarter valued at $292,000. Finally, Edgestream Partners L.P. acquired a new stake in Phillips 66 in the second quarter valued at $4,952,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Company Profile

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.