Phillips 66 (NYSE:PSX) Price Target Cut to $160.00 by Analysts at Raymond James Financial

Phillips 66 (NYSE:PSX) had its price target decreased by analysts at Raymond James Financial from $169.00 to $160.00 in a report released on Monday,MarketScreener reports. The brokerage presently has an “outperform” rating on the oil and gas company’s stock. Raymond James Financial’s target price points to a potential upside of 24.60% from the company’s current price.

A number of other brokerages have also weighed in on PSX. Wells Fargo & Company increased their target price on shares of Phillips 66 from $154.00 to $162.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Zacks Research upgraded shares of Phillips 66 from a “hold” rating to a “strong-buy” rating in a report on Thursday, December 18th. Morgan Stanley boosted their price target on shares of Phillips 66 from $128.00 to $140.00 and gave the company an “equal weight” rating in a research report on Friday, October 3rd. Bank of America cut Phillips 66 from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $144.00 to $147.00 in a research report on Wednesday, September 3rd. Finally, Mizuho upped their target price on shares of Phillips 66 from $145.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, December 12th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $147.82.

Phillips 66 Trading Down 0.5%

Shares of Phillips 66 stock opened at $128.41 on Monday. The stock has a market cap of $51.74 billion, a PE ratio of 35.08, a PEG ratio of 0.68 and a beta of 0.92. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.87 and a current ratio of 1.23. The firm has a 50-day moving average of $135.76 and a 200-day moving average of $130.33. Phillips 66 has a 52-week low of $91.01 and a 52-week 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 for the quarter, topping analysts’ consensus estimates of $2.14 by $0.38. The business had revenue of $33.69 billion for the quarter, compared to analyst estimates of $32.29 billion. Phillips 66 had a return on equity of 5.53% and a net margin of 1.12%.During the same quarter in the previous year, the company posted $2.04 EPS. As a group, sell-side analysts forecast that Phillips 66 will post 6.8 EPS for the current year.

Insider Transactions at Phillips 66

In related news, CFO Kevin J. Mitchell sold 30,000 shares of the company’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $138.00, for a total transaction of $4,140,000.00. Following the completion of the sale, the chief financial officer directly owned 89,771 shares of the company’s stock, valued at approximately $12,388,398. This represents a 25.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Brian Mandell sold 26,200 shares of the stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $137.68, for a total value of $3,607,216.00. Following the transaction, the executive vice president directly owned 56,838 shares in the company, valued at approximately $7,825,455.84. This represents a 31.55% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 86,093 shares of company stock worth $11,933,256. 0.22% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Brighton Jones LLC raised its stake in Phillips 66 by 238.5% in the fourth quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company’s stock valued at $1,166,000 after purchasing an additional 7,214 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in Phillips 66 by 0.6% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 35,467 shares of the oil and gas company’s stock worth $4,379,000 after buying an additional 219 shares during the last quarter. Jump Financial LLC lifted its position in shares of Phillips 66 by 307.1% during the first quarter. Jump Financial LLC now owns 11,276 shares of the oil and gas company’s stock worth $1,392,000 after acquiring an additional 8,506 shares in the last quarter. Gamco Investors INC. ET AL raised its stake in Phillips 66 by 77.7% in the first quarter. Gamco Investors INC. ET AL now owns 6,723 shares of the oil and gas company’s stock valued at $830,000 after purchasing an additional 2,940 shares in the last quarter. Finally, Ieq Capital LLC raised its position in Phillips 66 by 78.9% in the 1st quarter. Ieq Capital LLC now owns 42,938 shares of the oil and gas company’s stock worth $5,302,000 after purchasing an additional 18,939 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.