Phillips 66 (NYSE:PSX) Given New $170.00 Price Target at Mizuho

Phillips 66 (NYSE:PSX) had its price objective hoisted by equities research analysts at Mizuho from $152.00 to $170.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the oil and gas company’s stock. Mizuho’s price objective would indicate a potential downside of 1.82% from the stock’s current price.

A number of other equities research analysts have also weighed in on PSX. Jefferies Financial Group upgraded shares of Phillips 66 from a “hold” rating to a “strong-buy” rating in a report on Monday. BMO Capital Markets reissued an “outperform” rating and set a $170.00 price target on shares of Phillips 66 in a report on Friday, February 6th. Wall Street Zen upgraded shares of Phillips 66 from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Raymond James Financial boosted their target price on shares of Phillips 66 from $160.00 to $175.00 and gave the company an “outperform” rating in a research note on Friday, January 23rd. Finally, Barclays set a $158.00 price objective on shares of Phillips 66 in a research note on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $162.33.

Phillips 66 Price Performance

Shares of NYSE:PSX traded down $0.33 during midday trading on Tuesday, reaching $173.16. 1,891,837 shares of the company’s stock traded hands, compared to its average volume of 2,846,752. The company has a market cap of $69.39 billion, a P/E ratio of 15.99, a PEG ratio of 0.60 and a beta of 0.86. The company has a fifty day simple moving average of $152.11 and a two-hundred day simple moving average of $140.46. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.91 and a current ratio of 1.30. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $178.38.

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

Insiders Place Their Bets

In related news, EVP Don Baldridge sold 7,500 shares of the stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $160.00, for a total value of $1,200,000.00. Following the completion of the sale, the executive vice president owned 38,488 shares in the company, valued at approximately $6,158,080. This trade represents a 16.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Vanessa Allen Sutherland sold 4,394 shares of the business’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $150.00, for a total value of $659,100.00. Following the transaction, the executive vice president owned 25,799 shares in the company, valued at $3,869,850. This represents a 14.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 84,688 shares of company stock valued at $14,066,145 in the last quarter. 0.22% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Phillips 66 by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 51,930,038 shares of the oil and gas company’s stock valued at $6,701,052,000 after buying an additional 205,480 shares during the period. State Street Corp boosted its position in shares of Phillips 66 by 0.8% during the 4th quarter. State Street Corp now owns 23,589,550 shares of the oil and gas company’s stock valued at $3,043,996,000 after acquiring an additional 175,616 shares in the last quarter. Elliott Investment Management L.P. boosted its position in shares of Phillips 66 by 22.4% during the 2nd quarter. Elliott Investment Management L.P. now owns 19,251,000 shares of the oil and gas company’s stock valued at $2,296,644,000 after acquiring an additional 3,526,000 shares in the last quarter. Geode Capital Management LLC increased its stake in Phillips 66 by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 10,413,824 shares of the oil and gas company’s stock valued at $1,338,596,000 after acquiring an additional 45,340 shares during the period. Finally, Norges Bank acquired a new position in Phillips 66 in the fourth quarter worth about $640,206,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

About Phillips 66

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.