Phillips 66 (NYSE:PSX) Given New $201.00 Price Target at Wells Fargo & Company

Phillips 66 (NYSE:PSX) had its target price raised by Wells Fargo & Company from $163.00 to $201.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the oil and gas company’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 7.89% from the stock’s current price.

Several other equities analysts have also issued reports on the company. Wall Street Zen raised Phillips 66 from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 14th. JPMorgan Chase & Co. decreased their target price on Phillips 66 from $154.00 to $151.00 and set an “overweight” rating for the company in a research report on Tuesday, January 13th. Scotiabank upgraded Phillips 66 to a “hold” rating in a research note on Friday. Raymond James Financial lifted their price target on Phillips 66 from $175.00 to $205.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 25th. Finally, Jefferies Financial Group upgraded shares of Phillips 66 from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 16th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $166.11.

Phillips 66 Stock Up 0.8%

Shares of NYSE:PSX opened at $186.30 on Tuesday. The firm has a 50 day simple moving average of $160.17 and a 200-day simple moving average of $143.83. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $190.61. The company has a current ratio of 1.30, a quick ratio of 0.91 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $74.66 billion, a PE ratio of 17.23, a P/E/G ratio of 0.35 and a beta of 0.86.

Phillips 66 (NYSE:PSX) last posted its earnings results 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 firm had revenue of $32.16 billion for the quarter, compared to the consensus estimate of $33.81 billion. During the same period last year, the firm posted ($0.15) EPS. On average, equities analysts predict that Phillips 66 will post 6.8 EPS for the current fiscal year.

Insider Transactions at Phillips 66

In other Phillips 66 news, Director Lisa Ann Davis sold 3,800 shares of Phillips 66 stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $174.37, for a total value of $662,606.00. Following the completion of the transaction, the director directly owned 8,701 shares in the company, valued at $1,517,193.37. The trade was a 30.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Vanessa Allen Sutherland sold 4,394 shares of the business’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $150.00, for a total transaction of $659,100.00. Following the transaction, the executive vice president directly owned 25,799 shares of the company’s stock, valued at approximately $3,869,850. This trade represents a 14.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 84,688 shares of company stock valued at $14,066,145 over the last ninety days. Insiders own 0.22% of the company’s stock.

Hedge Funds Weigh In On Phillips 66

Several large investors have recently made changes to their positions in the business. Board of the Pension Protection Fund acquired a new stake in Phillips 66 during the 4th quarter valued at $26,000. Accordant Advisory Group Inc lifted its stake in Phillips 66 by 900.0% in the 4th quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 180 shares in the last quarter. SWAN Capital LLC grew its position in Phillips 66 by 1,055.6% during the fourth quarter. SWAN Capital LLC now owns 208 shares of the oil and gas company’s stock valued at $27,000 after purchasing an additional 190 shares in the last quarter. Evolution Wealth Management Inc. acquired a new position in Phillips 66 in the 2nd quarter valued at approximately $25,000. Finally, Eagle Bay Advisors LLC purchased a new stake in Phillips 66 in the 4th quarter worth approximately $27,000. Institutional investors own 76.93% of the company’s stock.

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.