Phillips 66 (NYSE:PSX) Price Target Raised to $152.00

Phillips 66 (NYSE:PSX) had its target price increased by Mizuho from $150.00 to $152.00 in a report published on Monday morning, Marketbeat reports. Mizuho currently has a neutral rating on the oil and gas company’s stock.

A number of other equities analysts also recently commented on PSX. Wolfe Research boosted their price objective on shares of Phillips 66 from $158.00 to $160.00 and gave the stock an “outperform” rating in a research note on Friday, December 5th. Jefferies Financial Group lifted their price target on Phillips 66 from $133.00 to $137.00 and gave the company a “hold” rating in a report on Friday, October 10th. Evercore ISI boosted their price target on Phillips 66 from $130.00 to $170.00 and gave the stock an “outperform” rating in a research report on Friday, September 19th. Barclays upped their price objective on Phillips 66 from $141.00 to $142.00 and gave the stock an “equal weight” rating in a research note on Monday. Finally, Zacks Research upgraded Phillips 66 from a “hold” rating to a “strong-buy” rating in a research note on Thursday, December 18th. Two equities research 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $150.00.

Phillips 66 Stock Up 2.7%

NYSE:PSX opened at $141.48 on Monday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.23 and a quick ratio of 0.87. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $145.68. The company has a 50-day moving average of $136.03 and a 200 day moving average of $131.73. The firm has a market cap of $57.01 billion, a PE ratio of 38.66, a price-to-earnings-growth ratio of 0.37 and a beta of 0.90.

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

Insider Buying and Selling at Phillips 66

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the company’s stock in a transaction dated 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 transaction, the chief financial officer owned 89,771 shares in the company, valued at $12,388,398. This represents a 25.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Brian Mandell sold 25,500 shares of the stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $140.04, for a total transaction of $3,571,020.00. Following the completion of the transaction, the executive vice president directly owned 56,838 shares of the company’s stock, valued at $7,959,593.52. The trade was a 30.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 86,094 shares of company stock worth $11,955,366. 0.22% of the stock is owned by insiders.

Institutional Investors Weigh In On Phillips 66

A number of large investors have recently made changes to their positions in the stock. Elliott Investment Management L.P. boosted its stake in shares of Phillips 66 by 22.4% in the second quarter. Elliott Investment Management L.P. now owns 19,251,000 shares of the oil and gas company’s stock worth $2,296,644,000 after buying an additional 3,526,000 shares during the last quarter. Vanguard Group Inc. raised its position in 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 valued at $5,531,702,000 after acquiring an additional 5,978,841 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its holdings in Phillips 66 by 5.0% in the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 209,700 shares of the oil and gas company’s stock valued at $28,523,000 after acquiring an additional 10,000 shares during the period. Chronos Wealth Management LLC acquired a new position in Phillips 66 in the second quarter valued at approximately $281,000. Finally, Edgestream Partners L.P. purchased a new stake in Phillips 66 in the 2nd quarter worth approximately $4,952,000. 76.93% of the stock is owned by hedge funds and other 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.