Raymond James Financial Increases Phillips 66 (NYSE:PSX) Price Target to $205.00

Phillips 66 (NYSE:PSX) had its price target upped by equities researchers at Raymond James Financial from $175.00 to $205.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the oil and gas company’s stock. Raymond James Financial’s price target would indicate a potential upside of 13.49% from the company’s current price.

Several other equities research analysts have also issued reports on PSX. Wells Fargo & Company lifted their price objective on shares of Phillips 66 from $162.00 to $163.00 and gave the company an “overweight” rating in a research note on Thursday, February 5th. Weiss Ratings upgraded Phillips 66 from a “hold (c)” rating to a “buy (b-)” rating in a report on Monday, February 23rd. JPMorgan Chase & Co. reduced their price target 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. TD Cowen reiterated a “buy” rating on shares of Phillips 66 in a research note on Friday, February 6th. Finally, UBS Group reissued a “buy” rating and set a $172.00 price objective on shares of Phillips 66 in a report on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $164.00.

Phillips 66 Price Performance

NYSE PSX traded down $3.49 on Wednesday, reaching $180.63. The company’s stock had a trading volume of 1,052,368 shares, compared to its average volume of 3,001,453. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $185.37. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.91 and a current ratio of 1.30. The stock has a market cap of $72.39 billion, a PE ratio of 16.71, a PEG ratio of 0.61 and a beta of 0.86. The firm’s 50 day moving average is $156.56 and its two-hundred day moving average is $142.33.

Phillips 66 (NYSE:PSX) last announced its earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.32. Phillips 66 had a return on equity of 9.13% and a net margin of 3.22%.The company had revenue of $32.16 billion for the quarter, compared to analyst estimates of $33.81 billion. During the same period in the previous year, the firm earned ($0.15) earnings per share. As a group, sell-side analysts predict that Phillips 66 will post 6.8 EPS for the current year.

Insider Transactions at Phillips 66

In other Phillips 66 news, CFO Kevin J. Mitchell sold 16,856 shares of Phillips 66 stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $168.22, for a total transaction of $2,835,516.32. Following the sale, the chief financial officer directly owned 97,376 shares of the company’s stock, valued at approximately $16,380,590.72. The trade was a 14.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Don Baldridge sold 7,500 shares of the stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $160.00, for a total value of $1,200,000.00. Following the completion of the transaction, the executive vice president directly owned 38,488 shares of the company’s stock, valued at approximately $6,158,080. The trade was a 16.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 84,688 shares of company stock worth $14,066,145. 0.22% of the stock is currently owned by company insiders.

Institutional Trading of Phillips 66

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

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.