Phillips 66 (NYSE:PSX)‘s stock had its “outperform” rating reissued by equities researchers at Cowen in a note issued to investors on Wednesday, MarketBeat Ratings reports. They presently have a $137.00 price target on the oil and gas company’s stock, up from their previous price target of $125.00. Cowen’s price target would indicate a potential upside of 47.65% from the stock’s current price.
A number of other equities analysts have also commented on the stock. Barclays lowered shares of Phillips 66 from an “equal weight” rating to an “underweight” rating and boosted their price objective for the stock from $95.00 to $100.00 in a report on Tuesday, November 14th. Goldman Sachs Group upgraded shares of Phillips 66 to a “buy” rating in a report on Monday, December 18th. Credit Suisse Group started coverage on shares of Phillips 66 in a report on Wednesday, January 3rd. They issued a “neutral” rating and a $108.00 price objective on the stock. US Capital Advisors lowered shares of Phillips 66 from an “overweight” rating to a “hold” rating in a research note on Monday, December 4th. Finally, Morgan Stanley restated an “equal weight” rating on shares of Phillips 66 in a research note on Thursday, January 11th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $103.89.
Shares of Phillips 66 (PSX) traded down $0.54 during mid-day trading on Wednesday, reaching $92.79. 406,831 shares of the company’s stock were exchanged, compared to its average volume of 2,114,413. Phillips 66 has a 52-week low of $75.14 and a 52-week high of $107.47. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.31 and a quick ratio of 0.86. The firm has a market cap of $47,067.52, a price-to-earnings ratio of 9.37, a P/E/G ratio of 1.53 and a beta of 1.11.
In related news, VP Chukwuemeka A. Oyolu sold 2,700 shares of the business’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $100.25, for a total transaction of $270,675.00. Following the completion of the sale, the vice president now owns 2,700 shares of the company’s stock, valued at approximately $270,675. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.50% of the stock is owned by corporate insiders.
Several large investors have recently made changes to their positions in the stock. Waters Parkerson & CO. LLC grew its position in shares of Phillips 66 by 1.7% during the 2nd quarter. Waters Parkerson & CO. LLC now owns 3,606 shares of the oil and gas company’s stock valued at $298,000 after buying an additional 62 shares during the last quarter. EP Wealth Advisors LLC grew its position in shares of Phillips 66 by 1.9% during the 2nd quarter. EP Wealth Advisors LLC now owns 3,806 shares of the oil and gas company’s stock valued at $315,000 after buying an additional 70 shares during the last quarter. Monetary Management Group Inc. grew its position in shares of Phillips 66 by 2.1% during the 2nd quarter. Monetary Management Group Inc. now owns 4,877 shares of the oil and gas company’s stock valued at $403,000 after buying an additional 100 shares during the last quarter. Laurel Wealth Advisors Inc. grew its position in shares of Phillips 66 by 0.6% during the 2nd quarter. Laurel Wealth Advisors Inc. now owns 19,058 shares of the oil and gas company’s stock valued at $1,575,000 after buying an additional 105 shares during the last quarter. Finally, YorkBridge Wealth Partners LLC grew its position in shares of Phillips 66 by 3.2% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 4,460 shares of the oil and gas company’s stock valued at $372,000 after buying an additional 139 shares during the last quarter. 71.09% of the stock is owned by institutional investors and hedge funds.
Phillips 66 Company Profile
Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining, and marketing and specialties businesses. The Company operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment gathers, processes, transports and markets natural gas, and transports, stores, fractionates and markets natural gas liquids (NGLs) in the United States.
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