Phillips 66 (NYSE:PSX) Price Target Raised to $175.00

Phillips 66 (NYSE:PSX) had its price target increased by Raymond James Financial from $160.00 to $175.00 in a report published on Friday morning,MarketScreener reports. The brokerage currently has an outperform rating on the oil and gas company’s stock.

A number of other equities analysts also recently weighed in on PSX. Zacks Research downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 16th. JPMorgan Chase & Co. dropped their price objective on Phillips 66 from $154.00 to $151.00 and set an “overweight” rating for the company in a report on Tuesday, January 13th. Wolfe Research lifted their target price on Phillips 66 from $158.00 to $160.00 and gave the company an “outperform” rating in a report on Friday, December 5th. BMO Capital Markets upped their price target on Phillips 66 from $152.00 to $160.00 in a research note on Tuesday, November 11th. Finally, Barclays raised their price objective on Phillips 66 from $141.00 to $142.00 and gave the stock an “equal weight” rating in a report on Monday, January 12th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and thirteen have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $153.53.

Phillips 66 Stock Performance

Phillips 66 stock opened at $141.51 on Friday. The stock has a fifty day moving average price of $136.13 and a 200 day moving average price of $132.45. Phillips 66 has a 52 week low of $91.01 and a 52 week high of $146.88. The firm has a market capitalization of $57.02 billion, a P/E ratio of 38.66, a PEG ratio of 0.40 and a beta of 0.90. The company has a current ratio of 1.23, a quick ratio of 0.87 and a debt-to-equity ratio of 0.68.

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

Insider Buying and Selling

In related news, EVP Brian Mandell sold 25,500 shares of the company’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $140.04, for a total value of $3,571,020.00. Following the sale, the executive vice president directly owned 56,838 shares of the company’s stock, valued at $7,959,593.52. This represents a 30.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Kevin J. Mitchell sold 30,000 shares of the firm’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $138.00, for a total transaction of $4,140,000.00. Following the transaction, the chief financial officer directly owned 89,771 shares of the company’s stock, valued at approximately $12,388,398. This represents a 25.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 86,094 shares of company stock worth $11,955,366. Insiders own 0.22% of the company’s stock.

Institutional Trading of Phillips 66

Several institutional investors and hedge funds have recently bought and sold shares of the company. Evolution Wealth Management Inc. acquired a new stake in shares of Phillips 66 during the 2nd quarter valued at approximately $25,000. Wolff Wiese Magana LLC raised its holdings in shares of Phillips 66 by 62.1% during the second quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 82 shares during the period. Board of the Pension Protection Fund bought a new position in shares of Phillips 66 in the 4th quarter worth about $26,000. Accordant Advisory Group Inc lifted its position 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 worth $26,000 after buying an additional 180 shares during the last quarter. Finally, Eagle Bay Advisors LLC acquired a new position in shares of Phillips 66 in the 4th quarter valued at about $27,000. Institutional investors and hedge funds 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.