Phillips 66 (NYSE:PSX) Given New $163.00 Price Target at Wells Fargo & Company

Phillips 66 (NYSE:PSX) had its price target raised by Wells Fargo & Company from $162.00 to $163.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an overweight rating on the oil and gas company’s stock.

A number of other analysts also recently weighed in on PSX. Wall Street Zen downgraded shares of Phillips 66 from a “buy” rating to a “hold” rating in a research report on Saturday, December 20th. TD Cowen upped their price objective on shares of Phillips 66 from $145.00 to $151.00 and gave the stock a “buy” rating in a report on Tuesday, January 20th. The Goldman Sachs Group lifted their target price on shares of Phillips 66 from $152.00 to $164.00 and gave the company a “neutral” rating in a report on Thursday, January 22nd. Raymond James Financial boosted their price target on Phillips 66 from $160.00 to $175.00 and gave the stock an “outperform” rating in a research report on Friday, January 23rd. Finally, JPMorgan Chase & Co. reduced their price objective 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. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and thirteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $155.12.

Phillips 66 Trading Down 0.3%

NYSE:PSX opened at $154.19 on Thursday. 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 has a 12 month low of $91.01 and a 12 month high of $155.99. The company has a 50-day moving average price of $138.06 and a 200-day moving average price of $133.47. The stock has a market cap of $62.13 billion, a price-to-earnings ratio of 14.25, a P/E/G ratio of 0.56 and a beta of 0.90.

Phillips 66 (NYSE:PSX) last posted its earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.32. The firm had revenue of $32.16 billion for the quarter, compared to the consensus estimate of $33.81 billion. Phillips 66 had a return on equity of 9.28% and a net margin of 3.22%.During the same quarter in the prior year, the business earned ($0.15) EPS. Equities analysts predict that Phillips 66 will post 6.8 EPS for the current year.

Insider Buying and Selling

In related news, EVP Brian Mandell sold 26,200 shares of the company’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $137.68, for a total value of $3,607,216.00. Following the transaction, the executive vice president directly owned 56,838 shares of the company’s stock, valued at approximately $7,825,455.84. This represents a 31.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Vanessa Allen Sutherland sold 4,394 shares of the stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $150.00, for a total value of $659,100.00. Following the sale, the executive vice president owned 25,799 shares in the company, valued at approximately $3,869,850. This represents a 14.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 60,488 shares of company stock valued at $8,474,466. 0.22% of the stock is owned by company insiders.

Hedge Funds Weigh In On Phillips 66

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of Phillips 66 by 14.8% in the second quarter. Vanguard Group Inc. now owns 46,368,000 shares of the oil and gas company’s stock worth $5,531,702,000 after acquiring an additional 5,978,841 shares during the period. Norges Bank purchased a new stake in Phillips 66 in the second quarter worth approximately $523,755,000. Elliott Investment Management L.P. grew its position in Phillips 66 by 22.4% in the 2nd 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 purchasing an additional 3,526,000 shares during the period. M&T Bank Corp raised its stake in Phillips 66 by 462.9% during the 4th quarter. M&T Bank Corp now owns 2,727,888 shares of the oil and gas company’s stock valued at $352,007,000 after buying an additional 2,243,268 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Phillips 66 by 17.4% during the 2nd quarter. Geode Capital Management LLC now owns 10,327,304 shares of the oil and gas company’s stock valued at $1,226,815,000 after buying an additional 1,532,967 shares during the period. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Key Phillips 66 News

Here are the key news stories impacting Phillips 66 this week:

• Positive Sentiment: Q4 earnings beat — Phillips 66 reported non‑GAAP EPS of $2.47 versus $2.15 expected, driven by higher refining utilization and rebounding margins; management highlighted strong cash flow and improving refining demand. Read More.
• Positive Sentiment: Broker upgrade — Wells Fargo raised its price target to $163 and kept an “overweight” rating, signaling upside vs. recent levels (supports near‑term bullish case). Read More.
• Neutral Sentiment: Insider sale disclosed — EVP Vanessa Allen Sutherland sold 4,394 shares at about $150 (reducing her stake ~14.6%). Insider selling can be routine but can also add slight selling pressure or investor attention. Read More.
• Negative Sentiment: Los Angeles refinery shutdown and layoffs — Bloomberg/Reuters report the company will close operations at its sole remaining California refinery and plans to lay off roughly half the site’s workforce, potentially reducing throughput, generating closure costs or write‑downs, and harming regional earnings visibility. Read More.
• Negative Sentiment: Mixed analyst signals — Morgan Stanley lifted its target to $147 but kept an “equal weight” stance; that target sits below current levels, representing downside risk relative to the market price. Read More.

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.