Phillips 66 (NYSE:PSX) Raised to “Strong-Buy” at Wall Street Zen

Phillips 66 (NYSE:PSX) was upgraded by stock analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued on Saturday.

A number of other research analysts have also weighed in on PSX. Weiss Ratings lowered shares of Phillips 66 from a “buy (b-)” rating to a “hold (c)” rating in a research note on Friday, May 1st. Citigroup lifted their price target on shares of Phillips 66 from $159.00 to $183.00 and gave the company a “neutral” rating in a research note on Thursday, April 9th. Raymond James Financial lifted their price target on shares of Phillips 66 from $215.00 to $218.00 and gave the company an “outperform” rating in a research note on Wednesday. Scotiabank lifted their price target on shares of Phillips 66 from $140.00 to $151.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 22nd. Finally, Barclays lifted their price target on shares of Phillips 66 from $158.00 to $177.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 8th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, Phillips 66 has a consensus rating of “Moderate Buy” and an average price target of $192.33.

Phillips 66 Price Performance

Shares of PSX stock opened at $179.27 on Friday. Phillips 66 has a 12-month low of $118.00 and a 12-month high of $190.61. The firm has a market capitalization of $71.87 billion, a price-to-earnings ratio of 17.66, a price-to-earnings-growth ratio of 0.26 and a beta of 0.68. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.63. The firm has a fifty day moving average of $172.49 and a 200-day moving average of $157.75.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.54) by $1.03. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. The company had revenue of $32.54 billion during the quarter, compared to analyst estimates of $35.86 billion. During the same quarter in the previous year, the business earned ($0.90) EPS. The firm’s revenue was up 6.9% on a year-over-year basis. On average, equities research analysts forecast that Phillips 66 will post 17.86 earnings per share for the current year.

Insiders Place Their Bets

In other Phillips 66 news, Director Kevin Omar Meyers acquired 175 shares of the business’s stock in a transaction dated Wednesday, May 6th. The shares were acquired at an average price of $173.12 per share, with a total value of $30,296.00. Following the completion of the transaction, the director directly owned 16,799 shares in the company, valued at $2,908,242.88. This trade represents a 1.05% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Kevin J. Mitchell sold 600 shares of the business’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $171.56, for a total transaction of $102,936.00. Following the completion of the sale, the chief financial officer directly owned 97,376 shares in the company, valued at approximately $16,705,826.56. This represents a 0.61% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 45,629 shares of company stock worth $8,071,540. 0.40% of the stock is currently owned by insiders.

Institutional Trading of Phillips 66

A number of institutional investors have recently made changes to their positions in the business. Clifford Group LLC lifted its position in shares of Phillips 66 by 2.0% in the fourth quarter. Clifford Group LLC now owns 3,315 shares of the oil and gas company’s stock worth $428,000 after purchasing an additional 64 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC lifted its position in shares of Phillips 66 by 0.8% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 8,255 shares of the oil and gas company’s stock worth $1,504,000 after purchasing an additional 65 shares in the last quarter. CYBER HORNET ETFs LLC lifted its position in shares of Phillips 66 by 5.7% in the fourth quarter. CYBER HORNET ETFs LLC now owns 1,228 shares of the oil and gas company’s stock worth $158,000 after purchasing an additional 66 shares in the last quarter. GHP Investment Advisors Inc. raised its position in Phillips 66 by 2.3% during the fourth quarter. GHP Investment Advisors Inc. now owns 3,210 shares of the oil and gas company’s stock worth $414,000 after acquiring an additional 72 shares in the last quarter. Finally, Johnson Financial Group Inc. raised its position in Phillips 66 by 11.9% during the fourth quarter. Johnson Financial Group Inc. now owns 679 shares of the oil and gas company’s stock worth $88,000 after acquiring an additional 72 shares in the last quarter. Institutional investors 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.