Piper Sandler Reaffirms “Neutral” Rating for Phillips 66 (NYSE:PSX)

Phillips 66 (NYSE:PSX)‘s stock had its “neutral” rating reiterated by equities researchers at Piper Sandler in a research report issued on Thursday, Marketbeat.com reports. They presently have a $208.00 target price on the oil and gas company’s stock. Piper Sandler’s price target suggests a potential upside of 0.51% from the company’s current price.

Several other research analysts have also recently issued reports on PSX. BMO Capital Markets upped their price objective on Phillips 66 from $195.00 to $215.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 13th. Wall Street Zen lowered Phillips 66 from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 18th. Morgan Stanley boosted their target price on Phillips 66 from $180.00 to $196.00 and gave the stock an “overweight” rating in a research note on Friday, June 12th. Wells Fargo & Company upped their price target on Phillips 66 from $163.00 to $201.00 and gave the company an “overweight” rating in a report on Tuesday, March 31st. Finally, Zacks Research lowered shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, Phillips 66 has an average rating of “Moderate Buy” and a consensus target price of $200.44.

Phillips 66 Price Performance

Shares of PSX opened at $206.94 on Thursday. The firm has a market capitalization of $82.97 billion, a price-to-earnings ratio of 20.39, a PEG ratio of 0.17 and a beta of 0.69. The firm’s fifty day simple moving average is $182.54 and its 200-day simple moving average is $168.28. Phillips 66 has a twelve month low of $118.07 and a twelve month high of $216.08. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63.

Phillips 66 (NYSE:PSX) last issued its earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of ($0.54) by $1.03. The firm had revenue of $32.54 billion during the quarter, compared to the consensus estimate of $35.86 billion. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. The company’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.90) earnings per share. Equities analysts forecast that Phillips 66 will post 21.96 EPS for the current fiscal year.

Insider Transactions at Phillips 66

In other Phillips 66 news, CFO Kevin J. Mitchell sold 11,021 shares of the business’s stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $190.03, for a total value of $2,094,320.63. Following the completion of the sale, the chief financial officer owned 97,376 shares in the company, valued at approximately $18,504,361.28. The trade was a 10.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kevin Omar Meyers purchased 175 shares of Phillips 66 stock in a transaction that occurred on Wednesday, May 6th. The stock was acquired at an average price of $173.12 per share, with a total value of $30,296.00. Following the transaction, the director owned 16,799 shares in the company, valued at $2,908,242.88. The trade was a 1.05% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders sold 41,021 shares of company stock valued at $7,195,257. Insiders own 0.40% of the company’s stock.

Institutional Trading of Phillips 66

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. NFSG Corp raised its stake in shares of Phillips 66 by 105.6% during the first quarter. NFSG Corp now owns 146 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 75 shares during the last quarter. Axiom Investment Management LLC purchased a new position in Phillips 66 during the first quarter worth about $27,000. Accordant Advisory Group Inc raised its holdings in Phillips 66 by 900.0% during the fourth quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 180 shares in the last quarter. SWAN Capital LLC lifted its position in Phillips 66 by 1,055.6% in the fourth quarter. SWAN Capital LLC now owns 208 shares of the oil and gas company’s stock valued at $27,000 after purchasing an additional 190 shares during the period. Finally, Eagle Bay Advisors LLC acquired a new stake in shares of Phillips 66 in the 4th quarter valued at approximately $27,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

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.