Phillips 66 (NYSE:PSX) PT Raised to $112.00 at JPMorgan Chase & Co.

Phillips 66 (NYSE:PSXGet Rating) had its price objective raised by equities researchers at JPMorgan Chase & Co. from $102.00 to $112.00 in a research note issued to investors on Tuesday, The Fly reports. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 15.37% from the stock’s current price.

Several other brokerages also recently issued reports on PSX. StockNews.com raised shares of Phillips 66 from a “hold” rating to a “buy” rating in a research note on Thursday, May 5th. Bank of America raised their price objective on shares of Phillips 66 from $97.00 to $104.00 and gave the stock a “buy” rating in a research note on Monday, January 31st. Raymond James raised their target price on shares of Phillips 66 from $100.00 to $104.00 and gave the stock an “outperform” rating in a research report on Monday, January 31st. Wells Fargo & Company raised their target price on shares of Phillips 66 from $103.00 to $114.00 in a research report on Monday, May 2nd. Finally, Royal Bank of Canada raised their target price on shares of Phillips 66 from $97.00 to $101.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 1st. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $98.21.

Shares of NYSE PSX opened at $97.08 on Tuesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.13 and a quick ratio of 0.87. The company has a market cap of $46.71 billion, a P/E ratio of 16.91, a PEG ratio of 0.93 and a beta of 1.40. Phillips 66 has a 1 year low of $63.19 and a 1 year high of $97.98. The firm has a 50-day simple moving average of $85.04 and a two-hundred day simple moving average of $81.48.

Phillips 66 (NYSE:PSXGet Rating) last announced its quarterly earnings data on Friday, April 29th. The oil and gas company reported $1.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.84 by ($0.52). Phillips 66 had a return on equity of 17.07% and a net margin of 1.97%. During the same quarter in the prior year, the company posted ($1.16) earnings per share. As a group, equities research analysts expect that Phillips 66 will post 9.2 EPS for the current year.

A number of hedge funds have recently modified their holdings of PSX. Norges Bank purchased a new position in Phillips 66 during the fourth quarter valued at approximately $276,446,000. BlackRock Inc. increased its holdings in Phillips 66 by 11.0% during the first quarter. BlackRock Inc. now owns 35,037,013 shares of the oil and gas company’s stock valued at $3,026,848,000 after buying an additional 3,462,425 shares during the period. Wellington Management Group LLP increased its holdings in Phillips 66 by 62.1% during the first quarter. Wellington Management Group LLP now owns 7,188,087 shares of the oil and gas company’s stock valued at $620,979,000 after buying an additional 2,753,700 shares during the period. Vanguard Group Inc. grew its holdings in Phillips 66 by 5.9% in the first quarter. Vanguard Group Inc. now owns 45,933,380 shares of the oil and gas company’s stock worth $3,968,184,000 after purchasing an additional 2,547,765 shares during the last quarter. Finally, State Street Corp grew its holdings in Phillips 66 by 7.5% in the first quarter. State Street Corp now owns 31,814,449 shares of the oil and gas company’s stock worth $2,748,450,000 after purchasing an additional 2,206,083 shares during the last quarter. 64.28% of the stock is currently owned by institutional investors.

About Phillips 66 (Get Rating)

Phillips 66 operates as an energy manufacturing and logistics company. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks; delivers refined petroleum products to market; provides terminaling and storage services for crude oil and refined petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.

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