Phillips 66 (NYSE:PSX) PT Raised to $120.00

Phillips 66 (NYSE:PSXGet Rating) had its price target increased by investment analysts at Piper Sandler from $119.00 to $120.00 in a research report issued to clients and investors on Monday, The Fly reports. Piper Sandler’s price objective would indicate a potential upside of 27.95% from the company’s previous close.

Other equities research analysts also recently issued research reports about the stock. Royal Bank of Canada lifted 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. Raymond James lifted their price target on shares of Phillips 66 from $100.00 to $104.00 and gave the stock an “outperform” rating in a research note on Monday, January 31st. TheStreet upgraded shares of Phillips 66 from a “c+” rating to a “b” rating in a research note on Wednesday, February 23rd. JPMorgan Chase & Co. lifted their price target on shares of Phillips 66 from $102.00 to $112.00 in a research note on Tuesday, May 17th. Finally, StockNews.com upgraded shares of Phillips 66 from a “hold” rating to a “buy” rating in a research note on Thursday, May 5th. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $98.29.

NYSE:PSX opened at $93.79 on Monday. The company has a current ratio of 1.13, a quick ratio of 0.87 and a debt-to-equity ratio of 0.59. Phillips 66 has a 12 month low of $63.19 and a 12 month high of $98.66. The company has a market cap of $45.12 billion, a PE ratio of 16.34, a price-to-earnings-growth ratio of 0.92 and a beta of 1.40. The company has a 50 day simple moving average of $86.29 and a two-hundred day simple moving average of $81.97.

Phillips 66 (NYSE:PSXGet Rating) last posted its earnings results on Friday, April 29th. The oil and gas company reported $1.32 EPS for the quarter, missing analysts’ consensus estimates 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. Research analysts forecast that Phillips 66 will post 9.4 earnings per share for the current year.

Hedge funds have recently made changes to their positions in the business. Brinker Capital Investments LLC lifted its stake in Phillips 66 by 30.1% in the 4th quarter. Brinker Capital Investments LLC now owns 36,613 shares of the oil and gas company’s stock worth $2,653,000 after purchasing an additional 8,473 shares in the last quarter. Regentatlantic Capital LLC lifted its stake in Phillips 66 by 0.6% in the 4th quarter. Regentatlantic Capital LLC now owns 37,479 shares of the oil and gas company’s stock worth $2,716,000 after purchasing an additional 230 shares in the last quarter. Bank of Nova Scotia increased its holdings in shares of Phillips 66 by 36.4% in the 3rd quarter. Bank of Nova Scotia now owns 94,063 shares of the oil and gas company’s stock worth $6,587,000 after buying an additional 25,119 shares during the last quarter. Mountain Capital Investment Advisors Inc increased its holdings in shares of Phillips 66 by 128.7% in the 4th quarter. Mountain Capital Investment Advisors Inc now owns 14,213 shares of the oil and gas company’s stock worth $1,224,000 after buying an additional 7,997 shares during the last quarter. Finally, Corient Capital Partners LLC increased its holdings in shares of Phillips 66 by 11.6% in the 3rd quarter. Corient Capital Partners LLC now owns 24,086 shares of the oil and gas company’s stock worth $1,687,000 after buying an additional 2,510 shares during the last quarter. Institutional investors and hedge funds own 64.28% of the company’s stock.

Phillips 66 Company Profile (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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