Phillips 66 (NYSE:PSX) PT Raised to $115.00 at Morgan Stanley

Phillips 66 (NYSE:PSXGet Rating) had its target price lifted by analysts at Morgan Stanley from $105.00 to $115.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has an “equal weight” rating on the oil and gas company’s stock. Morgan Stanley’s price target suggests a potential upside of 9.41% from the company’s previous close.

Other analysts have also issued research reports about the company. Jefferies Financial Group initiated coverage on Phillips 66 in a research report on Wednesday, October 19th. They set a “hold” rating and a $105.00 price objective on the stock. Wells Fargo & Company increased their price target on Phillips 66 from $123.00 to $134.00 in a research report on Thursday, November 3rd. Cowen lowered their price objective on Phillips 66 to $96.00 in a research report on Tuesday, September 20th. StockNews.com began coverage on shares of Phillips 66 in a report on Wednesday, October 12th. They issued a “buy” rating on the stock. Finally, Wolfe Research cut shares of Phillips 66 from an “outperform” rating to a “peer perform” rating in a report on Wednesday, September 14th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $108.13.

Phillips 66 Stock Performance

Shares of Phillips 66 stock opened at $105.11 on Monday. The stock has a market capitalization of $50.56 billion, a price-to-earnings ratio of 4.81, a price-to-earnings-growth ratio of 0.46 and a beta of 1.44. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.28 and a quick ratio of 1.02. The business has a 50-day moving average of $91.42 and a 200 day moving average of $91.04. Phillips 66 has a 12 month low of $67.08 and a 12 month high of $111.28.

Phillips 66 (NYSE:PSXGet Rating) last posted its quarterly earnings data on Tuesday, November 1st. The oil and gas company reported $6.46 EPS for the quarter, beating the consensus estimate of $4.82 by $1.64. Phillips 66 had a net margin of 3.59% and a return on equity of 36.44%. During the same period last year, the business earned $3.18 earnings per share. As a group, sell-side analysts forecast that Phillips 66 will post 17.65 earnings per share for the current year.

Institutional Trading of Phillips 66

Several institutional investors and hedge funds have recently bought and sold shares of the business. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Phillips 66 during the first quarter worth about $273,000. NewEdge Wealth LLC increased its holdings in shares of Phillips 66 by 30.3% in the first quarter. NewEdge Wealth LLC now owns 4,139 shares of the oil and gas company’s stock valued at $358,000 after purchasing an additional 963 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of Phillips 66 by 24.3% during the first quarter. EverSource Wealth Advisors LLC now owns 3,771 shares of the oil and gas company’s stock worth $326,000 after purchasing an additional 738 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in Phillips 66 by 57.8% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 61,746 shares of the oil and gas company’s stock valued at $5,334,000 after buying an additional 22,612 shares during the period. Finally, Walker Asset Management LLC purchased a new position in Phillips 66 during the 2nd quarter worth $7,332,000. Hedge funds and other institutional investors own 71.42% of the company’s stock.

Phillips 66 Company Profile

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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.

Further Reading

Analyst Recommendations for Phillips 66 (NYSE:PSX)

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