Phillips 66 (NYSE:PSX) PT Raised to $135.00 at Raymond James

Phillips 66 (NYSE:PSXGet Rating) had its target price upped by analysts at Raymond James from $130.00 to $135.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the oil and gas company’s stock. Raymond James’ price objective would suggest a potential upside of 31.03% from the stock’s previous close.

A number of other brokerages have also recently issued reports on PSX. Mizuho reaffirmed a “neutral” rating and issued a $121.00 target price (up from $115.00) on shares of Phillips 66 in a report on Tuesday, January 10th. Royal Bank of Canada raised their price objective on shares of Phillips 66 from $119.00 to $131.00 and gave the stock an “outperform” rating in a research note on Thursday, November 10th. Morgan Stanley raised their price objective on shares of Phillips 66 from $105.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Monday, November 7th. Piper Sandler dropped their price objective on shares of Phillips 66 from $155.00 to $137.00 and set an “overweight” rating for the company in a research note on Monday, December 19th. Finally, StockNews.com raised shares of Phillips 66 from a “hold” rating to a “buy” rating in a research note on Tuesday, January 10th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $118.27.

Phillips 66 Price Performance

Shares of NYSE:PSX opened at $103.03 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.30 and a debt-to-equity ratio of 0.50. The company has a market cap of $48.70 billion, a P/E ratio of 4.71, a PEG ratio of 0.41 and a beta of 1.41. Phillips 66 has a 52 week low of $73.85 and a 52 week high of $113.53. The company has a 50-day moving average price of $104.91 and a 200 day moving average price of $94.25.

Phillips 66 (NYSE:PSXGet Rating) last issued its earnings results on Tuesday, November 1st. The oil and gas company reported $6.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.98 by $1.48. Phillips 66 had a net margin of 6.18% and a return on equity of 32.66%. The company had revenue of $48.76 billion during the quarter, compared to analysts’ expectations of $40.68 billion. During the same period last year, the company posted $3.18 earnings per share. Research analysts predict that Phillips 66 will post 19.42 earnings per share for the current year.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, VP Joseph Scott Pruitt sold 3,000 shares of Phillips 66 stock in a transaction on Friday, November 11th. The shares were sold at an average price of $111.86, for a total value of $335,580.00. Following the transaction, the vice president now owns 15,302 shares in the company, valued at approximately $1,711,681.72. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.74% of the stock is owned by company insiders.

Hedge Funds Weigh In On Phillips 66

Hedge funds have recently made changes to their positions in the stock. PFG Advisors boosted its holdings in shares of Phillips 66 by 42.4% in the 3rd quarter. PFG Advisors now owns 5,243 shares of the oil and gas company’s stock valued at $423,000 after purchasing an additional 1,560 shares during the last quarter. Cibc World Market Inc. lifted its holdings in shares of Phillips 66 by 489.5% during the 2nd quarter. Cibc World Market Inc. now owns 42,656 shares of the oil and gas company’s stock valued at $3,497,000 after acquiring an additional 35,420 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Phillips 66 by 24.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 3,771 shares of the oil and gas company’s stock valued at $326,000 after acquiring an additional 738 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Phillips 66 by 1,218.7% during the 3rd quarter. International Assets Investment Management LLC now owns 40,589 shares of the oil and gas company’s stock valued at $245,000 after acquiring an additional 37,511 shares in the last quarter. Finally, Walker Asset Management LLC acquired a new position in shares of Phillips 66 during the 2nd quarter valued at $7,332,000. Institutional investors and hedge funds own 70.76% 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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