Phillips 66 (NYSE:PSX) PT Lowered to $119.00

Phillips 66 (NYSE:PSX – Get Rating) had its price target cut by investment analysts at The Goldman Sachs Group from $124.00 to $119.00 in a research report issued on Friday, The Fly reports. The Goldman Sachs Group’s price target would indicate a potential upside of 27.66% from the stock’s previous close.

Other equities analysts have also recently issued reports about the stock. Raymond James lifted their price objective on shares of Phillips 66 from $130.00 to $135.00 and gave the stock an “outperform” rating in a research report on Friday, January 13th. Wells Fargo & Company reduced their price objective on Phillips 66 from $130.00 to $120.00 in a report on Tuesday, April 18th. Morgan Stanley increased their target price on Phillips 66 from $115.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Friday, January 20th. UBS Group assumed coverage on Phillips 66 in a research note on Wednesday, March 8th. They issued a “buy” rating and a $139.00 price target for the company. Finally, Mizuho reiterated a “neutral” rating and set a $120.00 price objective on shares of Phillips 66 in a research report on Tuesday, April 11th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $122.47.

Phillips 66 Stock Performance

Shares of PSX opened at $93.22 on Friday. The company has a market cap of $42.78 billion, a PE ratio of 3.60, a price-to-earnings-growth ratio of 0.33 and a beta of 1.38. The firm has a 50-day moving average of $98.95 and a 200-day moving average of $102.49. Phillips 66 has a one year low of $74.02 and a one year high of $113.53. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.54 and a quick ratio of 1.17.

Phillips 66 (NYSE:PSX – Get Rating) last announced its quarterly earnings results on Wednesday, May 3rd. The oil and gas company reported $4.21 earnings per share for the quarter, topping analysts’ consensus estimates of $3.58 by $0.63. Phillips 66 had a return on equity of 32.37% and a net margin of 7.13%. The firm had revenue of $35.09 billion for the quarter, compared to the consensus estimate of $29.76 billion. During the same quarter in the previous year, the business earned $1.32 earnings per share. As a group, equities analysts forecast that Phillips 66 will post 15.37 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in Phillips 66 by 1.9% in the 3rd quarter. Vanguard Group Inc. now owns 50,644,106 shares of the oil and gas company’s stock valued at $4,087,993,000 after purchasing an additional 966,125 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Phillips 66 by 0.3% in the 1st quarter. BlackRock Inc. now owns 37,428,804 shares of the oil and gas company’s stock valued at $3,794,532,000 after acquiring an additional 102,139 shares during the last quarter. State Street Corp boosted its holdings in shares of Phillips 66 by 1.1% during the 3rd quarter. State Street Corp now owns 33,013,657 shares of the oil and gas company’s stock valued at $2,664,862,000 after acquiring an additional 345,132 shares in the last quarter. Wells Fargo & Company MN increased its holdings in Phillips 66 by 0.6% in the 4th quarter. Wells Fargo & Company MN now owns 16,802,175 shares of the oil and gas company’s stock worth $1,748,770,000 after purchasing an additional 98,162 shares in the last quarter. Finally, Moneta Group Investment Advisors LLC raised its position in Phillips 66 by 100,843.8% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 9,979,304 shares of the oil and gas company’s stock valued at $1,038,646,000 after purchasing an additional 9,969,418 shares during the last quarter. Institutional investors own 70.76% of the company’s stock.

About Phillips 66

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Phillips 66 engages in the processing, transportation, storage, and marketing of fuels and other related products. The company operates through the following segments: Midstream, Chemicals, Refining and Marketing & Specialties. The Midstream segment provides crude oil and refined products transportation, terminaling and processing services, as well as natural gas, natural gas liquids and liquefied petroleum gas transportation, storage, processing and marketing services.