Phillips 66 (NYSE:PSX) PT Lowered to $162.00

Phillips 66 (NYSE:PSX) had its price target dropped by Mizuho from $167.00 to $162.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the oil and gas company’s stock. Mizuho’s price target would suggest a potential downside of 0.30% from the company’s current price.

Several other analysts have also weighed in on PSX. Piper Sandler upped their price objective on Phillips 66 from $169.00 to $187.00 and gave the company an “overweight” rating in a report on Friday, April 5th. Bank of America upped their price objective on Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a report on Friday, March 15th. Raymond James upped their price objective on Phillips 66 from $140.00 to $155.00 and gave the company an “outperform” rating in a report on Thursday, February 1st. Citigroup started coverage on Phillips 66 in a report on Wednesday, January 24th. They issued a “buy” rating for the company. Finally, JPMorgan Chase & Co. upped their target price on Phillips 66 from $149.00 to $167.00 and gave the company an “overweight” rating in a report on Monday, April 1st. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Phillips 66 currently has an average rating of “Moderate Buy” and a consensus price target of $156.86.

Phillips 66 Trading Down 1.8 %

NYSE:PSX opened at $162.49 on Friday. Phillips 66 has a 1 year low of $89.74 and a 1 year high of $174.08. The stock has a market cap of $69.52 billion, a price-to-earnings ratio of 10.50, a PEG ratio of 2.09 and a beta of 1.37. The business has a fifty day moving average of $153.37 and a 200-day moving average of $134.16. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.02 and a current ratio of 1.26.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Wednesday, January 31st. The oil and gas company reported $3.09 earnings per share for the quarter, beating the consensus estimate of $2.37 by $0.72. The business had revenue of $38.74 billion during the quarter, compared to analyst estimates of $34.30 billion. Phillips 66 had a return on equity of 22.10% and a net margin of 4.68%. Equities analysts predict that Phillips 66 will post 13.2 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Robert W. Pease bought 682 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were bought at an average cost of $146.58 per share, with a total value of $99,967.56. Following the transaction, the director now directly owns 1,900 shares in the company, valued at approximately $278,502. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Robert W. Pease bought 682 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were bought at an average cost of $146.58 per share, with a total value of $99,967.56. Following the transaction, the director now directly owns 1,900 shares in the company, valued at approximately $278,502. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Richard G. Harbison sold 21,934 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $146.27, for a total value of $3,208,286.18. Following the completion of the transaction, the executive vice president now directly owns 24,941 shares in the company, valued at $3,648,120.07. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,056 shares of company stock valued at $5,272,681. Corporate insiders own 4.57% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. DekaBank Deutsche Girozentrale increased its holdings in shares of Phillips 66 by 12.4% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 201,592 shares of the oil and gas company’s stock valued at $26,501,000 after acquiring an additional 22,278 shares during the last quarter. Eldred Rock Partners LLC acquired a new position in shares of Phillips 66 during the 4th quarter valued at about $10,402,000. Choate Investment Advisors acquired a new stake in Phillips 66 in the 3rd quarter valued at approximately $247,000. First Dallas Securities Inc. acquired a new stake in Phillips 66 in the 3rd quarter valued at approximately $753,000. Finally, TIAA Trust National Association grew its holdings in Phillips 66 by 32.9% in the 4th quarter. TIAA Trust National Association now owns 14,816 shares of the oil and gas company’s stock valued at $1,973,000 after buying an additional 3,670 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Company Profile

Phillips 66 operates as an energy manufacturing and logistics company in the United States, the United Kingdom, Germany, and internationally. 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.