Raymond James Has Lowered Expectations for Phillips 66 (NYSE:PSX) Stock Price

Phillips 66 (NYSE:PSX) had its price objective dropped by stock analysts at Raymond James from $150.00 to $140.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the oil and gas company’s stock. Raymond James’ target price suggests a potential upside of 44.92% from the stock’s previous close.

Several other research analysts also recently commented on the company. Barclays raised their target price on Phillips 66 from $115.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Friday, March 14th. The Goldman Sachs Group cut Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 target price on the stock. in a research note on Thursday, March 27th. Wells Fargo & Company increased their price target on shares of Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. StockNews.com downgraded Phillips 66 from a “hold” rating to a “sell” rating in a report on Sunday, March 2nd. Finally, Mizuho decreased their target price on shares of Phillips 66 from $140.00 to $132.00 and set a “neutral” rating on the stock in a research note on Wednesday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Phillips 66 presently has an average rating of “Moderate Buy” and a consensus target price of $142.21.

Phillips 66 Price Performance

Shares of NYSE:PSX opened at $96.61 on Wednesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. The company has a market capitalization of $39.39 billion, a P/E ratio of 19.56, a price-to-earnings-growth ratio of 4.84 and a beta of 1.17. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $166.47. The company’s 50-day moving average is $121.48 and its 200 day moving average is $123.78.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Friday, January 31st. The oil and gas company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($1.38). Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same period in the previous year, the firm posted $3.09 EPS. On average, equities research analysts forecast that Phillips 66 will post 6.8 earnings per share for the current year.

Institutional Trading of Phillips 66

Institutional investors have recently bought and sold shares of the company. Morse Asset Management Inc bought a new position in Phillips 66 in the 3rd quarter valued at approximately $493,000. Nomura Asset Management Co. Ltd. boosted its holdings in Phillips 66 by 3.3% in the third quarter. Nomura Asset Management Co. Ltd. now owns 132,205 shares of the oil and gas company’s stock worth $17,378,000 after purchasing an additional 4,211 shares during the last quarter. Neo Ivy Capital Management purchased a new stake in Phillips 66 during the 3rd quarter valued at $638,000. Sunbelt Securities Inc. increased its position in Phillips 66 by 41.0% during the third quarter. Sunbelt Securities Inc. now owns 4,027 shares of the oil and gas company’s stock valued at $529,000 after acquiring an additional 1,171 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky lifted its holdings in Phillips 66 by 35.5% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 351,186 shares of the oil and gas company’s stock valued at $46,163,000 after acquiring an additional 91,918 shares during the period. 76.93% of the stock is owned by hedge funds and other institutional investors.

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.