Scotiabank Issues Pessimistic Forecast for Phillips 66 (NYSE:PSX) Stock Price

Phillips 66 (NYSE:PSX) had its price objective decreased by investment analysts at Scotiabank from $136.00 to $133.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “sector outperform” rating on the oil and gas company’s stock. Scotiabank’s price objective indicates a potential upside of 36.79% from the company’s previous close.

PSX has been the topic of several other research reports. Wolfe Research upgraded shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target on the stock in a research note on Friday, January 3rd. Raymond James dropped their price target on Phillips 66 from $150.00 to $140.00 and set an “outperform” rating for the company in a research note on Wednesday. Wells Fargo & Company upped their price objective on Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. StockNews.com lowered shares of Phillips 66 from a “hold” rating to a “sell” rating in a report on Sunday, March 2nd. Finally, Mizuho decreased their price target 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 investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $142.00.

Phillips 66 Price Performance

Shares of Phillips 66 stock opened at $97.23 on Friday. The company has a market capitalization of $39.64 billion, a price-to-earnings ratio of 19.68, a PEG ratio of 4.84 and a beta of 1.17. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The stock’s 50-day simple moving average is $120.96 and its 200-day simple moving average is $123.55. Phillips 66 has a 52 week low of $91.01 and a 52 week high of $166.47.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share (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 quarter in the previous year, the business earned $3.09 EPS. As a group, analysts expect that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Phillips 66

A number of institutional investors and hedge funds have recently modified their holdings of PSX. Oppenheimer & Co. Inc. lifted its position in shares of Phillips 66 by 10.6% during the fourth quarter. Oppenheimer & Co. Inc. now owns 46,953 shares of the oil and gas company’s stock worth $5,349,000 after purchasing an additional 4,515 shares during the last quarter. Flavin Financial Services Inc. purchased a new stake in Phillips 66 in the 4th quarter valued at about $1,190,000. Everence Capital Management Inc. bought a new position in Phillips 66 in the 4th quarter worth about $3,033,000. Donoghue Forlines LLC purchased a new position in shares of Phillips 66 during the fourth quarter worth approximately $1,438,000. Finally, Smith Group Asset Management LLC bought a new stake in shares of Phillips 66 during the fourth quarter valued at approximately $1,149,000. 76.93% of the stock is owned by institutional investors.

About Phillips 66

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.