Phillips 66 (NYSE:PSX) Stock Price Expected to Rise, Evercore ISI Analyst Says

Phillips 66 (NYSE:PSX) had its price objective increased by equities researchers at Evercore ISI from $130.00 to $170.00 in a research report issued on Friday,Benzinga reports. The firm currently has an “outperform” rating on the oil and gas company’s stock. Evercore ISI’s price objective points to a potential upside of 31.39% from the company’s previous close.

PSX has been the subject of several other reports. Jefferies Financial Group lifted their target price on Phillips 66 from $130.00 to $133.00 and gave the stock a “hold” rating in a research report on Monday, September 15th. Wells Fargo & Company lowered their price target on Phillips 66 from $149.00 to $147.00 and set an “overweight” rating for the company in a report on Wednesday, June 11th. Morgan Stanley lifted their price target on Phillips 66 from $122.00 to $128.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 16th. TD Cowen lifted their price target on Phillips 66 from $130.00 to $134.00 and gave the company a “buy” rating in a research report on Monday, July 28th. Finally, Barclays boosted their price objective on Phillips 66 from $115.00 to $127.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $138.94.

Phillips 66 Stock Down 1.5%

Shares of PSX opened at $129.39 on Friday. The stock has a market capitalization of $52.29 billion, a price-to-earnings ratio of 31.10, a price-to-earnings-growth ratio of 1.86 and a beta of 1.15. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $140.60. The business’s 50 day simple moving average is $127.04 and its 200-day simple moving average is $119.78. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.07 and a quick ratio of 0.79.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Friday, July 25th. The oil and gas company reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.59. The business had revenue of $33.77 billion for the quarter, compared to analysts’ expectations of $32.11 billion. Phillips 66 had a return on equity of 4.87% and a net margin of 1.27%.During the same period in the prior year, the firm earned $2.31 EPS. As a group, equities analysts expect that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Sigmund L. Cornelius purchased 500 shares of the business’s stock in a transaction on Thursday, July 31st. The shares were bought at an average price of $123.55 per share, for a total transaction of $61,775.00. Following the acquisition, the director directly owned 21,543 shares in the company, valued at $2,661,637.65. This trade represents a 2.38% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Michael A. Heim bought 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 30th. The stock was purchased at an average cost of $125.97 per share, with a total value of $125,970.00. Following the completion of the transaction, the director owned 12,043 shares in the company, valued at approximately $1,517,056.71. This trade represents a 9.06% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 9,850 shares of company stock worth $1,188,910 in the last quarter. Company insiders own 0.22% of the company’s stock.

Institutional Trading of Phillips 66

Hedge funds have recently modified their holdings of the business. Valeo Financial Advisors LLC increased its position in Phillips 66 by 0.9% during the second quarter. Valeo Financial Advisors LLC now owns 15,159 shares of the oil and gas company’s stock worth $1,809,000 after buying an additional 140 shares in the last quarter. SevenBridge Financial Group LLC boosted its holdings in shares of Phillips 66 by 11.6% during the second quarter. SevenBridge Financial Group LLC now owns 33,719 shares of the oil and gas company’s stock worth $4,048,000 after purchasing an additional 3,495 shares during the last quarter. Osaic Holdings Inc. boosted its holdings in shares of Phillips 66 by 7.8% during the second quarter. Osaic Holdings Inc. now owns 113,076 shares of the oil and gas company’s stock worth $13,510,000 after purchasing an additional 8,195 shares during the last quarter. Evolution Wealth Management Inc. acquired a new stake in shares of Phillips 66 during the second quarter worth $25,000. Finally, Orion Porfolio Solutions LLC boosted its holdings in Phillips 66 by 32.0% in the second quarter. Orion Porfolio Solutions LLC now owns 27,886 shares of the oil and gas company’s stock valued at $3,327,000 after acquiring an additional 6,757 shares during the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

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.