Phillips 66 (NYSE:PSX) Stock Price Expected to Rise, TD Cowen Analyst Says

Phillips 66 (NYSE:PSX) had its price target upped by equities research analysts at TD Cowen from $140.00 to $145.00 in a research report issued to clients and investors on Thursday, MarketBeat.com reports. The brokerage currently has a “buy” rating on the oil and gas company’s stock. TD Cowen’s price target indicates a potential upside of 6.44% from the stock’s current price.

A number of other analysts also recently commented on PSX. Wells Fargo & Company initiated coverage on Phillips 66 in a research report on Friday, October 17th. They set an “overweight” rating and a $154.00 target price on the stock. Citigroup downgraded Phillips 66 from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $126.00 to $130.00 in a research report on Wednesday, July 16th. Zacks Research upgraded Phillips 66 from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 26th. Barclays boosted their target price on Phillips 66 from $127.00 to $132.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 7th. Finally, Mizuho boosted their target price on Phillips 66 from $140.00 to $142.00 and gave the stock a “neutral” rating in a research report on Monday, September 15th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat.com, Phillips 66 has a consensus rating of “Moderate Buy” and a consensus price target of $142.94.

Phillips 66 Stock Down 0.6%

PSX opened at $136.23 on Thursday. The business’s fifty day moving average is $132.67 and its two-hundred day moving average is $123.27. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.79 and a current ratio of 1.07. The company has a market cap of $55.05 billion, a price-to-earnings ratio of 37.22, a PEG ratio of 1.81 and a beta of 1.11. Phillips 66 has a one year low of $91.01 and a one year high of $142.35.

Phillips 66 (NYSE:PSX) last posted its earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 EPS for the quarter, topping analysts’ consensus estimates of $2.14 by $0.38. The company had revenue of $33.69 billion for the quarter, compared to the consensus estimate of $32.29 billion. Phillips 66 had a return on equity of 5.51% and a net margin of 1.12%.During the same period in the previous year, the business earned $2.04 earnings per share. Analysts anticipate that Phillips 66 will post 6.8 EPS for the current fiscal year.

Insider Buying and Selling at Phillips 66

In related news, EVP Vanessa Allen Sutherland sold 4,393 shares of the stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $140.00, for a total transaction of $615,020.00. Following the transaction, the executive vice president directly owned 34,587 shares in the company, valued at approximately $4,842,180. This represents a 11.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Gregory Hayes bought 8,350 shares of Phillips 66 stock in a transaction that occurred on Thursday, August 14th. The shares were acquired at an average price of $119.90 per share, for a total transaction of $1,001,165.00. Following the completion of the transaction, the director directly owned 29,423 shares of the company’s stock, valued at $3,527,817.70. This trade represents a 39.62% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 0.22% of the company’s stock.

Hedge Funds Weigh In On Phillips 66

Several large investors have recently added to or reduced their stakes in PSX. Elliott Investment Management L.P. boosted its position in shares of Phillips 66 by 1,929.0% in the first quarter. Elliott Investment Management L.P. now owns 15,725,000 shares of the oil and gas company’s stock worth $1,941,723,000 after buying an additional 14,950,000 shares during the period. Chronos Wealth Management LLC purchased a new stake in shares of Phillips 66 in the second quarter worth about $281,000. Sustainable Insight Capital Management LLC purchased a new stake in shares of Phillips 66 in the first quarter worth about $1,457,000. Evergreen Wealth Solutions LLC purchased a new stake in shares of Phillips 66 in the first quarter worth about $292,000. Finally, Concurrent Investment Advisors LLC boosted its position in shares of Phillips 66 by 45.3% in the first quarter. Concurrent Investment Advisors LLC now owns 30,055 shares of the oil and gas company’s stock worth $3,711,000 after buying an additional 9,376 shares during the period. 76.93% of the stock is currently 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.