Phillips 66 (NYSE:PSX) Stock Rating Upgraded by Wall Street Zen

Phillips 66 (NYSE:PSX) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Saturday.

A number of other research firms have also commented on PSX. Raymond James Financial reiterated an “outperform” rating and set a $150.00 price objective (up previously from $145.00) on shares of Phillips 66 in a research note on Friday, October 17th. Evercore ISI raised their price objective on shares of Phillips 66 from $130.00 to $170.00 and gave the company an “outperform” rating in a research note on Friday, September 19th. Wells Fargo & Company raised their price objective on shares of Phillips 66 from $154.00 to $162.00 and gave the company an “overweight” rating in a research note on Thursday. Piper Sandler raised their price objective on shares of Phillips 66 from $155.00 to $159.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, Argus upgraded shares of Phillips 66 to a “strong-buy” rating in a research note on Thursday, July 31st. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $142.94.

Phillips 66 Price Performance

Shares of NYSE:PSX opened at $136.23 on Friday. The firm’s 50 day moving average is $132.67 and its two-hundred day moving average is $123.27. Phillips 66 has a 52 week low of $91.01 and a 52 week high of $142.35. The firm has a market capitalization of $55.05 billion, a P/E ratio of 37.22, a PEG ratio of 1.81 and a beta of 1.11. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.60.

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

Insider Activity at Phillips 66

In other Phillips 66 news, Director Gregory Hayes purchased 8,350 shares of the firm’s stock in a transaction on Thursday, August 14th. The shares were purchased 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 owned 29,423 shares in the company, valued at $3,527,817.70. This represents a 39.62% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the firm’s stock in a transaction that occurred on Friday, September 26th. The stock was sold at an average price of $140.00, for a total transaction of $615,020.00. Following the completion of the transaction, the executive vice president directly owned 34,587 shares of the company’s stock, valued at $4,842,180. This represents a 11.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.22% of the company’s stock.

Hedge Funds Weigh In On Phillips 66

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PSX. Evolution Wealth Management Inc. acquired a new position in Phillips 66 in the 2nd quarter worth approximately $25,000. Wolff Wiese Magana LLC boosted its stake in Phillips 66 by 62.1% in the 2nd quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 82 shares during the period. von Borstel & Associates Inc. acquired a new position in Phillips 66 in the 1st quarter worth approximately $27,000. Olde Wealth Management LLC acquired a new position in Phillips 66 in the 1st quarter worth approximately $28,000. Finally, Pinpoint Asset Management Ltd acquired a new position in Phillips 66 in the 1st quarter worth approximately $29,000. 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.