Piper Sandler Increases Phillips 66 (NYSE:PSX) Price Target to $177.00

Phillips 66 (NYSE:PSX) had its price objective boosted by equities research analysts at Piper Sandler from $168.00 to $177.00 in a research report issued on Wednesday, Marketbeat reports. The firm currently has a “neutral” rating on the oil and gas company’s stock. Piper Sandler’s price target suggests a potential upside of 10.04% from the company’s previous close.

A number of other analysts also recently weighed in on PSX. Wolfe Research increased their price target on shares of Phillips 66 from $187.00 to $193.00 and gave the company an “outperform” rating in a research report on Monday. Barclays increased their price target on shares of Phillips 66 from $158.00 to $177.00 and gave the company an “equal weight” rating in a research report on Wednesday. Argus increased their price target on shares of Phillips 66 from $152.00 to $185.00 and gave the company a “buy” rating in a research report on Tuesday, February 10th. Mizuho increased their price target on shares of Phillips 66 from $152.00 to $170.00 and gave the company a “neutral” rating in a research report on Tuesday, March 17th. Finally, Jefferies Financial Group upgraded shares of Phillips 66 from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 16th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat.com, Phillips 66 has a consensus rating of “Moderate Buy” and an average target price of $180.39.

Phillips 66 Stock Performance

Shares of NYSE:PSX opened at $160.85 on Wednesday. The company has a market capitalization of $64.46 billion, a price-to-earnings ratio of 14.87, a P/E/G ratio of 0.29 and a beta of 0.76. The firm’s 50 day simple moving average is $165.35 and its 200 day simple moving average is $146.00. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.30 and a quick ratio of 0.91. Phillips 66 has a fifty-two week low of $93.50 and a fifty-two week high of $190.61.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.32. The business had revenue of $32.16 billion for the quarter, compared to the consensus estimate of $33.81 billion. Phillips 66 had a net margin of 3.22% and a return on equity of 9.13%. During the same period last year, the company posted ($0.15) EPS. As a group, sell-side analysts forecast that Phillips 66 will post 6.8 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Brian Mandell sold 42,800 shares of Phillips 66 stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $169.53, for a total value of $7,255,884.00. Following the sale, the executive vice president directly owned 61,595 shares in the company, valued at $10,442,200.35. This trade represents a 41.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kevin Omar Meyers acquired 175 shares of the stock in a transaction dated Tuesday, March 17th. The stock was acquired at an average price of $173.20 per share, for a total transaction of $30,310.00. Following the completion of the acquisition, the director directly owned 16,624 shares of the company’s stock, valued at $2,879,276.80. The trade was a 1.06% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold 95,923 shares of company stock valued at $16,399,619 over the last ninety days. Insiders own 0.22% of the company’s stock.

Institutional Trading of Phillips 66

A number of hedge funds and other institutional investors have recently made changes to their positions in PSX. Elliott Investment Management L.P. grew its stake in shares of Phillips 66 by 22.4% in the second quarter. Elliott Investment Management L.P. now owns 19,251,000 shares of the oil and gas company’s stock valued at $2,296,644,000 after buying an additional 3,526,000 shares in the last quarter. Oppenheimer & Co. Inc. grew its stake in shares of Phillips 66 by 57.4% in the third quarter. Oppenheimer & Co. Inc. now owns 56,858 shares of the oil and gas company’s stock valued at $7,734,000 after buying an additional 20,742 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its stake in shares of Phillips 66 by 5.0% in the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 209,700 shares of the oil and gas company’s stock valued at $28,523,000 after buying an additional 10,000 shares in the last quarter. TD Asset Management Inc grew its stake in shares of Phillips 66 by 15.5% in the third quarter. TD Asset Management Inc now owns 174,413 shares of the oil and gas company’s stock valued at $23,724,000 after buying an additional 23,364 shares in the last quarter. Finally, First National Bank of Omaha bought a new position in shares of Phillips 66 in the third quarter valued at $2,357,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 News Roundup

Here are the key news stories impacting Phillips 66 this week:

• Positive Sentiment: Analysts lifted targets and/or kept positive ratings — big firms raised their 12-month targets (JPMorgan to $188/overweight, BMO to $195/outperform, Citi to $183/neutral and others), signaling continued confidence in PSX’s earnings power and downstream margins. This analyst momentum is providing support despite stock weakness. JPMorgan Adjusts Price Target on Phillips 66
• Positive Sentiment: Refining margins remain very strong: Benzinga notes the crack spread held above $41/bbl even as WTI dipped on ceasefire optimism, meaning refiners including Phillips 66 are still running “war-era” margins that should boost near-term refining profits heading into earnings season (reports Apr 29–May 5). Crude Fell, The Crack Spread Didn’t: 6 Refiner Stocks To Watch This Earnings Season
• Neutral Sentiment: Strategic/valuation commentary — some analysts and writes note Phillips 66’s strong execution but caution the stock may have run up (valuation risks). That frames upside as more dependent on upcoming results and margin sustainability. Phillips 66: Strong Execution, But The Stock Got There First
• Neutral Sentiment: Broader energy/transportation noise — Delta’s earnings highlight a spike in jet-fuel costs and supply disruptions tied to the Middle East; this is a mixed signal for PSX: higher product prices can lift refining margins but also add volatility and risk of demand responses. Delta’s Double Miss Is a Warning for Airline Stocks
• Negative Sentiment: Phillips 66 flagged about $900 million in derivatives losses tied to net-short commodity positions as oil and diesel spiked — an immediate earnings and cash-flow headwind that likely pressured the stock today. Investors will watch management’s commentary on hedging and how this impacts reported Q2 results. Phillips 66 Flags $900 Million Derivatives Loss As Oil Surges 68%

About Phillips 66

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.