Phillips 66 (NYSE:PSX) Price Target Raised to $164.00

Phillips 66 (NYSE:PSX) had its target price hoisted by The Goldman Sachs Group from $152.00 to $164.00 in a research note issued to investors on Thursday,MarketScreener reports. The Goldman Sachs Group currently has a neutral rating on the oil and gas company’s stock.

A number of other equities research analysts also recently commented on PSX. BMO Capital Markets increased their price objective on shares of Phillips 66 from $152.00 to $160.00 in a research report on Tuesday, November 11th. Raymond James Financial boosted their target price on shares of Phillips 66 from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note on Friday. UBS Group restated a “buy” rating on shares of Phillips 66 in a research note on Tuesday, January 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Phillips 66 in a report on Thursday. Finally, Citigroup increased their price objective on Phillips 66 from $137.00 to $146.00 and gave the company a “neutral” rating in a report on Wednesday, January 14th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and thirteen have given a Hold rating to the company. According to data from MarketBeat, Phillips 66 has an average rating of “Hold” and an average price target of $153.53.

Phillips 66 Price Performance

PSX stock opened at $141.51 on Thursday. The business’s 50-day moving average is $136.13 and its two-hundred day moving average is $132.44. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.23 and a quick ratio of 0.87. The firm has a market capitalization of $57.02 billion, a P/E ratio of 38.66, a P/E/G ratio of 0.40 and a beta of 0.90. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $146.88.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data 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 business had revenue of $33.69 billion during the quarter, compared to the consensus estimate of $32.29 billion. Phillips 66 had a return on equity of 5.53% and a net margin of 1.12%.During the same period in the previous year, the company posted $2.04 earnings per share. Analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Insider Activity

In other Phillips 66 news, EVP Brian Mandell sold 25,500 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $140.04, for a total value of $3,571,020.00. Following the completion of the sale, the executive vice president owned 56,838 shares in the company, valued at approximately $7,959,593.52. The trade was a 30.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Vanessa Allen Sutherland sold 4,394 shares of the stock in a transaction that occurred on Friday, January 9th. The shares were sold at an average price of $145.00, for a total value of $637,130.00. Following the completion of the sale, the executive vice president directly owned 30,193 shares of the company’s stock, valued at $4,377,985. The trade was a 12.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 86,094 shares of company stock valued at $11,955,366. Insiders own 0.22% of the company’s stock.

Institutional Investors Weigh In On Phillips 66

A number of institutional investors and hedge funds have recently made changes to their positions in PSX. Elliott Investment Management L.P. increased its holdings in shares of Phillips 66 by 22.4% in the 2nd 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 acquiring an additional 3,526,000 shares during the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its holdings in 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 worth $28,523,000 after purchasing an additional 10,000 shares during the period. Vanguard Group Inc. increased its stake in Phillips 66 by 14.8% during the second quarter. Vanguard Group Inc. now owns 46,368,000 shares of the oil and gas company’s stock valued at $5,531,702,000 after purchasing an additional 5,978,841 shares during the last quarter. Edgestream Partners L.P. acquired a new stake in shares of Phillips 66 during the second quarter worth $4,952,000. Finally, Thrivent Financial for Lutherans raised its holdings in shares of Phillips 66 by 81.1% during the second quarter. Thrivent Financial for Lutherans now owns 42,205 shares of the oil and gas company’s stock worth $5,035,000 after purchasing an additional 18,895 shares during the period. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Company Profile

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.