Phillips 66 (NYSE:PSX) Stock Price Expected to Rise, Raymond James Financial Analyst Says

Phillips 66 (NYSE:PSX) had its target price lifted by equities researchers at Raymond James Financial from $160.00 to $175.00 in a research report issued to clients and investors on Friday,MarketScreener reports. The brokerage currently has an “outperform” rating on the oil and gas company’s stock. Raymond James Financial’s price objective would suggest a potential upside of 23.67% from the stock’s current price.

A number of other equities research analysts have also issued reports on the stock. Wall Street Zen lowered shares of Phillips 66 from a “buy” rating to a “hold” rating in a research note on Saturday, December 20th. TD Cowen reiterated a “buy” rating on shares of Phillips 66 in a report on Thursday, October 30th. Jefferies Financial Group lifted their price objective on Phillips 66 from $133.00 to $137.00 and gave the company a “hold” rating in a research report on Friday, October 10th. Citigroup boosted their target price on Phillips 66 from $137.00 to $146.00 and gave the company a “neutral” rating in a research note on Wednesday, January 14th. Finally, Zacks Research lowered Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 16th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and thirteen have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $153.53.

Phillips 66 Price Performance

NYSE PSX opened at $141.51 on Friday. The company has a 50 day simple moving average of $136.13 and a 200-day simple moving average of $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 price-to-earnings ratio of 38.66, a price-to-earnings-growth ratio of 0.40 and a beta of 0.90. Phillips 66 has a 52-week low of $91.01 and a 52-week high of $146.88.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 EPS for the quarter, topping the consensus estimate of $2.14 by $0.38. Phillips 66 had a net margin of 1.12% and a return on equity of 5.53%. The business had revenue of $33.69 billion during the quarter, compared to analysts’ expectations of $32.29 billion. During the same period last year, the company posted $2.04 earnings per share. Equities research analysts predict that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $138.00, for a total transaction of $4,140,000.00. Following the transaction, the chief financial officer owned 89,771 shares of the company’s stock, valued at approximately $12,388,398. This represents a 25.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Brian Mandell sold 26,200 shares of the business’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $137.68, for a total value of $3,607,216.00. Following the completion of the sale, the executive vice president owned 56,838 shares of the company’s stock, valued at approximately $7,825,455.84. This trade represents a 31.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 86,094 shares of company stock valued at $11,955,366 over the last three months. 0.22% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Phillips 66

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PSX. Evolution Wealth Management Inc. acquired a new stake in shares of Phillips 66 in the second quarter worth $25,000. Wolff Wiese Magana LLC grew 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 valued at $26,000 after buying an additional 82 shares during the last quarter. Board of the Pension Protection Fund bought a new position in Phillips 66 in the 4th quarter worth $26,000. Accordant Advisory Group Inc raised its holdings in Phillips 66 by 900.0% in the 4th quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 180 shares during the period. Finally, Eagle Bay Advisors LLC acquired a new position in Phillips 66 during the 4th quarter worth $27,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

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.