Phillips 66 (NYSE:PSX) Raised to “Buy” at 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 report issued on Saturday.

Other equities research analysts have also recently issued reports about the stock. Mizuho upped their price target on shares of Phillips 66 from $150.00 to $152.00 and gave the company a “neutral” rating in a report on Monday, January 12th. UBS Group reissued a “buy” rating and set a $172.00 price objective on shares of Phillips 66 in a research report on Friday, February 6th. Morgan Stanley raised their target price on Phillips 66 from $140.00 to $147.00 and gave the company an “equal weight” rating in a report on Thursday, February 5th. JPMorgan Chase & Co. dropped their price target on Phillips 66 from $154.00 to $151.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 13th. Finally, The Goldman Sachs Group increased their price objective on Phillips 66 from $152.00 to $164.00 and gave the company a “neutral” rating in a research report on Thursday, January 22nd. Eleven equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $160.11.

Phillips 66 Trading Up 1.0%

Shares of PSX stock opened at $153.91 on Friday. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $163.79. The company has a quick ratio of 0.87, a current ratio of 1.30 and a debt-to-equity ratio of 0.62. The business’s 50 day moving average is $144.05 and its two-hundred day moving average is $137.15. The company has a market cap of $61.68 billion, a PE ratio of 14.22, a price-to-earnings-growth ratio of 0.53 and a beta of 0.90.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Wednesday, February 4th. The oil and gas company reported $2.47 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.32. The business had revenue of $32.16 billion during the quarter, compared to analysts’ expectations 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 in the previous year, the company earned ($0.15) earnings per share. Equities analysts predict that Phillips 66 will post 6.8 EPS for the current year.

Insider Activity at Phillips 66

In other news, EVP Vanessa Allen Sutherland sold 4,394 shares of the business’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $150.00, for a total value of $659,100.00. Following the sale, the executive vice president owned 25,799 shares in the company, valued at approximately $3,869,850. The trade was a 14.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Brian Mandell sold 25,500 shares of the company’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $140.04, for a total transaction of $3,571,020.00. Following the completion of the sale, the executive vice president directly owned 56,838 shares in the company, valued at approximately $7,959,593.52. The trade was a 30.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 41,788 shares of company stock valued at $6,067,250 in the last 90 days. 0.22% of the stock is owned by corporate insiders.

Institutional Trading of Phillips 66

Several large investors have recently added to or reduced their stakes in PSX. Elliott Investment Management L.P. increased its position in shares of Phillips 66 by 22.4% during the second quarter. Elliott Investment Management L.P. now owns 19,251,000 shares of the oil and gas company’s stock worth $2,296,644,000 after acquiring an additional 3,526,000 shares in the last quarter. Oppenheimer & Co. Inc. lifted its holdings 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 purchasing an additional 20,742 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its position in shares of Phillips 66 by 5.0% during 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 buying an additional 10,000 shares during the period. Vanguard Group Inc. boosted its position in shares of 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 worth $5,531,702,000 after buying an additional 5,978,841 shares during the period. Finally, California Public Employees Retirement System grew its holdings in shares of Phillips 66 by 3.9% during the second quarter. California Public Employees Retirement System now owns 696,577 shares of the oil and gas company’s stock worth $83,102,000 after buying an additional 26,238 shares in the last quarter. 76.93% of the stock is owned by 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.