Phillips 66 (NYSE:PSX) had its price objective reduced by research analysts at Raymond James from $139.00 to $135.00 in a research note issued on Monday. The brokerage presently has an “outperform” rating on the oil and gas company’s stock. Raymond James’ target price would suggest a potential upside of 32.28% from the stock’s current price.
Other analysts have also recently issued research reports about the company. Citigroup lifted their price target on Phillips 66 from $126.00 to $130.00 and gave the company a “neutral” rating in a report on Friday, September 7th. Mizuho assumed coverage on Phillips 66 in a report on Wednesday, August 1st. They issued a “neutral” rating and a $124.00 price target for the company. ValuEngine cut Phillips 66 from a “buy” rating to a “hold” rating in a report on Friday, August 17th. Zacks Investment Research cut Phillips 66 from a “buy” rating to a “hold” rating in a report on Friday, August 24th. Finally, Jefferies Financial Group upgraded Phillips 66 from an “underperform” rating to a “hold” rating and set a $108.00 price target for the company in a report on Tuesday, October 16th. Twelve analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $121.79.
Shares of PSX stock opened at $102.06 on Monday. Phillips 66 has a twelve month low of $89.14 and a twelve month high of $123.97. The stock has a market capitalization of $46.17 billion, a P/E ratio of 23.30, a PEG ratio of 1.44 and a beta of 1.01. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.24 and a quick ratio of 0.82.
Large investors have recently modified their holdings of the company. Sei Investments Co. grew its holdings in shares of Phillips 66 by 14.7% during the 2nd quarter. Sei Investments Co. now owns 152,841 shares of the oil and gas company’s stock worth $17,166,000 after purchasing an additional 19,537 shares during the period. First Republic Investment Management Inc. grew its holdings in shares of Phillips 66 by 17.3% during the 2nd quarter. First Republic Investment Management Inc. now owns 130,687 shares of the oil and gas company’s stock worth $14,678,000 after purchasing an additional 19,279 shares during the period. IFM Investors Pty Ltd grew its holdings in shares of Phillips 66 by 16.4% during the 3rd quarter. IFM Investors Pty Ltd now owns 23,215 shares of the oil and gas company’s stock worth $2,617,000 after purchasing an additional 3,268 shares during the period. Bank of Nova Scotia grew its holdings in shares of Phillips 66 by 145.4% during the 2nd quarter. Bank of Nova Scotia now owns 299,701 shares of the oil and gas company’s stock worth $33,659,000 after purchasing an additional 177,556 shares during the period. Finally, Northern Trust Corp grew its holdings in shares of Phillips 66 by 4.2% during the 2nd quarter. Northern Trust Corp now owns 5,506,365 shares of the oil and gas company’s stock worth $618,420,000 after purchasing an additional 221,487 shares during the period. Institutional investors and hedge funds own 69.67% of the company’s stock.
Phillips 66 Company Profile
Phillips 66 operates as an energy manufacturing and logistics company. 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 products to market, and provides terminaling and storage services for crude oil and petroleum products; transports, stores, fractionates, and markets natural gas liquids, exports LPG, and provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.
Further Reading: Stock Symbols and CUSIP Explained
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