Raymond James Trims Phillips 66 (PSX) Target Price to $135.00

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.



Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Friday, October 26th. The oil and gas company reported $3.10 EPS for the quarter, beating the consensus estimate of $2.50 by $0.60. The company had revenue of $30.59 billion during the quarter, compared to analysts’ expectations of $28.50 billion. Phillips 66 had a return on equity of 15.01% and a net margin of 5.72%. During the same quarter in the previous year, the business earned $1.66 EPS. On average, analysts expect that Phillips 66 will post 8.13 EPS for the current year.

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.

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Analyst Recommendations for Phillips 66 (NYSE:PSX)

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