Phillips 66 (NYSE:PSX) Price Target Raised to $132.00 at Wells Fargo & Co

Phillips 66 (NYSE:PSX) had its target price lifted by analysts at Wells Fargo & Co from $130.00 to $132.00 in a note issued to investors on Wednesday, BenzingaRatingsTable reports. The brokerage presently has an “outperform” rating on the oil and gas company’s stock. Wells Fargo & Co‘s price objective points to a potential upside of 27.43% from the company’s current price.

A number of other brokerages have also commented on PSX. Citigroup raised Phillips 66 from a “neutral” rating to a “buy” rating in a report on Friday, June 21st. JPMorgan Chase & Co. lowered their price target on Phillips 66 from $126.00 to $115.00 and set an “overweight” rating on the stock in a report on Tuesday, September 10th. Raymond James raised their price target on Phillips 66 from $110.00 to $117.00 and gave the company an “outperform” rating in a report on Monday, July 29th. Cowen raised their price target on Phillips 66 from $112.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Finally, Scotiabank began coverage on Phillips 66 in a report on Tuesday, September 3rd. They set an “outperform” rating on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $114.82.

Phillips 66 stock opened at $103.59 on Wednesday. The stock has a market cap of $46.32 billion, a P/E ratio of 8.85, a price-to-earnings-growth ratio of 2.10 and a beta of 1.08. The company has a current ratio of 1.28, a quick ratio of 0.82 and a debt-to-equity ratio of 0.39. The stock has a 50 day moving average of $99.84 and a 200-day moving average of $94.93. Phillips 66 has a 52 week low of $78.44 and a 52 week high of $119.14.

Phillips 66 (NYSE:PSX) last released its earnings results on Friday, July 26th. The oil and gas company reported $3.02 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.70 by $0.32. The company had revenue of $28.52 billion during the quarter, compared to analysts’ expectations of $29.89 billion. Phillips 66 had a return on equity of 19.75% and a net margin of 4.76%. During the same period in the prior year, the business posted $2.80 EPS. As a group, equities analysts predict that Phillips 66 will post 7.55 earnings per share for the current fiscal year.

In other news, EVP Robert A. Herman sold 47,433 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $103.17, for a total transaction of $4,893,662.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.13% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of PSX. Advisors Preferred LLC bought a new position in Phillips 66 in the 2nd quarter worth approximately $25,000. TRUE Private Wealth Advisors bought a new position in Phillips 66 in the 2nd quarter worth approximately $26,000. Manchester Financial Inc. bought a new position in Phillips 66 in the 2nd quarter worth approximately $32,000. Coastal Capital Group Inc. bought a new position in Phillips 66 in the 2nd quarter worth approximately $37,000. Finally, TCG Advisors LP bought a new position in Phillips 66 in the 1st quarter worth approximately $38,000. 68.71% of the stock is currently owned by institutional investors.

About Phillips 66

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; provides terminaling and storage services for crude oil and petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; 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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