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.
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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