TD Cowen Increases Phillips 66 (NYSE:PSX) Price Target to $162.00

Phillips 66 (NYSE:PSX) had its price target increased by TD Cowen from $155.00 to $162.00 in a research report issued to clients and investors on Wednesday, Marketbeat.com reports. The firm presently has a “buy” rating on the oil and gas company’s stock. TD Cowen’s price target would indicate a potential upside of 14.96% from the company’s current price.

Other equities analysts have also recently issued reports about the stock. Barclays decreased their price objective on shares of Phillips 66 from $142.00 to $136.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 9th. Scotiabank reduced their price target on shares of Phillips 66 from $156.00 to $145.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. Piper Sandler reduced their price target on shares of Phillips 66 from $170.00 to $151.00 and set an “overweight” rating on the stock in a research report on Friday, June 14th. Wolfe Research started coverage on shares of Phillips 66 in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Finally, JPMorgan Chase & Co. reduced their price target on shares of Phillips 66 from $165.00 to $162.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 2nd. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $157.23.

Phillips 66 Stock Down 3.1 %

Shares of NYSE PSX opened at $140.92 on Wednesday. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.58. The stock has a fifty day moving average price of $139.15 and a 200 day moving average price of $145.72. The company has a market cap of $59.74 billion, a P/E ratio of 10.84, a P/E/G ratio of 2.58 and a beta of 1.34. Phillips 66 has a 12-month low of $107.41 and a 12-month high of $174.08.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.33. The company had revenue of $38.91 billion during the quarter, compared to analysts’ expectations of $37.79 billion. Phillips 66 had a net margin of 3.32% and a return on equity of 16.64%. The firm’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same period in the prior year, the company posted $3.87 EPS. Research analysts anticipate that Phillips 66 will post 9.4 EPS for the current fiscal year.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, EVP Timothy D. Roberts sold 37,742 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $145.80, for a total value of $5,502,783.60. Following the sale, the executive vice president now owns 48,365 shares in the company, valued at $7,051,617. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.22% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PSX. Crewe Advisors LLC bought a new stake in Phillips 66 during the first quarter worth approximately $25,000. Keener Financial Planning LLC bought a new stake in Phillips 66 during the first quarter worth approximately $26,000. Ables Iannone Moore & Associates Inc. bought a new stake in Phillips 66 during the fourth quarter worth approximately $27,000. Redmont Wealth Advisors LLC bought a new stake in Phillips 66 during the first quarter worth approximately $28,000. Finally, First United Bank & Trust bought a new stake in Phillips 66 during the fourth quarter worth approximately $31,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

About Phillips 66

Phillips 66 operates as an energy manufacturing and logistics company in the United States, the United Kingdom, Germany, and internationally. 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 petroleum products to market; provides terminaling and storage services for crude oil and refined 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.