Phillips 66 (NYSE:PSX) PT Lowered to $136.00

Phillips 66 (NYSE:PSX) had its price objective reduced by equities researchers at Piper Sandler from $151.00 to $136.00 in a report released on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the oil and gas company’s stock. Piper Sandler’s price objective suggests a potential upside of 4.64% from the company’s current price.

PSX has been the topic of several other research reports. Wells Fargo & Company raised their target price on Phillips 66 from $176.00 to $182.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 3rd. Scotiabank reduced their price objective on shares of Phillips 66 from $156.00 to $145.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. Barclays increased their target price on shares of Phillips 66 from $136.00 to $138.00 and gave the company an “equal weight” rating in a research report on Monday, August 5th. Raymond James boosted their price target on shares of Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Finally, Argus reaffirmed a “buy” rating and set a $167.00 price objective on shares of Phillips 66 in a report on Thursday, May 30th. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Phillips 66 currently has a consensus rating of “Moderate Buy” and an average price target of $154.21.

Phillips 66 Stock Down 1.9 %

Shares of Phillips 66 stock opened at $129.97 on Friday. The company has a quick ratio of 0.79, a current ratio of 1.14 and a debt-to-equity ratio of 0.56. Phillips 66 has a 52-week low of $107.85 and a 52-week high of $174.08. The company has a market capitalization of $55.10 billion, a P/E ratio of 10.00, a P/E/G ratio of 4.67 and a beta of 1.33. The company has a 50 day moving average of $135.20 and a 200 day moving average of $143.67.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.33. The business 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 16.77%. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same period in the previous year, the company earned $3.87 EPS. As a group, research analysts forecast that Phillips 66 will post 9.1 EPS for the current fiscal year.

Insider Transactions at Phillips 66

In related news, CFO Kevin J. Mitchell sold 30,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $139.01, for a total value of $4,170,300.00. Following the completion of the sale, the chief financial officer now owns 81,937 shares in the company, valued at $11,390,062.37. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.22% of the company’s stock.

Institutional Trading of Phillips 66

Hedge funds have recently modified their holdings of the business. Gryphon Financial Partners LLC boosted its position in shares of Phillips 66 by 11.4% during the 4th quarter. Gryphon Financial Partners LLC now owns 4,166 shares of the oil and gas company’s stock worth $546,000 after purchasing an additional 426 shares in the last quarter. TrinityPoint Wealth LLC grew its position in Phillips 66 by 14.9% during the fourth quarter. TrinityPoint Wealth LLC now owns 5,170 shares of the oil and gas company’s stock worth $688,000 after buying an additional 672 shares during the period. Clearbridge Investments LLC increased its holdings in Phillips 66 by 55.1% in the fourth quarter. Clearbridge Investments LLC now owns 33,625 shares of the oil and gas company’s stock valued at $4,477,000 after buying an additional 11,945 shares in the last quarter. Assetmark Inc. lifted its position in shares of Phillips 66 by 792.6% during the 4th quarter. Assetmark Inc. now owns 1,455 shares of the oil and gas company’s stock valued at $194,000 after acquiring an additional 1,292 shares during the period. Finally, US Bancorp DE boosted its stake in shares of Phillips 66 by 0.4% during the 4th quarter. US Bancorp DE now owns 263,400 shares of the oil and gas company’s stock worth $35,070,000 after acquiring an additional 1,017 shares in the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

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.