Phillips 66 (NYSE:PSX) Price Target Lowered to $124.00 at Barclays

Phillips 66 (NYSE:PSX) had its target price reduced by equities research analysts at Barclays from $133.00 to $124.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the oil and gas company’s stock. Barclays‘s price objective would suggest a potential downside of 2.88% from the company’s current price.

A number of other equities analysts also recently commented on the company. Mizuho dropped their price objective on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Piper Sandler set a $144.00 price target on shares of Phillips 66 in a research note on Thursday, October 17th. Raymond James lifted their price objective on shares of Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Scotiabank lowered their target price on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Finally, Wells Fargo & Company cut their target price on Phillips 66 from $182.00 to $167.00 and set an “overweight” rating on the stock in a report on Wednesday, October 9th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $149.69.

Phillips 66 Stock Down 0.2 %

PSX stock opened at $127.68 on Monday. The company has a 50 day moving average of $129.87 and a two-hundred day moving average of $136.21. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. Phillips 66 has a 12-month low of $111.90 and a 12-month high of $174.08. The company has a market cap of $52.73 billion, a price-to-earnings ratio of 16.39, a PEG ratio of 4.12 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.41. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The firm had revenue of $36.16 billion during the quarter, compared to analysts’ expectations of $36.31 billion. During the same quarter last year, the firm earned $4.63 earnings per share. The business’s revenue for the quarter was down 10.3% on a year-over-year basis. On average, equities analysts anticipate that Phillips 66 will post 7.68 earnings per share for the current fiscal year.

Insider Transactions at Phillips 66

In related news, CFO Kevin J. Mitchell sold 30,000 shares of the 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 approximately $11,390,062.37. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.22% of the company’s stock.

Institutional Trading of Phillips 66

A number of hedge funds have recently modified their holdings of the company. Daiwa Securities Group Inc. increased its position in shares of Phillips 66 by 13.1% during the third quarter. Daiwa Securities Group Inc. now owns 62,260 shares of the oil and gas company’s stock valued at $8,184,000 after purchasing an additional 7,235 shares during the period. Marco Investment Management LLC boosted its stake in Phillips 66 by 2.4% during the third quarter. Marco Investment Management LLC now owns 77,922 shares of the oil and gas company’s stock worth $10,243,000 after buying an additional 1,802 shares in the last quarter. Summit Trail Advisors LLC increased its holdings in Phillips 66 by 18.0% in the 3rd quarter. Summit Trail Advisors LLC now owns 9,604 shares of the oil and gas company’s stock valued at $1,262,000 after buying an additional 1,464 shares during the period. Cahill Financial Advisors Inc. raised its stake in shares of Phillips 66 by 7.8% in the 3rd quarter. Cahill Financial Advisors Inc. now owns 1,734 shares of the oil and gas company’s stock valued at $228,000 after buying an additional 126 shares in the last quarter. Finally, Alpha DNA Investment Management LLC boosted its position in shares of Phillips 66 by 8.8% during the 3rd quarter. Alpha DNA Investment Management LLC now owns 2,889 shares of the oil and gas company’s stock valued at $380,000 after acquiring an additional 233 shares in the last quarter. Institutional investors 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.