Phillips 66 (NYSE:PSX) PT Raised to $155.00 at Barclays

Phillips 66 (NYSE:PSX) had its price target hoisted by analysts at Barclays from $139.00 to $155.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has an “equal weight” rating on the oil and gas company’s stock. Barclays‘s price objective suggests a potential downside of 1.45% from the stock’s previous close.

PSX has been the subject of several other reports. Citigroup assumed coverage on Phillips 66 in a report on Wednesday, January 24th. They issued a “buy” rating for the company. Scotiabank increased their price objective on Phillips 66 from $148.00 to $156.00 and gave the company a “sector outperform” rating in a report on Thursday, April 11th. Mizuho decreased their price objective on Phillips 66 from $167.00 to $162.00 and set a “neutral” rating for the company in a report on Friday, April 12th. Bank of America increased their price objective on Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a report on Friday, March 15th. Finally, Raymond James increased their price objective on Phillips 66 from $140.00 to $155.00 and gave the company an “outperform” rating in a report on Thursday, February 1st. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $158.00.

Phillips 66 Stock Performance

Shares of Phillips 66 stock opened at $157.28 on Thursday. The firm has a market capitalization of $67.29 billion, a P/E ratio of 10.17, a P/E/G ratio of 1.99 and a beta of 1.37. Phillips 66 has a 52 week low of $89.74 and a 52 week high of $174.08. The company has a quick ratio of 1.02, a current ratio of 1.26 and a debt-to-equity ratio of 0.56. The firm’s 50 day moving average is $154.09 and its two-hundred day moving average is $134.94.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Wednesday, January 31st. The oil and gas company reported $3.09 EPS for the quarter, beating the consensus estimate of $2.37 by $0.72. The company had revenue of $38.74 billion for the quarter, compared to analyst estimates of $34.30 billion. Phillips 66 had a net margin of 4.68% and a return on equity of 22.10%. Research analysts forecast that Phillips 66 will post 13.2 EPS for the current fiscal year.

Insider Activity

In other news, EVP Richard G. Harbison sold 21,934 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $146.27, for a total value of $3,208,286.18. Following the completion of the transaction, the executive vice president now owns 24,941 shares in the company, valued at $3,648,120.07. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, EVP Richard G. Harbison sold 21,934 shares of Phillips 66 stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the completion of the sale, the executive vice president now owns 24,941 shares in the company, valued at approximately $3,648,120.07. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Joseph Scott Pruitt sold 7,200 shares of Phillips 66 stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $157.26, for a total value of $1,132,272.00. Following the sale, the vice president now owns 6,583 shares of the company’s stock, valued at approximately $1,035,242.58. The disclosure for this sale can be found here. Insiders sold a total of 35,056 shares of company stock worth $5,272,681 over the last 90 days. 0.22% of the stock is currently owned by corporate insiders.

Institutional Trading of Phillips 66

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PSX. First Capital Advisors Group LLC. acquired a new stake in Phillips 66 in the 2nd quarter worth about $25,000. Ables Iannone Moore & Associates Inc. acquired a new stake in Phillips 66 in the 4th quarter worth about $27,000. Main Street Group LTD acquired a new stake in Phillips 66 in the 4th quarter worth about $28,000. First United Bank & Trust acquired a new stake in Phillips 66 in the 4th quarter worth about $31,000. Finally, Cornerstone Planning Group LLC boosted its stake in Phillips 66 by 134.8% in the 3rd quarter. Cornerstone Planning Group LLC now owns 263 shares of the oil and gas company’s stock worth $32,000 after buying an additional 151 shares during the last quarter. Hedge funds and other 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.