Phillips 66 (NYSE:PSX) Stock Price Expected to Rise, Wolfe Research Analyst Says

Phillips 66 (NYSE:PSX) had its price objective lifted by Wolfe Research from $158.00 to $160.00 in a research note issued to investors on Friday,MarketScreener reports. The firm presently has an “outperform” rating on the oil and gas company’s stock. Wolfe Research’s price objective indicates a potential upside of 14.71% from the stock’s previous close.

Other analysts have also recently issued research reports about the company. Morgan Stanley increased their price objective on shares of Phillips 66 from $128.00 to $140.00 and gave the company an “equal weight” rating in a research report on Friday, October 3rd. Wall Street Zen raised shares of Phillips 66 from a “hold” rating to a “buy” rating in a report on Saturday, November 1st. Barclays boosted their price objective on shares of Phillips 66 from $132.00 to $141.00 and gave the company an “equal weight” rating in a report on Monday, November 17th. Mizuho raised their target price on Phillips 66 from $140.00 to $142.00 and gave the stock a “neutral” rating in a research note on Monday, September 15th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Phillips 66 in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and thirteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Phillips 66 presently has an average rating of “Hold” and an average target price of $147.88.

Phillips 66 Stock Up 0.0%

Phillips 66 stock traded up $0.06 during midday trading on Friday, hitting $139.48. 2,345,960 shares of the company’s stock were exchanged, compared to its average volume of 2,068,824. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.87 and a current ratio of 1.23. The company has a market cap of $56.20 billion, a PE ratio of 38.11, a P/E/G ratio of 0.73 and a beta of 0.92. The firm has a 50-day moving average of $135.05 and a two-hundred day moving average of $128.36. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $143.25.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 EPS for the quarter, topping the consensus estimate of $2.14 by $0.38. Phillips 66 had a return on equity of 5.53% and a net margin of 1.12%.The firm had revenue of $33.69 billion during the quarter, compared to analyst estimates of $32.29 billion. During the same period in the previous year, the company posted $2.04 EPS. As a group, analysts expect that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the stock in a transaction on Friday, November 7th. The shares were sold at an average price of $138.00, for a total transaction of $4,140,000.00. Following the transaction, the chief financial officer directly owned 89,771 shares of the company’s stock, valued at $12,388,398. This trade represents a 25.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Brian Mandell sold 26,200 shares of the company’s stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $137.68, for a total transaction of $3,607,216.00. Following the transaction, the executive vice president owned 56,838 shares of the company’s stock, valued at approximately $7,825,455.84. This trade represents a 31.55% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 90,486 shares of company stock valued at $12,526,311. 0.22% of the stock is owned by company insiders.

Institutional Investors Weigh In On Phillips 66

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Evolution Wealth Management Inc. purchased a new stake in shares of Phillips 66 in the second quarter valued at approximately $25,000. Wolff Wiese Magana LLC grew its holdings in Phillips 66 by 62.1% in the 2nd quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock valued at $26,000 after buying an additional 82 shares in the last quarter. Winnow Wealth LLC purchased a new stake in Phillips 66 in the 3rd quarter valued at $36,000. Wealth Watch Advisors INC acquired a new stake in shares of Phillips 66 in the 3rd quarter worth $36,000. Finally, Pinpoint Asset Management Singapore Pte. Ltd. purchased a new position in shares of Phillips 66 during the 2nd quarter worth $32,000. 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.