Mizuho Forecasts Strong Price Appreciation for Phillips 66 (NYSE:PSX) Stock

Phillips 66 (NYSE:PSX) had its price target lifted by stock analysts at Mizuho from $145.00 to $150.00 in a report issued on Friday, Marketbeat reports. The brokerage currently has a “neutral” rating on the oil and gas company’s stock. Mizuho’s price objective indicates a potential upside of 6.07% from the company’s current price.

Several other research analysts also recently weighed in on PSX. Cowen reiterated a “buy” rating on shares of Phillips 66 in a research note on Thursday, October 30th. BMO Capital Markets lifted their price objective on shares of Phillips 66 from $152.00 to $160.00 in a research report on Tuesday, November 11th. Wall Street Zen raised shares of Phillips 66 from a “hold” rating to a “buy” rating in a research note on Saturday, November 1st. TD Cowen raised their target price on shares of Phillips 66 from $140.00 to $145.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Finally, Bank of America downgraded shares of Phillips 66 from a “buy” rating to a “neutral” rating and lifted their target price for the company from $144.00 to $147.00 in a report on Wednesday, September 3rd. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and thirteen have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $148.35.

Phillips 66 Trading Down 1.4%

NYSE PSX opened at $141.41 on Friday. 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 firm has a market cap of $56.98 billion, a PE ratio of 38.64, a P/E/G ratio of 0.74 and a beta of 0.92. Phillips 66 has a one year low of $91.01 and a one year high of $144.96. The firm’s fifty day moving average is $135.66 and its two-hundred day moving average is $129.35.

Phillips 66 (NYSE:PSX) last announced its earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.38. The business had revenue of $33.69 billion during the quarter, compared to the consensus estimate of $32.29 billion. Phillips 66 had a net margin of 1.12% and a return on equity of 5.53%. During the same quarter in the prior year, the firm earned $2.04 earnings per share. Analysts expect that Phillips 66 will post 6.8 earnings per share for the current year.

Insider Buying and Selling

In other Phillips 66 news, EVP Brian Mandell sold 25,500 shares of the company’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $140.04, for a total transaction of $3,571,020.00. Following the transaction, the executive vice president directly owned 56,838 shares in the company, valued at approximately $7,959,593.52. This represents a 30.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the stock in a transaction dated Friday, September 26th. The shares were sold at an average price of $140.00, for a total transaction of $615,020.00. Following the completion of the transaction, the executive vice president directly owned 34,587 shares of the company’s stock, valued at approximately $4,842,180. This trade represents a 11.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 86,093 shares of company stock valued at $11,933,256. Corporate insiders own 0.22% of the company’s stock.

Institutional Trading of Phillips 66

Institutional investors have recently bought and sold shares of the company. Brighton Jones LLC increased its holdings in Phillips 66 by 238.5% during the 4th quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company’s stock valued at $1,166,000 after acquiring an additional 7,214 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Phillips 66 by 16.5% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,560 shares of the oil and gas company’s stock worth $563,000 after purchasing an additional 645 shares in the last quarter. Vestmark Advisory Solutions Inc. raised its position in shares of Phillips 66 by 64.5% during the 1st quarter. Vestmark Advisory Solutions Inc. now owns 15,216 shares of the oil and gas company’s stock worth $1,879,000 after purchasing an additional 5,967 shares during the last quarter. Cookson Peirce & Co. Inc. lifted its stake in Phillips 66 by 18.1% in the 1st quarter. Cookson Peirce & Co. Inc. now owns 6,366 shares of the oil and gas company’s stock valued at $786,000 after buying an additional 974 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC grew its holdings in Phillips 66 by 13.4% during the 1st quarter. Kovitz Investment Group Partners LLC now owns 33,927 shares of the oil and gas company’s stock valued at $4,189,000 after buying an additional 4,014 shares during the last quarter. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

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.