Raymond James Financial Lowers Phillips 66 (NYSE:PSX) Price Target to $160.00

Phillips 66 (NYSE:PSX) had its target price cut by Raymond James Financial from $169.00 to $160.00 in a note issued to investors on Monday,MarketScreener reports. The brokerage presently has an “outperform” rating on the oil and gas company’s stock. Raymond James Financial’s price objective suggests a potential upside of 24.60% from the company’s current price.

A number of other equities research analysts have also recently issued reports on PSX. UBS Group reiterated a “buy” rating and issued a $160.00 price objective on shares of Phillips 66 in a report on Monday, November 10th. Wells Fargo & Company boosted their target price on shares of Phillips 66 from $154.00 to $162.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Phillips 66 in a research note on Wednesday, October 8th. Jefferies Financial Group increased their target price on Phillips 66 from $133.00 to $137.00 and gave the company a “hold” rating in a research note on Friday, October 10th. Finally, TD Cowen boosted their target price on Phillips 66 from $140.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and twelve have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $147.82.

Phillips 66 Trading Down 0.5%

NYSE:PSX opened at $128.41 on Monday. The company has a market cap of $51.74 billion, a PE ratio of 35.08, a price-to-earnings-growth ratio of 0.68 and a beta of 0.92. The company has a current ratio of 1.23, a quick ratio of 0.87 and a debt-to-equity ratio of 0.68. The company has a 50 day simple moving average of $135.76 and a two-hundred day simple moving average of $130.33. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $144.96.

Phillips 66 (NYSE:PSX) last released its 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 net margin of 1.12% and a return on equity of 5.53%. The firm had revenue of $33.69 billion for the quarter, compared to the consensus estimate of $32.29 billion. During the same quarter in the previous year, the firm earned $2.04 earnings per share. Research analysts forecast that Phillips 66 will post 6.8 earnings per share for the current year.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, EVP Vanessa Allen Sutherland sold 4,393 shares of the business’s stock in a transaction on Friday, September 26th. The stock was sold at an average price of $140.00, for a total value of $615,020.00. Following the transaction, the executive vice president owned 34,587 shares of the company’s stock, valued at approximately $4,842,180. The trade was a 11.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Brian Mandell sold 25,500 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president owned 56,838 shares of the company’s stock, valued at $7,959,593.52. This trade represents a 30.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 86,093 shares of company stock worth $11,933,256. Insiders own 0.22% of the company’s stock.

Institutional Trading of Phillips 66

A number of large investors have recently made changes to their positions in the stock. Triumph Capital Management acquired a new stake in shares of Phillips 66 in the third quarter worth approximately $168,000. Keel Point LLC boosted its position in shares of Phillips 66 by 2.5% during the 3rd quarter. Keel Point LLC now owns 3,606 shares of the oil and gas company’s stock worth $490,000 after acquiring an additional 89 shares in the last quarter. Hudson Bay Capital Management LP purchased a new stake in shares of Phillips 66 in the 3rd quarter valued at about $361,000. Allworth Financial LP increased its position in Phillips 66 by 11.2% in the 3rd quarter. Allworth Financial LP now owns 18,414 shares of the oil and gas company’s stock valued at $2,505,000 after acquiring an additional 1,855 shares during the period. Finally, IFP Advisors Inc grew its holdings in Phillips 66 by 7.0% during the third quarter. IFP Advisors Inc now owns 8,294 shares of the oil and gas company’s stock worth $1,128,000 after acquiring an additional 545 shares during the period. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Company Profile

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.