Phillips 66 (NYSE:PSX) Price Target Raised to $201.00 at Wells Fargo & Company

Phillips 66 (NYSE:PSX) had its target price lifted by stock analysts at Wells Fargo & Company from $163.00 to $201.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the oil and gas company’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 7.89% from the stock’s current price.

Other research analysts also recently issued reports about the stock. Jefferies Financial Group raised shares of Phillips 66 from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 16th. TD Cowen reissued a “buy” rating on shares of Phillips 66 in a research report on Friday, February 6th. Wall Street Zen upgraded shares of Phillips 66 from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 14th. Weiss Ratings raised shares of Phillips 66 from a “hold (c)” rating to a “buy (b-)” rating in a research report on Monday, February 23rd. Finally, Wolfe Research upped their target price on shares of Phillips 66 from $159.00 to $164.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat, Phillips 66 has an average rating of “Moderate Buy” and an average price target of $166.11.

Phillips 66 Price Performance

Shares of NYSE:PSX opened at $186.30 on Tuesday. The firm has a market capitalization of $74.66 billion, a PE ratio of 17.23, a P/E/G ratio of 0.35 and a beta of 0.86. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $190.61. The company has a quick ratio of 0.91, a current ratio of 1.30 and a debt-to-equity ratio of 0.62. The company has a 50-day moving average price of $160.17 and a two-hundred day moving average price of $143.83.

Phillips 66 (NYSE:PSX) last posted its earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.32. Phillips 66 had a return on equity of 9.13% and a net margin of 3.22%.The business had revenue of $32.16 billion during the quarter, compared to analyst estimates of $33.81 billion. During the same quarter in the previous year, the firm earned ($0.15) EPS. Equities analysts forecast that Phillips 66 will post 6.8 EPS for the current year.

Insider Buying and Selling

In other Phillips 66 news, EVP Don Baldridge sold 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $160.00, for a total transaction of $1,200,000.00. Following the completion of the transaction, the executive vice president owned 38,488 shares in the company, valued at $6,158,080. The trade was a 16.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Lisa Ann Davis sold 3,800 shares of the company’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $174.37, for a total value of $662,606.00. Following the transaction, the director directly owned 8,701 shares in the company, valued at approximately $1,517,193.37. The trade was a 30.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 84,688 shares of company stock worth $14,066,145 over the last three months. 0.22% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of PSX. Evolution Wealth Management Inc. purchased a new stake in shares of Phillips 66 during the second quarter worth $25,000. Board of the Pension Protection Fund acquired a new stake in Phillips 66 in the fourth quarter valued at $26,000. Accordant Advisory Group Inc raised its stake in Phillips 66 by 900.0% in the fourth quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company’s stock valued at $26,000 after buying an additional 180 shares in the last quarter. Eagle Bay Advisors LLC purchased a new stake in Phillips 66 during the 4th quarter worth about $27,000. Finally, SWAN Capital LLC boosted its position in shares of Phillips 66 by 1,055.6% during the 4th quarter. SWAN Capital LLC now owns 208 shares of the oil and gas company’s stock worth $27,000 after acquiring an additional 190 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

About Phillips 66

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.