Raymond James Financial Issues Positive Forecast for Phillips 66 (NYSE:PSX) Stock Price

Phillips 66 (NYSE:PSX) had its price target lifted by research analysts at Raymond James Financial from $215.00 to $218.00 in a research report issued on Wednesday,MarketScreener reports. The brokerage presently has an “outperform” rating on the oil and gas company’s stock. Raymond James Financial’s target price points to a potential upside of 19.73% from the company’s current price.

A number of other brokerages have also recently commented on PSX. BMO Capital Markets lifted their price target on Phillips 66 from $195.00 to $215.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 13th. Zacks Research upgraded shares of Phillips 66 from a “hold” rating to a “strong-buy” rating in a report on Monday, April 27th. Mizuho raised shares of Phillips 66 from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $170.00 to $212.00 in a research note on Wednesday, May 27th. UBS Group upped their price target on shares of Phillips 66 from $172.00 to $212.00 and gave the company a “buy” rating in a report on Thursday, April 2nd. Finally, Jefferies Financial Group increased their price target on shares of Phillips 66 from $173.00 to $191.00 and gave the company a “hold” rating in a research report on Tuesday, May 26th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $191.44.

Phillips 66 Trading Up 1.7%

Shares of NYSE:PSX traded up $3.08 on Wednesday, reaching $182.08. 119,730 shares of the company traded hands, compared to its average volume of 2,825,001. The stock has a market capitalization of $73.00 billion, a P/E ratio of 17.89, a price-to-earnings-growth ratio of 0.27 and a beta of 0.68. The business’s 50-day simple moving average is $172.55 and its 200 day simple moving average is $156.93. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63. Phillips 66 has a 52 week low of $118.00 and a 52 week high of $190.61.

Phillips 66 (NYSE:PSX) last released its earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.54) by $1.03. The company had revenue of $32.54 billion during the quarter, compared to analyst estimates of $35.86 billion. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.Phillips 66’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.90) EPS. As a group, equities analysts anticipate that Phillips 66 will post 17.64 EPS for the current fiscal year.

Insider Transactions at Phillips 66

In related news, Director Lisa Ann Davis sold 3,800 shares of Phillips 66 stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $174.37, for a total transaction of $662,606.00. Following the sale, the director directly owned 8,701 shares in the company, valued at $1,517,193.37. The trade was a 30.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Brian Mandell sold 42,800 shares of the company’s stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $169.53, for a total value of $7,255,884.00. Following the completion of the sale, the executive vice president directly owned 61,595 shares in the company, valued at approximately $10,442,200.35. The trade was a 41.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 92,229 shares of company stock worth $15,990,030 over the last quarter. Insiders own 0.40% of the company’s stock.

Institutional Trading of Phillips 66

Hedge funds have recently modified their holdings of the business. Clifford Group LLC increased its stake in shares of Phillips 66 by 2.0% in the 4th quarter. Clifford Group LLC now owns 3,315 shares of the oil and gas company’s stock worth $428,000 after acquiring an additional 64 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC boosted its stake in Phillips 66 by 0.8% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 8,255 shares of the oil and gas company’s stock worth $1,504,000 after acquiring an additional 65 shares in the last quarter. CYBER HORNET ETFs LLC boosted its stake in Phillips 66 by 5.7% during the fourth quarter. CYBER HORNET ETFs LLC now owns 1,228 shares of the oil and gas company’s stock worth $158,000 after acquiring an additional 66 shares in the last quarter. GHP Investment Advisors Inc. grew its holdings in Phillips 66 by 2.3% in the fourth quarter. GHP Investment Advisors Inc. now owns 3,210 shares of the oil and gas company’s stock worth $414,000 after purchasing an additional 72 shares during the period. Finally, Johnson Financial Group Inc. increased its stake in shares of Phillips 66 by 11.9% during the fourth quarter. Johnson Financial Group Inc. now owns 679 shares of the oil and gas company’s stock valued at $88,000 after purchasing an additional 72 shares in the last quarter. 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.