Phillips 66 (NYSE:PSX) Price Target Raised to $220.00

Phillips 66 (NYSE:PSX) had its target price hoisted by equities researchers at TD Cowen from $213.00 to $220.00 in a research report issued on Monday,MarketScreener reports. The brokerage presently has a “buy” rating on the oil and gas company’s stock. TD Cowen’s target price indicates a potential upside of 24.96% from the stock’s current price.

Other analysts have also recently issued research reports about the stock. Zacks Research raised shares of Phillips 66 from a “hold” rating to a “strong-buy” rating in a report on Monday, April 27th. Wall Street Zen upgraded Phillips 66 from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 13th. Jefferies Financial Group boosted their price objective on Phillips 66 from $173.00 to $191.00 and gave the company a “hold” rating in a research note on Tuesday, May 26th. Mizuho raised Phillips 66 from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $170.00 to $212.00 in a report on Wednesday, May 27th. Finally, Morgan Stanley raised their target price on shares of Phillips 66 from $180.00 to $196.00 and gave the stock an “overweight” rating in a research report on Friday, June 12th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, Phillips 66 has an average rating of “Moderate Buy” and an average target price of $192.72.

Phillips 66 Stock Up 2.6%

NYSE PSX traded up $4.41 on Monday, hitting $176.06. 88,023 shares of the stock were exchanged, compared to its average volume of 2,857,204. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.63. The company has a 50-day moving average price of $172.94 and a 200-day moving average price of $160.16. The company has a market cap of $70.59 billion, a PE ratio of 17.44, a PEG ratio of 0.24 and a beta of 0.68. Phillips 66 has a fifty-two week low of $118.07 and a fifty-two week high of $190.61.

Phillips 66 (NYSE:PSX) last posted its earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 EPS for the quarter, beating the consensus estimate of ($0.54) by $1.03. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The firm had revenue of $32.54 billion for the quarter, compared to analyst estimates of $35.86 billion. During the same quarter in the prior year, the company posted ($0.90) earnings per share. Phillips 66’s revenue for the quarter was up 6.9% compared to the same quarter last year. Sell-side analysts anticipate that Phillips 66 will post 18.22 EPS for the current fiscal year.

Insider Buying and Selling

In other Phillips 66 news, CFO Kevin J. Mitchell sold 600 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $171.56, for a total transaction of $102,936.00. Following the transaction, the chief financial officer owned 97,376 shares in the company, valued at approximately $16,705,826.56. The trade was a 0.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Kevin Omar Meyers bought 175 shares of the business’s stock in a transaction dated Wednesday, May 6th. The shares were acquired at an average cost of $173.12 per share, with a total value of $30,296.00. Following the completion of the purchase, the director owned 16,799 shares in the company, valued at approximately $2,908,242.88. This represents a 1.05% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Phillips 66

A number of hedge funds and other institutional investors have recently bought and sold shares of PSX. Clifford Group LLC grew its stake in shares of Phillips 66 by 2.0% during the 4th quarter. Clifford Group LLC now owns 3,315 shares of the oil and gas company’s stock worth $428,000 after purchasing an additional 64 shares during the period. Annis Gardner Whiting Capital Advisors LLC lifted its stake in shares of Phillips 66 by 0.8% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 8,255 shares of the oil and gas company’s stock valued at $1,504,000 after purchasing an additional 65 shares during the period. CYBER HORNET ETFs LLC boosted its holdings 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 buying an additional 66 shares in the last quarter. GHP Investment Advisors Inc. boosted its holdings in Phillips 66 by 2.3% during the fourth quarter. GHP Investment Advisors Inc. now owns 3,210 shares of the oil and gas company’s stock worth $414,000 after buying an additional 72 shares in the last quarter. Finally, Johnson Financial Group Inc. grew its position in 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 worth $88,000 after buying an additional 72 shares during the period. Institutional investors and hedge funds 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.