Barclays Lowers Phillips 66 (NYSE:PSX) Price Target to $115.00

Phillips 66 (NYSE:PSX) had its price target cut by Barclays from $124.00 to $115.00 in a research report released on Monday,Benzinga reports. They currently have an equal weight rating on the oil and gas company’s stock.

Other equities research analysts have also recently issued research reports about the company. Piper Sandler set a $144.00 price target on Phillips 66 in a research note on Thursday, October 17th. Bank of America assumed coverage on shares of Phillips 66 in a research note on Thursday, October 17th. They issued a “buy” rating and a $156.00 target price for the company. Scotiabank lowered their target price on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Wells Fargo & Company reduced their price objective on shares of Phillips 66 from $167.00 to $161.00 and set an “overweight” rating for the company in a research report on Monday, December 9th. Finally, Morgan Stanley lowered their price objective on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Phillips 66 presently has an average rating of “Moderate Buy” and a consensus price target of $147.93.

Phillips 66 Stock Up 1.5 %

PSX stock opened at $119.04 on Monday. Phillips 66 has a 12 month low of $108.90 and a 12 month high of $174.08. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The company has a market cap of $49.16 billion, a price-to-earnings ratio of 15.28, a price-to-earnings-growth ratio of 4.06 and a beta of 1.38. The company has a fifty day moving average price of $122.91 and a 200 day moving average price of $130.03.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.41. The firm had revenue of $36.16 billion for the quarter, compared to analyst estimates of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The business’s revenue was down 10.3% on a year-over-year basis. During the same quarter last year, the company posted $4.63 earnings per share. Sell-side analysts expect that Phillips 66 will post 7.56 earnings per share for the current year.

Institutional Trading of Phillips 66

Institutional investors have recently bought and sold shares of the company. Advisory Alpha LLC raised its stake in shares of Phillips 66 by 4.8% during the 2nd quarter. Advisory Alpha LLC now owns 1,648 shares of the oil and gas company’s stock worth $233,000 after buying an additional 76 shares during the last quarter. Krane Funds Advisors LLC raised its position in Phillips 66 by 3.6% during the third quarter. Krane Funds Advisors LLC now owns 2,350 shares of the oil and gas company’s stock worth $309,000 after acquiring an additional 82 shares during the last quarter. Richwood Investment Advisors LLC lifted its holdings in shares of Phillips 66 by 1.9% in the third quarter. Richwood Investment Advisors LLC now owns 4,580 shares of the oil and gas company’s stock valued at $602,000 after purchasing an additional 85 shares in the last quarter. Cobblestone Capital Advisors LLC NY grew its position in shares of Phillips 66 by 0.5% in the third quarter. Cobblestone Capital Advisors LLC NY now owns 17,548 shares of the oil and gas company’s stock valued at $2,307,000 after purchasing an additional 89 shares during the last quarter. Finally, Western Financial Corp CA increased its stake in shares of Phillips 66 by 1.6% during the 3rd quarter. Western Financial Corp CA now owns 5,882 shares of the oil and gas company’s stock worth $773,000 after purchasing an additional 91 shares in 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.