Phillips 66 (NYSE:PSX) Price Target Lowered to $136.00 at Barclays

Phillips 66 (NYSE:PSX) had its price objective reduced by investment analysts at Barclays from $142.00 to $136.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the oil and gas company’s stock. Barclays‘s target price would indicate a potential upside of 1.52% from the company’s current price.

Several other equities analysts have also recently weighed in on PSX. Wells Fargo & Company raised their target price on shares of Phillips 66 from $179.00 to $191.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Bank of America lifted their price objective on shares of Phillips 66 from $150.00 to $180.00 and gave the stock a “neutral” rating in a research report on Friday, March 15th. JPMorgan Chase & Co. reduced their price objective on shares of Phillips 66 from $165.00 to $162.00 and set an “overweight” rating for the company in a research report on Tuesday, July 2nd. Mizuho reduced their price objective on shares of Phillips 66 from $162.00 to $160.00 and set a “neutral” rating for the company in a research report on Thursday, June 20th. Finally, TD Cowen reduced their price objective on shares of Phillips 66 from $164.00 to $155.00 and set a “buy” rating for the company in a research report on Friday, June 21st. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $156.64.

Phillips 66 Price Performance

NYSE:PSX opened at $133.97 on Tuesday. Phillips 66 has a 1-year low of $98.65 and a 1-year high of $174.08. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.58. The firm has a fifty day simple moving average of $140.63 and a 200 day simple moving average of $145.05. The stock has a market capitalization of $56.80 billion, a PE ratio of 10.31, a P/E/G ratio of 2.13 and a beta of 1.34.

Phillips 66 (NYSE:PSX) last released its earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share for the quarter, missing the consensus estimate of $2.05 by ($0.15). Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. The firm had revenue of $36.44 billion during the quarter, compared to the consensus estimate of $35.87 billion. During the same period in the prior year, the business posted $4.21 earnings per share. On average, research analysts expect that Phillips 66 will post 10.62 EPS for the current fiscal year.

Insider Activity at Phillips 66

In related news, EVP Timothy D. Roberts sold 37,742 shares of the business’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $145.80, for a total value of $5,502,783.60. Following the completion of the transaction, the executive vice president now owns 48,365 shares of the company’s stock, valued at $7,051,617. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.22% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PSX. DekaBank Deutsche Girozentrale raised its stake in Phillips 66 by 12.4% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 201,592 shares of the oil and gas company’s stock worth $26,501,000 after acquiring an additional 22,278 shares in the last quarter. Eldred Rock Partners LLC acquired a new position in Phillips 66 during the fourth quarter worth about $10,402,000. TIAA Trust National Association raised its stake in Phillips 66 by 32.9% during the fourth quarter. TIAA Trust National Association now owns 14,816 shares of the oil and gas company’s stock worth $1,973,000 after acquiring an additional 3,670 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in Phillips 66 by 27.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 48,601 shares of the oil and gas company’s stock worth $6,470,000 after acquiring an additional 10,536 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky raised its stake in Phillips 66 by 14.3% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 289,395 shares of the oil and gas company’s stock worth $38,530,000 after acquiring an additional 36,116 shares in the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Company Profile

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.