Phillips 66 (NYSE:PSX) Price Target Increased to $155.00 by Analysts at Raymond James

Phillips 66 (NYSE:PSX) had its price objective hoisted by investment analysts at Raymond James from $150.00 to $155.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the oil and gas company’s stock. Raymond James’ price objective would indicate a potential upside of 6.18% from the stock’s previous close.

Other analysts have also issued reports about the company. StockNews.com lowered Phillips 66 from a “buy” rating to a “hold” rating in a research report on Monday, May 6th. Scotiabank lowered their price objective on Phillips 66 from $156.00 to $145.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. Piper Sandler lowered their price objective on Phillips 66 from $170.00 to $151.00 and set an “overweight” rating for the company in a research report on Friday, June 14th. Wells Fargo & Company decreased their target price on Phillips 66 from $180.00 to $176.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, Argus restated a “buy” rating and set a $167.00 target price on shares of Phillips 66 in a research report on Thursday, May 30th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Phillips 66 currently has an average rating of “Moderate Buy” and an average price target of $157.23.

Phillips 66 Stock Performance

PSX stock traded down $1.19 during midday trading on Wednesday, hitting $145.98. The stock had a trading volume of 823,967 shares, compared to its average volume of 2,662,875. The firm has a market capitalization of $61.89 billion, a price-to-earnings ratio of 11.24, a P/E/G ratio of 2.49 and a beta of 1.34. The stock has a 50-day simple moving average of $139.12 and a 200 day simple moving average of $145.76. Phillips 66 has a 52 week low of $107.41 and a 52 week 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.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.33. Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. The company had revenue of $38.91 billion during the quarter, compared to analysts’ expectations of $37.79 billion. During the same period last year, the business earned $3.87 earnings per share. The business’s revenue was up 8.9% on a year-over-year basis. As a group, equities research analysts anticipate that Phillips 66 will post 9.4 earnings per share for the current year.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, EVP Timothy D. Roberts sold 37,742 shares of the business’s stock in a transaction that occurred on 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 sale, the executive vice president now owns 48,365 shares in the company, valued at approximately $7,051,617. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.22% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PSX. Ritholtz Wealth Management bought a new stake in shares of Phillips 66 during the 4th quarter worth $245,000. Global Retirement Partners LLC grew its stake in Phillips 66 by 29.2% in the fourth quarter. Global Retirement Partners LLC now owns 2,702 shares of the oil and gas company’s stock valued at $350,000 after acquiring an additional 610 shares during the period. AdvisorNet Financial Inc lifted its holdings in Phillips 66 by 26.6% during the fourth quarter. AdvisorNet Financial Inc now owns 1,275 shares of the oil and gas company’s stock worth $170,000 after acquiring an additional 268 shares during the period. Claro Advisors LLC bought a new stake in Phillips 66 during the fourth quarter worth $221,000. Finally, Pinnacle Financial Partners Inc lifted its holdings in Phillips 66 by 3.7% during the fourth quarter. Pinnacle Financial Partners Inc now owns 4,792 shares of the oil and gas company’s stock worth $638,000 after acquiring an additional 172 shares during the period. 76.93% of the stock is owned by institutional investors and hedge funds.

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.