Phillips 66 (NYSE:PSX) Raised to Outperform at Wolfe Research

Phillips 66 (NYSE:PSXGet Free Report) was upgraded by investment analysts at Wolfe Research from a “peer perform” rating to an “outperform” rating in a report released on Friday, Marketbeat.com reports. The firm currently has a $143.00 price target on the oil and gas company’s stock. Wolfe Research’s target price indicates a potential upside of 23.18% from the stock’s previous close.

Several other equities research analysts have also commented on PSX. Bank of America initiated coverage on shares of Phillips 66 in a report on Thursday, October 17th. They issued a “buy” rating and a $156.00 price target for the company. Scotiabank reduced their price objective on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. JPMorgan Chase & Co. dropped their target price on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 2nd. UBS Group reduced their price target on Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Finally, Wells Fargo & Company decreased their price objective on Phillips 66 from $167.00 to $161.00 and set an “overweight” rating for the company in a research note on Monday, December 9th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $148.57.

Check Out Our Latest Stock Report on PSX

Phillips 66 Stock Up 1.5 %

Shares of NYSE PSX opened at $116.09 on Friday. Phillips 66 has a 1 year low of $108.90 and a 1 year high of $174.08. The firm has a 50-day simple moving average of $123.89 and a two-hundred day simple moving average of $131.26. The company has a market cap of $47.94 billion, a P/E ratio of 14.90, a PEG ratio of 4.06 and a beta of 1.35. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83.

Phillips 66 (NYSE:PSXGet Free Report) last released its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.41. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The business had revenue of $36.16 billion during the quarter, compared to the consensus estimate of $36.31 billion. During the same period last year, the company earned $4.63 earnings per share. The business’s revenue for the quarter was down 10.3% compared to the same quarter last year. Research analysts anticipate that Phillips 66 will post 7.56 earnings per share for the current year.

Institutional Trading of Phillips 66

Several institutional investors have recently bought and sold shares of PSX. Everence Capital Management Inc. purchased a new stake in shares of Phillips 66 during the fourth quarter worth about $3,033,000. Old Port Advisors increased its stake in Phillips 66 by 14.8% during the 4th quarter. Old Port Advisors now owns 1,853 shares of the oil and gas company’s stock worth $211,000 after buying an additional 239 shares in the last quarter. Independent Solutions Wealth Management LLC increased its stake in Phillips 66 by 4.3% during the 3rd quarter. Independent Solutions Wealth Management LLC now owns 15,362 shares of the oil and gas company’s stock worth $2,019,000 after buying an additional 628 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Phillips 66 by 2.8% during the third quarter. Principal Financial Group Inc. now owns 530,807 shares of the oil and gas company’s stock valued at $69,775,000 after acquiring an additional 14,209 shares during the last quarter. Finally, Birmingham Capital Management Co. Inc. AL lifted its position in shares of Phillips 66 by 17.7% in the third quarter. Birmingham Capital Management Co. Inc. AL now owns 6,653 shares of the oil and gas company’s stock valued at $875,000 after acquiring an additional 1,002 shares in the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

Phillips 66 Company Profile

(Get Free Report)

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.

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