Phillips 66 (NYSE:PSX) Receives $148.57 Consensus Price Target from Analysts

Shares of Phillips 66 (NYSE:PSX) have received an average rating of “Moderate Buy” from the fifteen ratings firms that are covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $147.93.

Several research firms have issued reports on PSX. Piper Sandler set a $144.00 price objective on shares of Phillips 66 in a research note on Thursday, October 17th. Scotiabank decreased 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. UBS Group decreased their target price on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Wells Fargo & Company decreased their target price on shares of Phillips 66 from $167.00 to $161.00 and set an “overweight” rating for the company in a research note on Monday, December 9th. Finally, Morgan Stanley decreased their target price on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in PSX. Mizuho Securities USA LLC raised its holdings in Phillips 66 by 7,549.0% during the third quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock worth $328,625,000 after purchasing an additional 2,467,316 shares in the last quarter. ING Groep NV increased its holdings in Phillips 66 by 123.2% in the third quarter. ING Groep NV now owns 1,182,980 shares of the oil and gas company’s stock valued at $155,503,000 after buying an additional 653,032 shares in the last quarter. Bank of Montreal Can increased its holdings in Phillips 66 by 63.4% in the third quarter. Bank of Montreal Can now owns 1,633,876 shares of the oil and gas company’s stock valued at $214,120,000 after buying an additional 633,970 shares in the last quarter. Mizuho Markets Americas LLC purchased a new position in Phillips 66 in the third quarter valued at about $70,983,000. Finally, Canada Pension Plan Investment Board increased its holdings in Phillips 66 by 574.0% in the second quarter. Canada Pension Plan Investment Board now owns 443,044 shares of the oil and gas company’s stock valued at $62,545,000 after buying an additional 377,314 shares in the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Stock Performance

Shares of PSX stock opened at $116.02 on Thursday. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The firm has a fifty day moving average price of $123.00 and a 200 day moving average price of $130.20. The company has a market cap of $47.91 billion, a P/E ratio of 14.89, a PEG ratio of 4.06 and a beta of 1.38. Phillips 66 has a 12 month low of $108.90 and a 12 month high of $174.08.

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

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.