Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell Boosts Phillips 66 (NYSE:PSX) Price Target to $126.00

Phillips 66 (NYSE:PSX) had its price objective upped by research analysts at Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell from $91.00 to $126.00 in a report issued on Wednesday, Analyst Price Targets reports. The firm currently has a “buy” rating on the oil and gas company’s stock. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell’s price target points to a potential upside of 37.49% from the stock’s previous close.

PSX has been the subject of several other research reports. Zacks Investment Research raised shares of Phillips 66 from a “sell” rating to a “hold” rating and set a $89.00 price target for the company in a research report on Thursday, March 4th. Raymond James raised their price target on shares of Phillips 66 from $80.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, March 17th. Barclays raised their price target on shares of Phillips 66 from $75.00 to $88.00 and gave the company an “overweight” rating in a research report on Monday, March 8th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $65.00 price target on shares of Phillips 66 in a research report on Monday, March 1st. Finally, Credit Suisse Group raised their price target on shares of Phillips 66 from $90.00 to $95.00 and gave the company an “outperform” rating in a research report on Wednesday, May 12th. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $85.44.

NYSE:PSX opened at $91.64 on Wednesday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.26 and a quick ratio of 0.89. The stock has a market cap of $40.13 billion, a PE ratio of -18.82, a P/E/G ratio of 1.54 and a beta of 1.69. The business’s 50 day moving average is $83.33. Phillips 66 has a fifty-two week low of $43.27 and a fifty-two week high of $94.34.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Thursday, April 29th. The oil and gas company reported ($1.16) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($1.40) by $0.24. Phillips 66 had a negative net margin of 3.22% and a negative return on equity of 6.12%. The firm had revenue of $21.93 billion during the quarter, compared to analysts’ expectations of $16.57 billion. During the same quarter last year, the company posted $1.02 EPS. On average, equities analysts predict that Phillips 66 will post 2.73 earnings per share for the current year.

A number of large investors have recently made changes to their positions in PSX. First Trust Advisors LP raised its stake in Phillips 66 by 17.7% during the 4th quarter. First Trust Advisors LP now owns 66,557 shares of the oil and gas company’s stock worth $4,655,000 after acquiring an additional 10,010 shares in the last quarter. California Public Employees Retirement System increased its stake in Phillips 66 by 5.0% in the fourth quarter. California Public Employees Retirement System now owns 1,056,836 shares of the oil and gas company’s stock valued at $73,915,000 after purchasing an additional 49,878 shares during the period. RFG Advisory LLC acquired a new position in Phillips 66 in the fourth quarter valued at $308,000. Treasurer of the State of North Carolina increased its stake in Phillips 66 by 0.4% in the fourth quarter. Treasurer of the State of North Carolina now owns 183,755 shares of the oil and gas company’s stock valued at $12,852,000 after purchasing an additional 690 shares during the period. Finally, Bailard Inc. increased its stake in Phillips 66 by 2.3% in the fourth quarter. Bailard Inc. now owns 9,895 shares of the oil and gas company’s stock valued at $692,000 after purchasing an additional 224 shares during the period. Hedge funds and other institutional investors own 69.20% of the company’s stock.

Phillips 66 Company Profile

Phillips 66 operates as an energy manufacturing and logistics company. 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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Analyst Recommendations for Phillips 66 (NYSE:PSX)

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