Phillips 66 (NYSE:PSX) PT Raised to $155.00 at Barclays

Phillips 66 (NYSE:PSX) had its price target increased by equities researchers at Barclays from $139.00 to $155.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has an “equal weight” rating on the oil and gas company’s stock. Barclays‘s price target would suggest a potential downside of 1.45% from the stock’s current price.

Other equities research analysts also recently issued reports about the company. Wells Fargo & Company raised their price target on Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. The Goldman Sachs Group increased their price objective on Phillips 66 from $152.00 to $174.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Citigroup started coverage on Phillips 66 in a report on Wednesday, January 24th. They issued a “buy” rating on the stock. Piper Sandler raised their target price on Phillips 66 from $169.00 to $187.00 and gave the company an “overweight” rating in a report on Friday, April 5th. Finally, Scotiabank raised their target price on Phillips 66 from $148.00 to $156.00 and gave the company a “sector outperform” rating in a report on Thursday, April 11th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $158.00.

Phillips 66 Stock Down 0.4 %

PSX opened at $157.28 on Thursday. Phillips 66 has a fifty-two week low of $89.74 and a fifty-two week high of $174.08. The business has a 50-day moving average of $154.09 and a 200-day moving average of $134.94. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.26 and a quick ratio of 1.02. The company has a market capitalization of $67.29 billion, a PE ratio of 10.17, a price-to-earnings-growth ratio of 1.99 and a beta of 1.37.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Wednesday, January 31st. The oil and gas company reported $3.09 earnings per share for the quarter, topping analysts’ consensus estimates of $2.37 by $0.72. Phillips 66 had a return on equity of 22.10% and a net margin of 4.68%. The company had revenue of $38.74 billion during the quarter, compared to the consensus estimate of $34.30 billion. Equities research analysts forecast that Phillips 66 will post 13.2 EPS for the current fiscal year.

Insider Buying and Selling

In related news, VP Joseph Scott Pruitt sold 5,922 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $157.40, for a total transaction of $932,122.80. Following the completion of the transaction, the vice president now owns 6,583 shares in the company, valued at approximately $1,036,164.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Richard G. Harbison sold 21,934 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the completion of the transaction, the executive vice president now owns 24,941 shares in the company, valued at approximately $3,648,120.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Joseph Scott Pruitt sold 5,922 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $157.40, for a total value of $932,122.80. Following the transaction, the vice president now owns 6,583 shares of the company’s stock, valued at approximately $1,036,164.20. The disclosure for this sale can be found here. Insiders sold 35,056 shares of company stock worth $5,272,681 in the last 90 days. 0.22% of the stock is owned by company insiders.

Hedge Funds Weigh In On Phillips 66

Hedge funds and other institutional investors have recently modified their holdings of the stock. Madison Park Capital Advisors LLC raised its position in Phillips 66 by 3.0% in the 1st quarter. Madison Park Capital Advisors LLC now owns 2,346 shares of the oil and gas company’s stock valued at $383,000 after purchasing an additional 68 shares during the last quarter. Warwick Investment Management Inc. raised its position in Phillips 66 by 3.1% in the 4th quarter. Warwick Investment Management Inc. now owns 2,395 shares of the oil and gas company’s stock valued at $319,000 after purchasing an additional 73 shares during the last quarter. HCR Wealth Advisors raised its position in Phillips 66 by 2.9% in the 4th quarter. HCR Wealth Advisors now owns 2,640 shares of the oil and gas company’s stock valued at $351,000 after purchasing an additional 74 shares during the last quarter. Nvwm LLC raised its position in Phillips 66 by 0.9% in the 4th quarter. Nvwm LLC now owns 8,286 shares of the oil and gas company’s stock valued at $1,103,000 after purchasing an additional 75 shares during the last quarter. Finally, Cardinal Capital Management raised its position in Phillips 66 by 0.3% in the 4th quarter. Cardinal Capital Management now owns 23,312 shares of the oil and gas company’s stock valued at $3,104,000 after purchasing an additional 77 shares during the last quarter. Institutional investors own 76.93% of the company’s stock.

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.