Phillips 66 (NYSE:PSX) Receives $147.93 Consensus Target Price from Brokerages

Shares of Phillips 66 (NYSE:PSX) have been given a consensus rating of “Moderate Buy” by the fourteen brokerages that are currently covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $148.00.

PSX has been the subject of a number of recent research reports. Piper Sandler downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Barclays decreased their target price on shares of Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Wells Fargo & Company lifted their price target on shares of Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Wolfe Research upgraded Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective for the company in a report on Friday, January 3rd. Finally, Bank of America initiated coverage on Phillips 66 in a research note on Thursday, October 17th. They set a “buy” rating and a $156.00 target price on the stock.

Institutional Trading of Phillips 66

A number of hedge funds and other institutional investors have recently made changes to their positions in PSX. Van ECK Associates Corp lifted its holdings in shares of Phillips 66 by 263.3% in the 3rd quarter. Van ECK Associates Corp now owns 83,278 shares of the oil and gas company’s stock valued at $10,753,000 after buying an additional 60,355 shares during the period. Everence Capital Management Inc. acquired a new position in Phillips 66 in the fourth quarter valued at approximately $3,033,000. Donoghue Forlines LLC purchased a new stake in Phillips 66 in the 4th quarter worth approximately $1,438,000. Flavin Financial Services Inc. acquired a new stake in shares of Phillips 66 during the 4th quarter worth approximately $1,190,000. Finally, Mizuho Securities USA LLC lifted its stake in shares of Phillips 66 by 7,549.0% in the 3rd quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock valued at $328,625,000 after purchasing an additional 2,467,316 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Stock Performance

Shares of PSX stock opened at $120.45 on Monday. The company’s 50 day moving average is $119.56 and its 200 day moving average is $128.06. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The firm has a market cap of $49.74 billion, a price-to-earnings ratio of 24.38, a PEG ratio of 3.89 and a beta of 1.37. Phillips 66 has a 52-week low of $108.90 and a 52-week high of $174.08.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($1.38). Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same period in the previous year, the company earned $3.09 earnings per share. On average, sell-side analysts anticipate that Phillips 66 will post 7.57 EPS for the current fiscal year.

Phillips 66 Company Profile

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.