Phillips 66 (NYSE:PSX) Price Target Lowered to $132.00 at Mizuho

Phillips 66 (NYSE:PSX) had its price objective decreased by investment analysts at Mizuho from $140.00 to $132.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the oil and gas company’s stock. Mizuho’s price objective suggests a potential upside of 42.69% from the stock’s current price.

PSX has been the subject of a number of other research reports. Wolfe Research upgraded shares of 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. Piper Sandler downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Wells Fargo & Company raised their price target on Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Barclays raised their target price on shares of Phillips 66 from $115.00 to $135.00 and gave the stock an “equal weight” rating in a report on Friday, March 14th. Finally, The Goldman Sachs Group downgraded Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 price target for the company. in a research report on Thursday, March 27th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $145.36.

Phillips 66 Stock Down 4.2 %

Shares of NYSE:PSX opened at $92.51 on Wednesday. Phillips 66 has a 52 week low of $90.38 and a 52 week high of $169.41. The company has a market capitalization of $37.71 billion, a PE ratio of 18.73, a P/E/G ratio of 4.84 and a beta of 1.17. The company’s fifty day moving average is $122.54 and its 200-day moving average is $124.35. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) 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 prior year, the business earned $3.09 earnings per share. Equities research analysts predict that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Phillips 66

Several hedge funds and other institutional investors have recently made changes to their positions in PSX. Bank of New York Mellon Corp grew its position in Phillips 66 by 7.3% during the 4th quarter. Bank of New York Mellon Corp now owns 9,344,342 shares of the oil and gas company’s stock worth $1,064,601,000 after acquiring an additional 639,323 shares during the last quarter. Geode Capital Management LLC grew its holdings in Phillips 66 by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 8,530,242 shares of the oil and gas company’s stock worth $968,844,000 after acquiring an additional 82,758 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Phillips 66 by 283.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,026,649 shares of the oil and gas company’s stock valued at $686,618,000 after acquiring an additional 4,455,220 shares during the last quarter. Northern Trust Corp grew its stake in shares of Phillips 66 by 10.6% in the fourth quarter. Northern Trust Corp now owns 4,589,079 shares of the oil and gas company’s stock worth $522,834,000 after purchasing an additional 440,107 shares during the last quarter. Finally, Norges Bank acquired a new position in Phillips 66 during the 4th quarter worth about $497,648,000. 76.93% of the stock is owned by institutional investors.

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.