Phillips 66 (NYSE:PSX) Given New $162.00 Price Target at JPMorgan Chase & Co.

Phillips 66 (NYSE:PSX) had its price target cut by JPMorgan Chase & Co. from $165.00 to $162.00 in a research note released on Tuesday, Benzinga reports. They currently have an overweight rating on the oil and gas company’s stock.

Other analysts have also recently issued reports about the company. Wells Fargo & Company boosted their price target on Phillips 66 from $179.00 to $191.00 and gave the stock an overweight rating in a research report on Monday, April 8th. Piper Sandler dropped their price target on Phillips 66 from $170.00 to $151.00 and set an overweight rating on the stock in a research report on Friday, June 14th. Mizuho dropped their price target on Phillips 66 from $162.00 to $160.00 and set a neutral rating on the stock in a research report on Thursday, June 20th. Scotiabank upped their price objective on Phillips 66 from $148.00 to $156.00 and gave the company a sector outperform rating in a research report on Thursday, April 11th. Finally, The Goldman Sachs Group upped their price objective on Phillips 66 from $152.00 to $174.00 and gave the company a buy rating in a research report on Friday, March 22nd. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $157.07.

Phillips 66 Stock Down 0.3 %

Shares of NYSE:PSX opened at $140.47 on Tuesday. Phillips 66 has a 1 year low of $94.51 and a 1 year high of $174.08. The company has a market cap of $59.55 billion, a PE ratio of 10.79, a P/E/G ratio of 2.12 and a beta of 1.34. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.17 and a quick ratio of 0.82. The stock’s 50-day moving average is $142.59 and its 200 day moving average is $144.90.

Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. The firm had revenue of $36.44 billion for the quarter, compared to analysts’ expectations of $35.87 billion. During the same quarter last year, the company posted $4.21 EPS. Sell-side analysts anticipate that Phillips 66 will post 11.08 EPS for the current year.

Insider Transactions at Phillips 66

In other news, EVP Timothy D. Roberts sold 37,742 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $145.80, for a total value of $5,502,783.60. Following the completion of the sale, the executive vice president now directly owns 48,365 shares in the company, valued at approximately $7,051,617. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.22% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Phillips 66

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in Phillips 66 by 4.0% in the 1st quarter. Vanguard Group Inc. now owns 41,271,077 shares of the oil and gas company’s stock worth $6,741,218,000 after buying an additional 1,578,669 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Phillips 66 by 20.3% in the 4th quarter. Wellington Management Group LLP now owns 10,903,130 shares of the oil and gas company’s stock valued at $1,451,643,000 after acquiring an additional 1,842,226 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Phillips 66 by 38.0% in the 1st quarter. Bank of New York Mellon Corp now owns 8,019,795 shares of the oil and gas company’s stock valued at $1,309,954,000 after acquiring an additional 2,209,043 shares during the last quarter. Morgan Stanley lifted its stake in Phillips 66 by 2.1% in the third quarter. Morgan Stanley now owns 6,768,960 shares of the oil and gas company’s stock worth $813,291,000 after purchasing an additional 138,646 shares during the last quarter. Finally, Boston Partners lifted its stake in Phillips 66 by 41.4% in the first quarter. Boston Partners now owns 5,453,892 shares of the oil and gas company’s stock worth $889,214,000 after purchasing an additional 1,595,722 shares during the last quarter. Hedge funds and other 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.