Wells Fargo & Company Cuts Phillips 66 (NYSE:PSX) Price Target to $167.00

Phillips 66 (NYSE:PSX) had its price target dropped by stock analysts at Wells Fargo & Company from $182.00 to $167.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the oil and gas company’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 25.13% from the company’s current price.

Several other equities analysts also recently weighed in on the stock. Barclays reduced their target price on shares of Phillips 66 from $138.00 to $133.00 and set an “equal weight” rating for the company in a research note on Tuesday. Mizuho lowered their target price on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. TD Cowen cut their price target on Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Morgan Stanley reduced their price target on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Finally, Wolfe Research initiated coverage on Phillips 66 in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, Phillips 66 presently has a consensus rating of “Moderate Buy” and a consensus target price of $151.86.

Phillips 66 Stock Performance

Shares of Phillips 66 stock traded up $1.13 on Wednesday, reaching $133.46. 273,665 shares of the company traded hands, compared to its average volume of 2,715,575. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 0.79. The firm has a market capitalization of $56.58 billion, a PE ratio of 10.27, a PEG ratio of 5.46 and a beta of 1.33. The company has a 50 day moving average of $133.50 and a 200 day moving average of $141.83. Phillips 66 has a 52 week low of $107.85 and a 52 week high of $174.08.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $0.33. The firm had revenue of $38.91 billion for the quarter, compared to analysts’ expectations of $37.79 billion. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.87 EPS. Equities analysts forecast that Phillips 66 will post 8.21 earnings per share for the current year.

Insider Buying and Selling at Phillips 66

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $139.01, for a total value of $4,170,300.00. Following the completion of the transaction, the chief financial officer now directly owns 81,937 shares in the company, valued at approximately $11,390,062.37. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.22% of the company’s stock.

Institutional Trading of Phillips 66

Hedge funds and other institutional investors have recently bought and sold shares of the company. Madison Park Capital Advisors LLC lifted its holdings in shares of 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 worth $383,000 after acquiring an additional 68 shares during the last quarter. MV Capital Management Inc. lifted its stake in Phillips 66 by 9.6% in the first quarter. MV Capital Management Inc. now owns 837 shares of the oil and gas company’s stock worth $137,000 after purchasing an additional 73 shares during the last quarter. Mitchell & Pahl Private Wealth LLC boosted its position in Phillips 66 by 0.4% during the second quarter. Mitchell & Pahl Private Wealth LLC now owns 17,847 shares of the oil and gas company’s stock valued at $2,519,000 after buying an additional 74 shares during the period. Catalyst Financial Partners LLC grew its stake in shares of Phillips 66 by 5.1% during the second quarter. Catalyst Financial Partners LLC now owns 1,514 shares of the oil and gas company’s stock valued at $214,000 after buying an additional 74 shares during the last quarter. Finally, Claro Advisors LLC increased its holdings in shares of Phillips 66 by 4.5% in the first quarter. Claro Advisors LLC now owns 1,738 shares of the oil and gas company’s stock worth $284,000 after buying an additional 75 shares during the period. Hedge funds and other institutional investors own 76.93% of the company’s stock.

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.