Phillips 66 (NYSE:PSX) Price Target Cut to $115.00 by Analysts at Barclays

Phillips 66 (NYSE:PSX) had its price target reduced by Barclays from $124.00 to $115.00 in a research report released on Monday morning,Benzinga reports. Barclays currently has an equal weight rating on the oil and gas company’s stock.

A number of other analysts have also issued reports on PSX. UBS Group dropped their price target on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Morgan Stanley dropped their target price on shares of 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. Scotiabank reduced their price target on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Piper Sandler set a $144.00 price objective on Phillips 66 in a research note on Thursday, October 17th. Finally, Mizuho lowered their target price on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Phillips 66 has an average rating of “Moderate Buy” and an average target price of $147.93.

Phillips 66 Stock Performance

Phillips 66 stock opened at $116.02 on Monday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The firm’s fifty day moving average price is $123.00 and its 200 day moving average price is $130.20. The company has a market capitalization of $47.91 billion, a price-to-earnings ratio of 14.89, a price-to-earnings-growth ratio of 4.06 and a beta of 1.38. Phillips 66 has a 12-month low of $108.90 and a 12-month high of $174.08.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, topping the consensus estimate of $1.63 by $0.41. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The business had revenue of $36.16 billion for the quarter, compared to analysts’ expectations of $36.31 billion. During the same quarter in the previous year, the firm posted $4.63 earnings per share. The company’s revenue was down 10.3% compared to the same quarter last year. On average, research analysts forecast that Phillips 66 will post 7.56 EPS for the current fiscal year.

Hedge Funds Weigh In On Phillips 66

A number of institutional investors and hedge funds have recently bought and sold shares of PSX. nVerses Capital LLC bought a new stake in Phillips 66 in the third quarter worth about $26,000. Values First Advisors Inc. bought a new stake in shares of Phillips 66 during the 3rd quarter worth $30,000. Point72 Hong Kong Ltd acquired a new position in shares of Phillips 66 in the 3rd quarter worth $40,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Phillips 66 during the second quarter valued at $51,000. Finally, Hoese & Co LLP boosted its position in shares of Phillips 66 by 33.1% in the 3rd quarter. Hoese & Co LLP now owns 402 shares of the oil and gas company’s stock valued at $53,000 after purchasing an additional 100 shares during the period. 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.