Phillips 66 (NYSE:PSX) Shares Gap Up – Still a Buy?

Shares of Phillips 66 (NYSE:PSX) gapped up before the market opened on Tuesday . The stock had previously closed at $123.71, but opened at $130.00. Phillips 66 shares last traded at $128.57, with a volume of 735,230 shares changing hands.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on PSX shares. UBS Group lowered their price target on Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Bank of America began coverage on shares of Phillips 66 in a research note on Thursday, October 17th. They issued a “buy” rating and a $156.00 price objective on the stock. Mizuho cut 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 report on Monday, December 16th. Barclays lowered their target price on Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Finally, Wells Fargo & Company boosted their price target on Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $148.00.

Phillips 66 Price Performance

The company has a market cap of $53.82 billion, a price-to-earnings ratio of 26.34, a P/E/G ratio of 5.64 and a beta of 1.37. 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 company’s 50-day simple moving average is $119.04 and its 200-day simple moving average is $127.66.

Phillips 66 (NYSE:PSX) last announced its 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 last year, the business earned $3.09 earnings per share. On average, equities research analysts anticipate that Phillips 66 will post 7.14 EPS for the current year.

Institutional Trading of Phillips 66

Institutional investors and hedge funds have recently bought and sold shares of the company. Mizuho Securities USA LLC grew its holdings in shares of Phillips 66 by 7,549.0% during the third 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 last quarter. Raymond James Financial Inc. acquired a new position in shares of Phillips 66 in the 4th quarter worth approximately $168,790,000. Amundi raised its holdings in shares of Phillips 66 by 25.7% in the 4th quarter. Amundi now owns 3,682,414 shares of the oil and gas company’s stock worth $428,081,000 after purchasing an additional 753,653 shares in the last quarter. ING Groep NV grew its position in Phillips 66 by 123.2% in the third quarter. ING Groep NV now owns 1,182,980 shares of the oil and gas company’s stock worth $155,503,000 after buying an additional 653,032 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of 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 in the last quarter. Institutional investors and hedge funds 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.