Phillips 66 (NYSE:PSX) Price Target Lowered to $136.00 at Piper Sandler

Phillips 66 (NYSE:PSX) had its target price reduced by equities researchers at Piper Sandler from $151.00 to $136.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has an “overweight” rating on the oil and gas company’s stock. Piper Sandler’s price objective suggests a potential upside of 5.17% from the company’s previous close.

Several other brokerages also recently weighed in on PSX. Argus restated a “buy” rating and issued a $167.00 target price on shares of Phillips 66 in a research note on Thursday, May 30th. Wells Fargo & Company upped their target price on Phillips 66 from $176.00 to $182.00 and gave the company an “overweight” rating in a research report on Tuesday, September 3rd. Wolfe Research began coverage on Phillips 66 in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. Raymond James upped their price objective on shares of Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Finally, Mizuho dropped their target price on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a research report on Monday. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, Phillips 66 presently has an average rating of “Moderate Buy” and an average target price of $154.21.

Phillips 66 Trading Down 2.4 %

Shares of NYSE PSX traded down $3.23 during trading hours on Friday, reaching $129.32. The stock had a trading volume of 685,159 shares, compared to its average volume of 2,667,778. The business’s fifty day moving average price is $135.37 and its two-hundred day moving average price is $143.79. The firm has a market cap of $54.13 billion, a price-to-earnings ratio of 9.97, a P/E/G ratio of 4.53 and a beta of 1.33. Phillips 66 has a 52-week low of $107.85 and a 52-week high of $174.08. The company has a current ratio of 1.14, a quick ratio of 0.79 and a debt-to-equity ratio of 0.56.

Phillips 66 (NYSE:PSX) last issued its earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.33. The company had revenue of $38.91 billion for the quarter, compared to analysts’ expectations of $37.79 billion. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The firm’s quarterly revenue was up 8.9% on a year-over-year basis. During the same period in the prior year, the business earned $3.87 EPS. Analysts expect that Phillips 66 will post 9.25 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the sale, the chief financial officer now owns 81,937 shares of the company’s stock, valued at $11,390,062.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.22% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Phillips 66

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Madison Park Capital Advisors LLC increased its holdings in Phillips 66 by 3.0% during the 1st quarter. Madison Park Capital Advisors LLC now owns 2,346 shares of the oil and gas company’s stock valued at $383,000 after acquiring an additional 68 shares in the last quarter. Warwick Investment Management Inc. lifted its stake in shares of Phillips 66 by 3.1% during the fourth quarter. Warwick Investment Management Inc. now owns 2,395 shares of the oil and gas company’s stock worth $319,000 after purchasing an additional 73 shares in the last quarter. MV Capital Management Inc. raised its holdings in shares of Phillips 66 by 9.6% during the 1st quarter. MV Capital Management Inc. now owns 837 shares of the oil and gas company’s stock valued at $137,000 after buying an additional 73 shares during the period. HCR Wealth Advisors raised its stake in shares of Phillips 66 by 2.9% during the fourth quarter. HCR Wealth Advisors now owns 2,640 shares of the oil and gas company’s stock valued at $351,000 after purchasing an additional 74 shares during the period. Finally, Mitchell & Pahl Private Wealth LLC increased its stake in Phillips 66 by 0.4% during the 2nd quarter. Mitchell & Pahl Private Wealth LLC now owns 17,847 shares of the oil and gas company’s stock worth $2,519,000 after buying an additional 74 shares during the period. 76.93% of the stock is owned by hedge funds and other institutional investors.

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.