JPMorgan Chase & Co. Cuts Phillips 66 (NYSE:PSX) Price Target to $141.00

Phillips 66 (NYSE:PSX) had its price target dropped by analysts at JPMorgan Chase & Co. from $160.00 to $141.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the oil and gas company’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 5.44% from the company’s previous close.

Other equities analysts have also recently issued reports about the stock. Scotiabank lowered their price target on shares of Phillips 66 from $156.00 to $145.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. Piper Sandler lowered their target price on Phillips 66 from $151.00 to $136.00 and set an “overweight” rating on the stock in a research note on Friday, September 20th. Wells Fargo & Company upped their target price on Phillips 66 from $176.00 to $182.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 3rd. Wolfe Research started coverage on Phillips 66 in a report on Thursday, July 18th. They set a “peer perform” rating for the company. Finally, Raymond James increased their price objective on Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. 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.com, the company has an average rating of “Moderate Buy” and a consensus target price of $152.71.

Phillips 66 Stock Up 0.6 %

NYSE:PSX traded up $0.74 during trading hours on Wednesday, hitting $133.73. 573,160 shares of the company’s stock traded hands, compared to its average volume of 2,728,073. Phillips 66 has a twelve month low of $107.85 and a twelve month high of $174.08. The firm has a market cap of $55.98 billion, a P/E ratio of 10.29, a P/E/G ratio of 5.28 and a beta of 1.33. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.79 and a current ratio of 1.14. The stock’s fifty day moving average price is $134.05 and its two-hundred day moving average price is $142.60.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.33. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The business had revenue of $38.91 billion during the quarter, compared to analyst estimates of $37.79 billion. During the same period in the prior year, the firm earned $3.87 earnings per share. The firm’s revenue was up 8.9% compared to the same quarter last year. On average, research analysts expect that Phillips 66 will post 8.27 earnings per share for the current fiscal year.

Insider Activity at Phillips 66

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the company’s stock in a transaction on 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 completion of the sale, the chief financial officer now owns 81,937 shares in the company, valued at approximately $11,390,062.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.22% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of PSX. Madison Park Capital Advisors LLC raised its position in shares of Phillips 66 by 3.0% during the first 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. increased its holdings 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 in the last quarter. Mitchell & Pahl Private Wealth LLC lifted its stake in Phillips 66 by 0.4% in 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 boosted its holdings in shares of Phillips 66 by 5.1% during the 2nd quarter. Catalyst Financial Partners LLC now owns 1,514 shares of the oil and gas company’s stock worth $214,000 after buying an additional 74 shares in the last quarter. Finally, Claro Advisors LLC grew its position in shares of Phillips 66 by 4.5% during the 1st 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. 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.