Phillips 66 (NYSE:PSX) PT Lowered to $136.00 at Scotiabank

Phillips 66 (NYSE:PSX) had its target price reduced by equities research analysts at Scotiabank from $145.00 to $136.00 in a report released on Thursday, Benzinga reports. The firm presently has a “sector outperform” rating on the oil and gas company’s stock. Scotiabank’s target price would suggest a potential downside of 0.48% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on PSX. Mizuho decreased their price objective on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. TD Cowen cut their price objective on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Raymond James raised their target price on shares of Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Barclays decreased their price objective on Phillips 66 from $138.00 to $133.00 and set an “equal weight” rating for the company in a report on Tuesday. Finally, JPMorgan Chase & Co. dropped their target price on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 2nd. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $151.21.

Phillips 66 Stock Up 1.4 %

Shares of NYSE:PSX traded up $1.93 during trading hours on Thursday, hitting $136.65. The company’s stock had a trading volume of 418,955 shares, compared to its average volume of 2,710,086. The firm’s fifty day moving average price is $133.28 and its 200 day moving average price is $141.78. Phillips 66 has a 52 week low of $107.85 and a 52 week high of $174.08. The company has a market capitalization of $57.93 billion, a price-to-earnings ratio of 10.51, a P/E/G ratio of 5.46 and a beta of 1.33. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 0.79.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.33. The company had revenue of $38.91 billion during the quarter, compared to the consensus estimate of $37.79 billion. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. Phillips 66’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.87 earnings per share. As a group, research analysts expect that Phillips 66 will post 8.21 EPS for the current year.

Insider Activity

In related news, CFO Kevin J. Mitchell sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was 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 directly owns 81,937 shares in the company, valued at approximately $11,390,062.37. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.22% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Paragon Associates & Paragon Associates II Joint Venture acquired a new position in Phillips 66 in the 4th quarter valued at about $2,663,000. CMG Global Holdings LLC purchased a new position in Phillips 66 in the fourth quarter worth approximately $214,000. Secured Retirement Advisors LLC acquired a new stake in Phillips 66 during the fourth quarter worth $1,054,000. Burford Brothers Inc. purchased a new stake in Phillips 66 in the fourth quarter valued at $534,000. Finally, Quarry LP raised its position in Phillips 66 by 36.1% in the fourth quarter. Quarry LP now owns 3,751 shares of the oil and gas company’s stock valued at $499,000 after purchasing an additional 994 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.