Phillips 66 (NYSE:PSX) Price Target Cut to $142.00

Phillips 66 (NYSE:PSX) had its target price dropped by research analysts at Barclays from $147.00 to $142.00 in a research note issued on Monday, Benzinga reports. The firm currently has an “equal weight” rating on the oil and gas company’s stock. Barclays‘s price target points to a potential upside of 1.09% from the stock’s previous close.

A number of other equities analysts also recently commented on the company. JPMorgan Chase & Co. lifted their target price on Phillips 66 from $149.00 to $167.00 and gave the company an “overweight” rating in a research note on Monday, April 1st. Mizuho decreased their target price on Phillips 66 from $162.00 to $160.00 and set a “neutral” rating for the company in a research note on Thursday, June 20th. Argus reaffirmed a “buy” rating and set a $167.00 price target on shares of Phillips 66 in a report on Thursday, May 30th. Scotiabank lifted their price target on Phillips 66 from $148.00 to $156.00 and gave the company a “sector outperform” rating in a report on Thursday, April 11th. Finally, The Goldman Sachs Group lifted their price target on Phillips 66 from $152.00 to $174.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $157.07.

Phillips 66 Stock Performance

Shares of PSX stock opened at $140.47 on Monday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.82 and a current ratio of 1.17. Phillips 66 has a one year low of $94.51 and a one year high of $174.08. The company’s 50-day simple moving average is $142.59 and its 200-day simple moving average is $144.90. The stock has a market capitalization of $59.55 billion, a price-to-earnings ratio of 10.79, a PEG ratio of 2.12 and a beta of 1.34.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Friday, April 26th. The oil and gas company reported $1.90 EPS for the quarter, missing the consensus estimate of $2.05 by ($0.15). The company had revenue of $36.44 billion for the quarter, compared to the consensus estimate of $35.87 billion. Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. During the same period in the previous year, the business posted $4.21 EPS. Equities analysts anticipate that Phillips 66 will post 11.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Phillips 66 news, EVP Timothy D. Roberts sold 37,742 shares of Phillips 66 stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $145.80, for a total value of $5,502,783.60. Following the transaction, the executive vice president now owns 48,365 shares in the company, valued at $7,051,617. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.22% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Phillips 66

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hudson Valley Investment Advisors Inc. ADV lifted its stake in shares of Phillips 66 by 110.1% in the 2nd quarter. Hudson Valley Investment Advisors Inc. ADV now owns 5,904 shares of the oil and gas company’s stock valued at $790,000 after purchasing an additional 3,094 shares during the last quarter. M&R Capital Management Inc. lifted its stake in shares of Phillips 66 by 4.8% in the 2nd quarter. M&R Capital Management Inc. now owns 8,814 shares of the oil and gas company’s stock valued at $1,244,000 after purchasing an additional 401 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Phillips 66 by 28.9% in the 2nd quarter. GAMMA Investing LLC now owns 6,864 shares of the oil and gas company’s stock valued at $969,000 after purchasing an additional 1,541 shares during the last quarter. Transcend Capital Advisors LLC lifted its stake in shares of Phillips 66 by 16.2% in the 2nd quarter. Transcend Capital Advisors LLC now owns 5,396 shares of the oil and gas company’s stock valued at $762,000 after purchasing an additional 752 shares during the last quarter. Finally, Capital Market Strategies LLC lifted its position in Phillips 66 by 23.7% during the 2nd quarter. Capital Market Strategies LLC now owns 2,609 shares of the oil and gas company’s stock worth $368,000 after acquiring an additional 500 shares during the last quarter. 76.93% of the stock is currently 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.