Barclays Cuts Phillips 66 (NYSE:PSX) Price Target to $133.00

Phillips 66 (NYSE:PSX) had its price target lowered by Barclays from $138.00 to $133.00 in a research note issued to investors on Tuesday morning, Benzinga reports. Barclays currently has an equal weight rating on the oil and gas company’s stock.

Several other analysts also recently commented on PSX. Piper Sandler raised their target price on shares of Phillips 66 from $136.00 to $144.00 and gave the stock an overweight rating in a report on Tuesday. Mizuho reduced their target price on shares of Phillips 66 from $154.00 to $150.00 and set a neutral rating for the company in a research note on Monday, September 16th. Wolfe Research initiated coverage on Phillips 66 in a research note on Thursday, July 18th. They issued a peer perform rating on the stock. TD Cowen reduced their price objective on Phillips 66 from $162.00 to $150.00 and set a buy rating for the company in a research report on Wednesday, September 11th. Finally, Scotiabank dropped their target price on Phillips 66 from $156.00 to $145.00 and set a sector outperform rating on the stock in a research report on Friday, July 12th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Phillips 66 presently has a consensus rating of Moderate Buy and a consensus target price of $151.21.

Phillips 66 Price Performance

PSX opened at $136.41 on Tuesday. The stock has a market cap of $57.10 billion, a P/E ratio of 11.70, a P/E/G ratio of 5.48 and a beta of 1.33. Phillips 66 has a 12 month low of $107.85 and a 12 month high of $174.08. The company has a quick ratio of 0.79, a current ratio of 1.14 and a debt-to-equity ratio of 0.56. The company has a fifty day simple moving average of $133.19 and a 200 day simple moving average of $141.75.

Phillips 66 (NYSE:PSX) last announced its quarterly 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 during the quarter, compared to the consensus estimate of $37.79 billion. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the prior year, the company earned $3.87 earnings per share. On average, research analysts expect that Phillips 66 will post 8.19 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 transaction, the chief financial officer now directly owns 81,937 shares of the company’s stock, valued at approximately $11,390,062.37. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.22% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Sei Investments Co. increased its stake in shares of Phillips 66 by 2.4% during the fourth quarter. Sei Investments Co. now owns 386,659 shares of the oil and gas company’s stock worth $51,481,000 after purchasing an additional 8,954 shares during the period. Unigestion Holding SA bought a new position in Phillips 66 during the 4th quarter worth $549,000. Icon Wealth Advisors LLC acquired a new stake in shares of Phillips 66 during the fourth quarter worth $2,358,000. First Financial Bankshares Inc acquired a new stake in shares of Phillips 66 during the fourth quarter worth $380,000. Finally, Point72 Europe London LLP acquired a new position in shares of Phillips 66 in the fourth quarter valued at about $1,090,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

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.