Brokerages Set Phillips 66 (NYSE:PSX) PT at $148.57

Shares of Phillips 66 (NYSE:PSX) have received an average rating of “Moderate Buy” from the fifteen research firms that are presently covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $147.93.

A number of equities research analysts have recently issued reports on the stock. Piper Sandler cut shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. JPMorgan Chase & Co. dropped their price objective 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. Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective for the company in a research report on Friday, January 3rd. Wells Fargo & Company decreased their target price on Phillips 66 from $167.00 to $161.00 and set an “overweight” rating on the stock in a report on Monday, December 9th. Finally, Barclays decreased their price objective on shares of Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a report on Monday.

Phillips 66 Stock Up 1.5 %

PSX stock opened at $119.04 on Thursday. The company has a market cap of $49.16 billion, a price-to-earnings ratio of 15.28, a P/E/G ratio of 3.17 and a beta of 1.38. Phillips 66 has a twelve month low of $108.90 and a twelve month high of $174.08. The business has a 50 day moving average price of $122.91 and a two-hundred day moving average price of $130.03. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX) last released its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.41. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The business had revenue of $36.16 billion during the quarter, compared to analysts’ expectations of $36.31 billion. During the same period last year, the business earned $4.63 earnings per share. The firm’s revenue was down 10.3% on a year-over-year basis. Analysts anticipate that Phillips 66 will post 7.22 EPS for the current fiscal year.

Institutional Investors Weigh In On Phillips 66

Institutional investors have recently made changes to their positions in the stock. nVerses Capital LLC bought a new stake in shares of Phillips 66 during the 3rd quarter valued at $26,000. Values First Advisors Inc. acquired a new position in Phillips 66 in the third quarter valued at about $30,000. Point72 Hong Kong Ltd bought a new stake in Phillips 66 during the third quarter worth about $40,000. Strategic Investment Solutions Inc. IL bought a new stake in Phillips 66 during the second quarter worth about $51,000. Finally, Hoese & Co LLP grew its stake in Phillips 66 by 33.1% during the third quarter. Hoese & Co LLP now owns 402 shares of the oil and gas company’s stock worth $53,000 after buying an additional 100 shares in the last quarter. 76.93% of the stock is currently owned by 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.