Barclays Cuts Phillips 66 (NYSE:PSX) Price Target to $115.00

Phillips 66 (NYSE:PSX) had its price objective trimmed by Barclays from $124.00 to $115.00 in a report issued on Monday morning,Benzinga reports. The brokerage currently has an equal weight rating on the oil and gas company’s stock.

Other research analysts have also recently issued reports about the company. Scotiabank decreased their price target on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price on the stock in a research note on Friday, January 3rd. JPMorgan Chase & Co. dropped their target price on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. Bank of America began coverage on shares of Phillips 66 in a research report on Thursday, October 17th. They set a “buy” rating and a $156.00 price target on the stock. Finally, Morgan Stanley dropped their price objective on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $147.93.

Phillips 66 Stock Up 1.5 %

Shares of NYSE:PSX opened at $119.04 on Monday. The company has a market capitalization of $49.16 billion, a price-to-earnings ratio of 15.28, a PEG ratio of 4.06 and a beta of 1.38. Phillips 66 has a 12-month low of $108.90 and a 12-month high of $174.08. The business has a 50-day moving average price of $122.91 and a 200 day moving average price of $130.03. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.41. The business had revenue of $36.16 billion for the quarter, compared to the consensus estimate of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The business’s revenue was down 10.3% on a year-over-year basis. During the same period in the previous year, the firm earned $4.63 EPS. Sell-side analysts expect that Phillips 66 will post 7.56 EPS for the current year.

Institutional Trading of Phillips 66

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. American Century Companies Inc. increased its holdings in shares of Phillips 66 by 3.9% in the 2nd quarter. American Century Companies Inc. now owns 309,478 shares of the oil and gas company’s stock valued at $43,689,000 after acquiring an additional 11,711 shares during the last quarter. Federated Hermes Inc. increased its stake in Phillips 66 by 62.0% in the second quarter. Federated Hermes Inc. now owns 85,219 shares of the oil and gas company’s stock valued at $12,030,000 after purchasing an additional 32,623 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Phillips 66 by 3.2% during the second quarter. Dimensional Fund Advisors LP now owns 3,643,264 shares of the oil and gas company’s stock worth $514,253,000 after purchasing an additional 111,261 shares in the last quarter. Sierra Summit Advisors LLC purchased a new stake in shares of Phillips 66 during the 2nd quarter worth approximately $6,262,000. Finally, Citizens Financial Group Inc. RI boosted its holdings in shares of Phillips 66 by 68.2% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 3,692 shares of the oil and gas company’s stock valued at $521,000 after buying an additional 1,497 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

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.