Wells Fargo & Company Lowers Phillips 66 (NYSE:PSX) Price Target to $149.00

Phillips 66 (NYSE:PSX) had its price objective dropped by research analysts at Wells Fargo & Company from $162.00 to $149.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the oil and gas company’s stock. Wells Fargo & Company‘s target price points to a potential upside of 41.97% from the company’s current price.

Other research analysts have also issued research reports about the stock. Wolfe Research upgraded shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target for the company in a report on Friday, January 3rd. StockNews.com downgraded Phillips 66 from a “hold” rating to a “sell” rating in a research note on Sunday, March 2nd. Morgan Stanley decreased their target price on Phillips 66 from $140.00 to $122.00 and set an “equal weight” rating for the company in a research note on Thursday. Mizuho dropped their price target on Phillips 66 from $140.00 to $132.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 9th. Finally, Piper Sandler lowered shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $136.93.

Phillips 66 Trading Up 0.9 %

NYSE PSX traded up $0.98 on Monday, hitting $104.95. The company’s stock had a trading volume of 114,847 shares, compared to its average volume of 2,889,805. The firm has a market cap of $42.76 billion, a PE ratio of 21.24, a PEG ratio of 4.84 and a beta of 1.17. The company’s 50-day moving average is $115.80 and its 200 day moving average is $121.04. 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 has a 1-year low of $91.01 and a 1-year high of $152.19.

Phillips 66 (NYSE:PSX) last announced its earnings results on Friday, April 25th. The oil and gas company reported ($0.90) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.97). The company had revenue of $31.92 billion for the quarter, compared to analyst estimates of $31.93 billion. Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. During the same period in the previous year, the firm posted $1.90 earnings per share. As a group, analysts predict that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Phillips 66

Hedge funds and other institutional investors have recently modified their holdings of the business. Morse Asset Management Inc purchased a new stake in shares of Phillips 66 during the 3rd quarter valued at $493,000. Invst LLC increased its holdings in Phillips 66 by 2.4% during the third quarter. Invst LLC now owns 6,201 shares of the oil and gas company’s stock worth $815,000 after buying an additional 145 shares during the last quarter. Advisory Resource Group raised its position in Phillips 66 by 4.3% in the third quarter. Advisory Resource Group now owns 241,527 shares of the oil and gas company’s stock worth $31,749,000 after acquiring an additional 9,930 shares during the period. World Investment Advisors LLC purchased a new position in Phillips 66 in the third quarter valued at about $796,000. Finally, Arvest Bank Trust Division purchased a new stake in shares of Phillips 66 during the 3rd quarter worth approximately $1,008,000. 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.