Barclays Lowers Phillips 66 (NYSE:PSX) Price Target to $106.00

Phillips 66 (NYSE:PSX) had its price objective cut by equities researchers at Barclays from $135.00 to $106.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the oil and gas company’s stock. Barclays‘s target price would suggest a potential upside of 9.02% from the stock’s current price.

Other analysts also recently issued research reports about the stock. The Goldman Sachs Group downgraded shares of Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 price target for the company. in a research note on Thursday, March 27th. Wells Fargo & Company upped their target price on Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Raymond James dropped their price target on Phillips 66 from $150.00 to $140.00 and set an “outperform” rating on the stock in a research report on Wednesday. StockNews.com downgraded Phillips 66 from a “hold” rating to a “sell” rating in a report on Sunday, March 2nd. Finally, Piper Sandler cut shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $142.00.

Phillips 66 Stock Performance

PSX stock opened at $97.23 on Thursday. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $166.47. The firm has a market cap of $39.64 billion, a price-to-earnings ratio of 19.68, a PEG ratio of 4.84 and a beta of 1.17. The business’s fifty day simple moving average is $120.96 and its two-hundred day simple moving average is $123.55. 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 posted its quarterly earnings results on Friday, January 31st. The oil and gas company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($1.38). Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. During the same quarter in the prior year, the firm earned $3.09 earnings per share. Analysts predict that Phillips 66 will post 6.8 earnings per share for the current year.

Institutional Trading of Phillips 66

Institutional investors have recently made changes to their positions in the business. Bogart Wealth LLC raised its stake in Phillips 66 by 120.0% in the fourth quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 120 shares during the last quarter. J.Safra Asset Management Corp acquired a new position in shares of Phillips 66 during the fourth quarter valued at about $25,000. Pacific Center for Financial Services purchased a new position in shares of Phillips 66 in the 4th quarter valued at approximately $27,000. Stephens Consulting LLC boosted its stake in Phillips 66 by 83.5% in the 4th quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 111 shares in the last quarter. Finally, Graney & King LLC purchased a new stake in Phillips 66 during the 4th quarter worth approximately $28,000. 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.