Phillips 66 (NYSE:PSX) Given New $145.00 Price Target at Raymond James Financial

Phillips 66 (NYSE:PSX) had its target price lifted by analysts at Raymond James Financial from $142.00 to $145.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the oil and gas company’s stock. Raymond James Financial’s price target would suggest a potential upside of 8.88% from the stock’s previous close.

Other equities analysts have also issued reports about the stock. Barclays raised their target price on shares of Phillips 66 from $115.00 to $127.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 9th. Compass Point began coverage on shares of Phillips 66 in a report on Wednesday, June 18th. They set a “buy” rating on the stock. Bank of America lowered shares of Phillips 66 from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $144.00 to $147.00 in a report on Wednesday, September 3rd. Scotiabank restated a “sector perform” rating and issued a $133.00 target price on shares of Phillips 66 in a research note on Friday, July 11th. Finally, TD Cowen boosted their target price on shares of Phillips 66 from $130.00 to $134.00 and gave the company a “buy” rating in a research report on Monday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $135.80.

Phillips 66 Trading Up 2.3%

Shares of NYSE:PSX traded up $2.96 during trading on Tuesday, reaching $133.17. The company’s stock had a trading volume of 1,069,030 shares, compared to its average volume of 3,246,264. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.60. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $140.60. The firm’s 50 day simple moving average is $126.47 and its two-hundred day simple moving average is $119.35. The stock has a market capitalization of $53.82 billion, a PE ratio of 31.99, a price-to-earnings-growth ratio of 2.05 and a beta of 1.15.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Friday, July 25th. The oil and gas company reported $2.38 EPS for the quarter, beating analysts’ consensus estimates of $1.79 by $0.59. The firm had revenue of $33.77 billion during the quarter, compared to the consensus estimate of $32.11 billion. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. During the same quarter last year, the firm earned $2.31 EPS. On average, research analysts predict that Phillips 66 will post 6.8 EPS for the current fiscal year.

Insider Activity

In other news, Director Sigmund L. Cornelius acquired 500 shares of the firm’s stock in a transaction dated Thursday, July 31st. The stock was acquired at an average cost of $123.55 per share, with a total value of $61,775.00. Following the transaction, the director owned 21,543 shares in the company, valued at approximately $2,661,637.65. This trade represents a 2.38% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Gregory Hayes acquired 8,350 shares of the firm’s stock in a transaction dated Thursday, August 14th. The shares were purchased at an average cost of $119.90 per share, with a total value of $1,001,165.00. Following the completion of the transaction, the director owned 29,423 shares in the company, valued at approximately $3,527,817.70. The trade was a 39.62% increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 9,850 shares of company stock worth $1,188,910 in the last three months. 0.22% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of PSX. Vanguard Group Inc. increased its stake in shares of Phillips 66 by 14.8% during the second quarter. Vanguard Group Inc. now owns 46,368,000 shares of the oil and gas company’s stock worth $5,531,702,000 after acquiring an additional 5,978,841 shares during the period. Elliott Investment Management L.P. grew its position in Phillips 66 by 22.4% during the second quarter. Elliott Investment Management L.P. now owns 19,251,000 shares of the oil and gas company’s stock worth $2,296,644,000 after buying an additional 3,526,000 shares during the period. Geode Capital Management LLC grew its position in shares of Phillips 66 by 17.4% in the second quarter. Geode Capital Management LLC now owns 10,327,304 shares of the oil and gas company’s stock valued at $1,226,815,000 after purchasing an additional 1,532,967 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Phillips 66 by 6.1% in the second quarter. Bank of New York Mellon Corp now owns 9,394,750 shares of the oil and gas company’s stock valued at $1,120,794,000 after purchasing an additional 537,245 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Phillips 66 by 11.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,709,108 shares of the oil and gas company’s stock valued at $828,442,000 after purchasing an additional 682,459 shares during 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.