Barclays Boosts Phillips 66 (NYSE:PSX) Price Target to $183.00

Phillips 66 (NYSE:PSX) had its price target upped by Barclays from $177.00 to $183.00 in a research note issued on Thursday, Marketbeat Ratings reports. The firm currently has an “equal weight” rating on the oil and gas company’s stock. Barclays‘s price objective points to a potential downside of 2.96% from the company’s current price.

A number of other equities research analysts have also weighed in on PSX. Weiss Ratings lowered Phillips 66 from a “buy (b-)” rating to a “hold (c)” rating in a research report on Friday, May 1st. Mizuho raised shares of Phillips 66 from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $170.00 to $212.00 in a research note on Wednesday, May 27th. The Goldman Sachs Group increased their target price on shares of Phillips 66 from $192.00 to $207.00 and gave the stock a “neutral” rating in a report on Tuesday, May 19th. Piper Sandler boosted their price target on shares of Phillips 66 from $168.00 to $177.00 and gave the company a “neutral” rating in a report on Wednesday, April 8th. Finally, JPMorgan Chase & Co. upped their price target on shares of Phillips 66 from $188.00 to $202.00 in a research report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $193.94.

Phillips 66 Price Performance

Shares of PSX stock opened at $188.59 on Thursday. The company has a market capitalization of $75.61 billion, a P/E ratio of 18.58, a P/E/G ratio of 0.26 and a beta of 0.69. The company’s 50-day simple moving average is $176.38 and its two-hundred day simple moving average is $162.96. Phillips 66 has a one year low of $118.07 and a one year high of $193.04. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.13 and a quick ratio of 0.85.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, beating the consensus estimate of ($0.54) by $1.03. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. The firm had revenue of $32.54 billion during the quarter, compared to the consensus estimate of $35.86 billion. During the same quarter in the previous year, the firm posted ($0.90) earnings per share. The company’s revenue was up 6.9% on a year-over-year basis. As a group, equities analysts anticipate that Phillips 66 will post 19.3 EPS for the current year.

Insiders Place Their Bets

In other Phillips 66 news, CFO Kevin J. Mitchell sold 600 shares of Phillips 66 stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $171.56, for a total transaction of $102,936.00. Following the completion of the sale, the chief financial officer owned 97,376 shares of the company’s stock, valued at approximately $16,705,826.56. The trade was a 0.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kevin Omar Meyers purchased 175 shares of the company’s stock in a transaction on Wednesday, May 6th. The shares were purchased at an average price of $173.12 per share, for a total transaction of $30,296.00. Following the purchase, the director owned 16,799 shares in the company, valued at approximately $2,908,242.88. The trade was a 1.05% increase in their position. The SEC filing for this purchase provides additional information. 0.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Phillips 66

A number of institutional investors and hedge funds have recently modified their holdings of PSX. Board of the Pension Protection Fund acquired a new position in shares of Phillips 66 in the 4th quarter valued at about $26,000. Accordant Advisory Group Inc grew its holdings in Phillips 66 by 900.0% during the fourth quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 180 shares during the period. Eagle Bay Advisors LLC purchased a new position in Phillips 66 during the fourth quarter valued at approximately $27,000. NFSG Corp lifted its holdings in Phillips 66 by 105.6% in the first quarter. NFSG Corp now owns 146 shares of the oil and gas company’s stock valued at $27,000 after acquiring an additional 75 shares during the period. Finally, Axiom Investment Management LLC purchased a new stake in Phillips 66 in the 1st quarter worth approximately $27,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Trending Headlines about Phillips 66

Here are the key news stories impacting Phillips 66 this week:

• Positive Sentiment: Phillips 66 announced a quarterly dividend of $1.27 per share, reinforcing its income appeal for investors and signaling continued shareholder returns. Phillips 66 Announces Quarterly Dividend
• Positive Sentiment: Recent commentary noted that higher crude prices and renewed Middle East tensions could support refining margins and help Phillips 66, since the company can benefit when fuel spreads remain favorable. What Do Renewed Middle East Tensions Mean for Phillips 66’s Business?
• Positive Sentiment: Analysts highlighted Phillips 66 as a momentum name, and the stock has been outperforming broader market moves, which can attract additional buying interest. Why Phillips 66 (PSX) is a top momentum stock for the long term
• Neutral Sentiment: Barclays raised its price target on Phillips 66 to $183 from $177 but kept an equal-weight rating, suggesting a modestly cautious stance rather than a strong bullish call. Phillips 66 (NYSE:PSX) Given New $183.00 Price Target at Barclays
• Neutral Sentiment: Coverage also focused on analysts’ views and dividend-related news, which supports investor attention but does not materially change the company’s operating outlook by itself. Analysts Offer Insights on Energy Companies: Exxon Mobil (XOM) and Phillips 66 (PSX)
• Negative Sentiment: One market update said Phillips 66 was set to snap a six-session winning streak, indicating some near-term cooling after the recent rally. Phillips 66 set to snap six straight sessions of gains

Phillips 66 Company Profile

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.