Phillips 66 (NYSE:PSX) Price Target Cut to $147.00 by Analysts at Barclays

Phillips 66 (NYSE:PSX) had its price objective lowered by stock analysts at Barclays from $155.00 to $147.00 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the oil and gas company’s stock. Barclays‘s price objective points to a potential upside of 4.87% from the stock’s previous close.

Several other analysts have also recently weighed in on the stock. Raymond James raised their target price on shares of Phillips 66 from $140.00 to $155.00 and gave the company an “outperform” rating in a report on Thursday, February 1st. Scotiabank lifted their price objective on shares of Phillips 66 from $148.00 to $156.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 11th. Bank of America increased their target price on Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a report on Friday, March 15th. Wells Fargo & Company lifted their price target on Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Finally, Citigroup started coverage on Phillips 66 in a report on Wednesday, January 24th. They issued a “buy” rating on the stock. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $157.43.

Phillips 66 Stock Performance

NYSE:PSX opened at $140.17 on Tuesday. The company has a market cap of $59.97 billion, a price-to-earnings ratio of 10.78, a price-to-earnings-growth ratio of 1.83 and a beta of 1.37. The company has a quick ratio of 1.02, a current ratio of 1.26 and a debt-to-equity ratio of 0.56. Phillips 66 has a 52 week low of $89.74 and a 52 week high of $174.08. The company has a fifty day simple moving average of $155.67 and a two-hundred day simple moving average of $137.76.

Phillips 66 (NYSE:PSX) last released its earnings results on Friday, April 26th. The oil and gas company reported $1.90 EPS for the quarter, missing the consensus estimate of $2.05 by ($0.15). The company had revenue of $36.44 billion for the quarter, compared to analyst estimates of $35.87 billion. Phillips 66 had a return on equity of 19.07% and a net margin of 3.84%. During the same period in the previous year, the firm earned $4.21 earnings per share. As a group, equities analysts anticipate that Phillips 66 will post 13.77 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Richard G. Harbison sold 21,934 shares of Phillips 66 stock in a transaction on Monday, February 12th. The shares were sold at an average price of $146.27, for a total value of $3,208,286.18. Following the transaction, the executive vice president now directly owns 24,941 shares of the company’s stock, valued at approximately $3,648,120.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Robert W. Pease acquired 682 shares of Phillips 66 stock in a transaction on Thursday, February 15th. The stock was purchased at an average cost of $146.58 per share, with a total value of $99,967.56. Following the purchase, the director now directly owns 1,900 shares in the company, valued at $278,502. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Richard G. Harbison sold 21,934 shares of Phillips 66 stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $146.27, for a total value of $3,208,286.18. Following the completion of the transaction, the executive vice president now owns 24,941 shares in the company, valued at $3,648,120.07. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,056 shares of company stock valued at $5,272,681. 0.22% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Phillips 66

Several large investors have recently modified their holdings of the stock. Exchange Traded Concepts LLC boosted its holdings in shares of Phillips 66 by 3,825.0% in the third quarter. Exchange Traded Concepts LLC now owns 1,727 shares of the oil and gas company’s stock valued at $207,000 after acquiring an additional 1,683 shares in the last quarter. Commonwealth Equity Services LLC raised its stake in shares of Phillips 66 by 1.9% during the 3rd quarter. Commonwealth Equity Services LLC now owns 282,152 shares of the oil and gas company’s stock worth $33,901,000 after buying an additional 5,380 shares in the last quarter. Vicus Capital acquired a new stake in shares of Phillips 66 in the 3rd quarter valued at approximately $212,000. Kingswood Wealth Advisors LLC purchased a new stake in shares of Phillips 66 in the third quarter valued at approximately $629,000. Finally, Robeco Institutional Asset Management B.V. boosted its stake in shares of Phillips 66 by 78.8% in the third quarter. Robeco Institutional Asset Management B.V. now owns 237,097 shares of the oil and gas company’s stock valued at $28,487,000 after buying an additional 104,510 shares in the last quarter. 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.