Phillips 66 (NYSE:PSX – Get Rating) had its price objective cut by equities researchers at Cowen to $96.00 in a note issued to investors on Tuesday, Stock Target Advisor reports. Cowen’s price objective would indicate a potential upside of 15.36% from the stock’s previous close.
PSX has been the subject of a number of other research reports. BMO Capital Markets started coverage on shares of Phillips 66 in a research report on Monday, June 13th. They set an “outperform” rating and a $132.00 price target for the company. Credit Suisse Group raised their price objective on Phillips 66 to $122.00 in a research note on Thursday, June 9th. StockNews.com cut Phillips 66 from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 10th. Piper Sandler cut their target price on Phillips 66 from $120.00 to $113.00 and set an “overweight” rating on the stock in a research note on Monday, September 12th. Finally, Barclays raised their target price on Phillips 66 from $95.00 to $113.00 and gave the company an “overweight” rating in a research note on Wednesday, July 6th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $107.00.
Phillips 66 Trading Up 1.6 %
Shares of PSX stock traded up $1.29 during trading hours on Tuesday, hitting $83.22. 3,481,899 shares of the company were exchanged, compared to its average volume of 4,045,032. The firm has a market cap of $40.03 billion, a PE ratio of 7.17, a PEG ratio of 0.41 and a beta of 1.39. Phillips 66 has a 1 year low of $63.56 and a 1 year high of $111.28. The company has a quick ratio of 1.02, a current ratio of 1.28 and a debt-to-equity ratio of 0.51. The firm has a fifty day moving average of $86.74 and a 200 day moving average of $88.32.
Phillips 66 (NYSE:PSX – Get Rating) last posted its quarterly earnings results on Friday, July 29th. The oil and gas company reported $6.77 EPS for the quarter, beating the consensus estimate of $5.92 by $0.85. Phillips 66 had a net margin of 3.59% and a return on equity of 29.60%. The firm had revenue of $49.31 billion for the quarter, compared to analyst estimates of $40.93 billion. During the same quarter last year, the firm posted $0.74 earnings per share. Phillips 66’s revenue for the quarter was up 76.8% compared to the same quarter last year. Analysts expect that Phillips 66 will post 16.22 earnings per share for the current year.
Institutional Investors Weigh In On Phillips 66
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. WFA of San Diego LLC bought a new position in Phillips 66 in the 2nd quarter worth approximately $25,000. Dravo Bay LLC bought a new stake in shares of Phillips 66 during the first quarter valued at approximately $26,000. GoalVest Advisory LLC bought a new stake in shares of Phillips 66 during the second quarter valued at approximately $28,000. Heritage Financial Services LLC bought a new stake in shares of Phillips 66 during the second quarter valued at approximately $28,000. Finally, First Community Trust NA grew its position in Phillips 66 by 60.6% in the first quarter. First Community Trust NA now owns 334 shares of the oil and gas company’s stock valued at $29,000 after acquiring an additional 126 shares during the period. 71.42% of the stock is currently owned by institutional investors and hedge funds.
Phillips 66 Company Profile
Phillips 66 operates as an energy manufacturing and logistics company. 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.