Piper Sandler Issues Positive Forecast for Phillips 66 (NYSE:PSX) Stock Price

Phillips 66 (NYSE:PSX) had its target price lifted by analysts at Piper Sandler from $159.00 to $170.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the oil and gas company’s stock. Piper Sandler’s target price suggests a potential upside of 18.86% from the stock’s current price.

Other equities analysts have also recently issued research reports about the company. Wall Street Zen raised Phillips 66 from a “hold” rating to a “buy” rating in a report on Saturday, November 1st. Bank of America cut Phillips 66 from a “buy” rating to a “neutral” rating and lifted their price target for the company from $144.00 to $147.00 in a research report on Wednesday, September 3rd. Morgan Stanley upped their price objective on Phillips 66 from $128.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Friday, October 3rd. Jefferies Financial Group raised their target price on Phillips 66 from $133.00 to $137.00 and gave the company a “hold” rating in a research report on Friday, October 10th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $150.00 price target (up previously from $145.00) on shares of Phillips 66 in a report on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and thirteen have given a Hold rating to the company. Based on data from MarketBeat.com, Phillips 66 has a consensus rating of “Hold” and an average price target of $144.25.

Phillips 66 Stock Performance

NYSE PSX traded up $3.53 during trading hours on Friday, reaching $143.03. The stock had a trading volume of 747,398 shares, compared to its average volume of 3,085,079. The stock has a fifty day moving average of $133.75 and a 200 day moving average of $125.65. The stock has a market cap of $57.63 billion, a P/E ratio of 39.06, a price-to-earnings-growth ratio of 1.81 and a beta of 1.08. Phillips 66 has a 52-week low of $91.01 and a 52-week high of $143.23. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.79 and a current ratio of 1.07.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Wednesday, October 29th. The oil and gas company reported $2.52 EPS for the quarter, beating the consensus estimate of $2.14 by $0.38. The business had revenue of $33.69 billion during the quarter, compared to analysts’ expectations of $32.29 billion. Phillips 66 had a net margin of 1.12% and a return on equity of 5.51%. During the same period in the previous year, the business posted $2.04 EPS. Sell-side analysts predict that Phillips 66 will post 6.8 earnings per share for the current year.

Insider Transactions at Phillips 66

In other Phillips 66 news, EVP Vanessa Allen Sutherland sold 4,393 shares of Phillips 66 stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $140.00, for a total value of $615,020.00. Following the completion of the transaction, the executive vice president directly owned 34,587 shares of the company’s stock, valued at $4,842,180. The trade was a 11.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Kevin J. Mitchell sold 30,000 shares of the stock in a transaction on Friday, November 7th. The shares were sold at an average price of $138.00, for a total value of $4,140,000.00. Following the completion of the sale, the chief financial officer owned 89,771 shares in the company, valued at approximately $12,388,398. The trade was a 25.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 38,786 shares of company stock valued at $5,348,075. Company insiders own 0.22% of the company’s stock.

Institutional Investors Weigh In On Phillips 66

Large investors have recently bought and sold shares of the stock. Evolution Wealth Management Inc. purchased a new stake in shares of Phillips 66 in the 2nd quarter valued at approximately $25,000. Wolff Wiese Magana LLC increased its position in Phillips 66 by 62.1% during the second quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock worth $26,000 after buying an additional 82 shares during the period. Pinpoint Asset Management Ltd acquired a new position in shares of Phillips 66 in the 1st quarter valued at $29,000. Webster Bank N. A. increased its stake in Phillips 66 by 58.8% in the second quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock valued at $32,000 after purchasing an additional 100 shares during the period. Finally, Pinpoint Asset Management Singapore Pte. Ltd. acquired a new stake in Phillips 66 during the 2nd quarter worth approximately $32,000. 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.