Wall Street Zen Upgrades Phillips 66 (NYSE:PSX) to Buy

Phillips 66 (NYSE:PSX) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Saturday.

Several other research analysts have also commented on the company. Mizuho lifted their target price on Phillips 66 from $150.00 to $152.00 and gave the stock a “neutral” rating in a research report on Monday, January 12th. TD Cowen reaffirmed a “buy” rating on shares of Phillips 66 in a report on Friday, February 6th. Scotiabank reiterated a “sector perform” rating and set a $140.00 target price on shares of Phillips 66 in a research note on Friday, January 16th. Barclays set a $158.00 price target on shares of Phillips 66 in a research report on Friday, February 20th. Finally, Morgan Stanley lifted their price target on shares of Phillips 66 from $140.00 to $147.00 and gave the company an “equal weight” rating in a report on Thursday, February 5th. Eleven investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $160.11.

Phillips 66 Price Performance

Shares of PSX stock opened at $153.91 on Friday. The firm has a fifty day moving average of $144.05 and a two-hundred day moving average of $137.37. The firm has a market cap of $61.68 billion, a P/E ratio of 14.22, a P/E/G ratio of 0.54 and a beta of 0.86. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $163.79. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.30 and a quick ratio of 0.91.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 EPS for the quarter, topping the consensus estimate of $2.15 by $0.32. The business had revenue of $32.16 billion for the quarter, compared to analysts’ expectations of $33.81 billion. Phillips 66 had a net margin of 3.22% and a return on equity of 9.13%. During the same quarter last year, the company posted ($0.15) earnings per share. As a group, research analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Insider Transactions at Phillips 66

In related news, EVP Vanessa Allen Sutherland sold 4,394 shares of the business’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $150.00, for a total transaction of $659,100.00. Following the sale, the executive vice president owned 25,799 shares of the company’s stock, valued at $3,869,850. The trade was a 14.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Don Baldridge sold 7,500 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $160.00, for a total value of $1,200,000.00. Following the completion of the sale, the executive vice president owned 38,488 shares of the company’s stock, valued at $6,158,080. This trade represents a 16.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 16,288 shares of company stock worth $2,496,230 over the last 90 days. 0.22% of the stock is owned by insiders.

Institutional Trading of Phillips 66

Hedge funds and other institutional investors have recently modified their holdings of the company. MidFirst Bank acquired a new position in Phillips 66 during the fourth quarter worth about $4,952,000. SG Trading Solutions LLC bought a new position in shares of Phillips 66 during the 4th quarter valued at about $206,000. Kera Capital Partners Inc. grew its stake in shares of Phillips 66 by 7.3% in the 4th quarter. Kera Capital Partners Inc. now owns 2,422 shares of the oil and gas company’s stock worth $313,000 after purchasing an additional 165 shares during the last quarter. MV Capital Management Inc. bought a new stake in shares of Phillips 66 in the 4th quarter worth approximately $286,000. Finally, Cambient Family Office LLC bought a new stake in shares of Phillips 66 in the 4th quarter worth approximately $204,000. Institutional investors own 76.93% of the company’s stock.

About Phillips 66

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.