Phillips 66 (NYSE:PSX) Stock Price Expected to Rise, Wolfe Research Analyst Says

Phillips 66 (NYSE:PSX) had its target price boosted by research analysts at Wolfe Research from $187.00 to $193.00 in a report released on Monday,MarketScreener reports. The brokerage currently has an “outperform” rating on the oil and gas company’s stock. Wolfe Research’s price objective suggests a potential upside of 9.70% from the stock’s previous close.

A number of other equities research analysts also recently commented on the company. Citigroup increased their price objective on Phillips 66 from $146.00 to $159.00 and gave the company a “neutral” rating in a research report on Monday, February 9th. Mizuho boosted their target price on Phillips 66 from $152.00 to $170.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 17th. Wall Street Zen raised Phillips 66 from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 14th. Wells Fargo & Company increased their price target on Phillips 66 from $163.00 to $201.00 and gave the company an “overweight” rating in a research report on Tuesday, March 31st. Finally, BMO Capital Markets restated an “outperform” rating and set a $170.00 price objective on shares of Phillips 66 in a report on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $173.39.

Phillips 66 Stock Performance

PSX opened at $175.94 on Monday. The business has a 50 day moving average price of $163.10 and a two-hundred day moving average price of $145.11. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.30 and a quick ratio of 0.91. The company has a market capitalization of $70.51 billion, a price-to-earnings ratio of 16.26, a price-to-earnings-growth ratio of 0.31 and a beta of 0.76. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $190.61.

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

Insider Buying and Selling at Phillips 66

In related news, Director Kevin Omar Meyers purchased 175 shares of Phillips 66 stock in a transaction that occurred on Tuesday, March 17th. The shares were acquired at an average price of $173.20 per share, for a total transaction of $30,310.00. Following the transaction, the director directly owned 16,624 shares in the company, valued at approximately $2,879,276.80. This represents a 1.06% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Lisa Ann Davis sold 3,800 shares of the stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $174.37, for a total value of $662,606.00. Following the sale, the director directly owned 8,701 shares of the company’s stock, valued at approximately $1,517,193.37. The trade was a 30.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 100,317 shares of company stock worth $17,036,749 in the last 90 days. 0.22% of the stock is currently owned by insiders.

Institutional Trading of Phillips 66

A number of institutional investors and hedge funds have recently made changes to their positions in PSX. Brighton Jones LLC boosted its stake in Phillips 66 by 238.5% in the fourth quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company’s stock valued at $1,166,000 after buying an additional 7,214 shares in the last quarter. Woodline Partners LP increased its holdings in Phillips 66 by 40.7% in the 1st quarter. Woodline Partners LP now owns 34,891 shares of the oil and gas company’s stock worth $4,308,000 after purchasing an additional 10,089 shares in the last quarter. Marshall Wace LLP raised its position in Phillips 66 by 44.8% in the second quarter. Marshall Wace LLP now owns 204,320 shares of the oil and gas company’s stock valued at $24,375,000 after purchasing an additional 63,182 shares during the last quarter. Brown Advisory Inc. raised its position in Phillips 66 by 0.3% in the second quarter. Brown Advisory Inc. now owns 57,439 shares of the oil and gas company’s stock valued at $6,852,000 after purchasing an additional 145 shares during the last quarter. Finally, Cresset Asset Management LLC boosted its stake in shares of Phillips 66 by 5.8% during the second quarter. Cresset Asset Management LLC now owns 20,182 shares of the oil and gas company’s stock valued at $2,408,000 after purchasing an additional 1,107 shares in the last quarter. 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.