Phillips 66 (NYSE:PSX) Price Target Raised to $183.00 at Barclays

Phillips 66 (NYSE:PSX) had its price target boosted by Barclays from $177.00 to $183.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the oil and gas company’s stock. Barclays‘s price objective indicates a potential downside of 2.94% from the stock’s current price.

PSX has been the topic of several other research reports. Piper Sandler lifted their price target on shares of Phillips 66 from $168.00 to $177.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 8th. Wall Street Zen raised Phillips 66 from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 13th. Zacks Research downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Monday. Mizuho raised Phillips 66 from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $170.00 to $212.00 in a report on Wednesday, May 27th. Finally, Argus upped their price target on Phillips 66 from $185.00 to $197.00 and gave the stock a “buy” rating in a research report on Thursday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $193.06.

Phillips 66 Price Performance

NYSE PSX opened at $188.55 on Thursday. Phillips 66 has a 52 week low of $118.07 and a 52 week high of $190.61. The firm has a market capitalization of $75.60 billion, a P/E ratio of 18.61, a PEG ratio of 0.24 and a beta of 0.69. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.63. The company has a 50-day moving average price of $175.58 and a 200-day moving average price of $162.35.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.54) by $1.03. The company had revenue of $32.54 billion for the quarter, compared to the consensus estimate of $35.86 billion. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. The firm’s revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.90) earnings per share. Equities research analysts anticipate that Phillips 66 will post 19.27 earnings per share for the current year.

Insider Activity at Phillips 66

In other Phillips 66 news, CFO Kevin J. Mitchell sold 29,400 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $170.00, for a total value of $4,998,000.00. Following the completion of the transaction, the chief financial officer directly owned 97,376 shares in the company, valued at $16,553,920. This represents a 23.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kevin Omar Meyers bought 175 shares of the company’s stock in a transaction that occurred on Wednesday, May 6th. The shares were bought at an average price of $173.12 per share, with a total value of $30,296.00. Following the transaction, the director owned 16,799 shares of the company’s stock, valued at $2,908,242.88. The trade was a 1.05% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 0.40% of the company’s stock.

Institutional Investors Weigh In On Phillips 66

Several large investors have recently made changes to their positions in the company. Board of the Pension Protection Fund purchased a new position in Phillips 66 during the 4th quarter valued at approximately $26,000. Accordant Advisory Group Inc grew its holdings in shares of Phillips 66 by 900.0% in the fourth quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 180 shares in the last quarter. Eagle Bay Advisors LLC purchased a new position in shares of Phillips 66 in the fourth quarter valued at $27,000. NFSG Corp increased its position in Phillips 66 by 105.6% in the first quarter. NFSG Corp now owns 146 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 75 shares during the last quarter. Finally, Axiom Investment Management LLC purchased a new stake in Phillips 66 during the first quarter valued at $27,000. 76.93% of the stock is owned by institutional investors.

Key Headlines Impacting Phillips 66

Here are the key news stories impacting Phillips 66 this week:

• Positive Sentiment: Crude oil prices surged after U.S. strikes on Iran and renewed threats of escalation raised supply concerns, which has supported energy stocks including Phillips 66. Phillips 66 (PSX) Could Be 3% Undervalued After Oil Spiked On Middle East Tensions
• Positive Sentiment: Tighter U.S. gasoline supplies and improving refining margins are boosting investor expectations for Phillips 66’s near-term earnings power. Phillips 66 Gains as Strong Fuel-Margin Backdrop Lifts Refiners
• Neutral Sentiment: Phillips 66 was mentioned in market commentary as potentially 3% undervalued, suggesting valuation support rather than a company-specific catalyst. Phillips 66 (PSX) Could Be 3% Undervalued After Oil Spiked On Middle East Tensions
• Negative Sentiment: Phillips 66 was downgraded by Zacks Research from “strong-buy” to “hold,” which could temper enthusiasm after the recent rally. Zacks.com

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.