Phillips 66 (NYSE:PSX) Earns “Neutral” Rating from Piper Sandler

Phillips 66 (NYSE:PSX)‘s stock had its “neutral” rating restated by analysts at Piper Sandler in a research note issued on Thursday,Benzinga reports. They presently have a $208.00 target price on the oil and gas company’s stock. Piper Sandler’s target price would indicate a potential downside of 2.75% from the stock’s previous close.

Other equities analysts have also issued research reports about the stock. BMO Capital Markets lifted their price target on shares of Phillips 66 from $195.00 to $215.00 and gave the company an “outperform” rating in a research report on Wednesday, May 13th. Raymond James Financial lifted their target price on shares of Phillips 66 from $218.00 to $235.00 and gave the stock an “outperform” rating in a report on Monday, July 13th. Barclays boosted their target price on shares of Phillips 66 from $177.00 to $183.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 9th. Zacks Research cut shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Finally, JPMorgan Chase & Co. raised their price target on Phillips 66 from $188.00 to $202.00 in a research report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, Phillips 66 has a consensus rating of “Moderate Buy” and a consensus target price of $200.44.

Phillips 66 Price Performance

Shares of NYSE:PSX opened at $213.88 on Thursday. The stock has a market capitalization of $85.75 billion, a P/E ratio of 21.04, a P/E/G ratio of 0.28 and a beta of 0.69. The business has a 50-day moving average of $181.23 and a two-hundred day moving average of $167.47. Phillips 66 has a fifty-two week low of $118.07 and a fifty-two week high of $216.08. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.13 and a quick ratio of 0.85.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.54) by $1.03. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The business had revenue of $32.54 billion for the quarter, compared to the consensus estimate of $35.86 billion. During the same period last year, the business earned ($0.90) EPS. The firm’s revenue was up 6.9% compared to the same quarter last year. On average, equities research analysts predict that Phillips 66 will post 19.84 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Kevin Omar Meyers purchased 175 shares of the firm’s stock in a transaction on Wednesday, May 6th. The shares were bought at an average cost of $173.12 per share, for a total transaction of $30,296.00. Following the transaction, the director directly owned 16,799 shares of the company’s stock, valued at approximately $2,908,242.88. This trade represents a 1.05% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Kevin J. Mitchell sold 11,021 shares of the company’s stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $190.03, for a total transaction of $2,094,320.63. Following the transaction, the chief financial officer directly owned 97,376 shares of the company’s stock, valued at $18,504,361.28. This represents a 10.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 41,021 shares of company stock valued at $7,195,257. Insiders own 0.40% of the company’s stock.

Institutional Trading of Phillips 66

Institutional investors and hedge funds have recently modified their holdings of the company. Brighton Jones LLC lifted its holdings in shares of Phillips 66 by 238.5% during the 4th quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company’s stock worth $1,166,000 after acquiring an additional 7,214 shares during the period. Woodline Partners LP raised its position in Phillips 66 by 40.7% in the first 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. Sei Investments Co. lifted its stake in Phillips 66 by 28.3% during the second quarter. Sei Investments Co. now owns 157,455 shares of the oil and gas company’s stock worth $18,788,000 after purchasing an additional 34,698 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Phillips 66 by 9.1% during the second quarter. The Manufacturers Life Insurance Company now owns 346,679 shares of the oil and gas company’s stock valued at $41,359,000 after purchasing an additional 28,988 shares in the last quarter. Finally, Glenview Trust co boosted its holdings in Phillips 66 by 2.6% during the second quarter. Glenview Trust co now owns 8,949 shares of the oil and gas company’s stock valued at $1,068,000 after purchasing an additional 229 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors.

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.