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

Phillips 66 (NYSE:PSX - Get Free Report) had its target price boosted by research analysts at Barclays from $115.00 to $127.00 in a report released on Wednesday,Benzinga reports. The firm currently has an "equal weight" rating on the oil and gas company's stock. Barclays's price objective points to a potential downside of 5.48% from the stock's previous close.

Several other research firms have also weighed in on PSX. Raymond James Financial reduced their price target on shares of Phillips 66 from $150.00 to $140.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. Wall Street Zen upgraded shares of Phillips 66 from a "sell" rating to a "hold" rating in a research report on Monday, April 28th. Cantor Fitzgerald started coverage on shares of Phillips 66 in a research note on Wednesday, June 18th. They issued a "neutral" rating on the stock. Scotiabank lowered their target price on shares of Phillips 66 from $136.00 to $133.00 and set a "sector outperform" rating on the stock in a research note on Friday, April 11th. Finally, TD Cowen upped their price objective on shares of Phillips 66 from $114.00 to $120.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. Eight analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $135.07.

Phillips 66 Stock Up 3.0%

PSX traded up $3.86 during trading on Wednesday, hitting $134.37. 2,710,093 shares of the company's stock were exchanged, compared to its average volume of 3,560,435. The company has a quick ratio of 0.88, a current ratio of 1.23 and a debt-to-equity ratio of 0.63. The business's 50 day moving average is $118.36 and its two-hundred day moving average is $117.43. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $150.12. The stock has a market cap of $54.75 billion, a P/E ratio of 30.61, a PEG ratio of 2.04 and a beta of 1.02.

Phillips 66 (NYSE:PSX - Get Free Report) last announced its earnings results on Friday, April 25th. The oil and gas company reported ($0.90) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.97). The firm had revenue of $31.92 billion during the quarter, compared to analysts' expectations of $31.93 billion. Phillips 66 had a net margin of 1.32% and a return on equity of 4.83%. During the same quarter in the prior year, the company earned $1.90 EPS. As a group, equities analysts expect that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Robert W. Pease acquired 439 shares of the firm's stock in a transaction dated Thursday, May 22nd. The stock was purchased at an average cost of $113.85 per share, with a total value of $49,980.15. Following the completion of the acquisition, the director directly owned 4,091 shares of the company's stock, valued at approximately $465,760.35. This trade represents a 12.02% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Brian Mandell sold 9,800 shares of the business's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $125.00, for a total transaction of $1,225,000.00. Following the transaction, the executive vice president directly owned 56,838 shares of the company's stock, valued at $7,104,750. The trade was a 14.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.22% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Phillips 66

Several hedge funds and other institutional investors have recently made changes to their positions in the business. von Borstel & Associates Inc. purchased a new stake in Phillips 66 during the 1st quarter valued at approximately $27,000. Olde Wealth Management LLC purchased a new position in Phillips 66 in the first quarter valued at about $28,000. Opal Wealth Advisors LLC purchased a new stake in shares of Phillips 66 during the first quarter worth about $29,000. Pacific Center for Financial Services purchased a new stake in shares of Phillips 66 during the fourth quarter worth about $27,000. Finally, Smallwood Wealth Investment Management LLC purchased a new stake in shares of Phillips 66 during the first quarter worth about $29,000. Hedge funds and other institutional investors own 76.93% of the company's stock.

About Phillips 66

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.