Phillips 66 (NYSE:PSX) Given New $127.00 Price Target at Barclays

Phillips 66 (NYSE:PSX - Get Free Report) had its price target increased by equities research analysts at Barclays from $115.00 to $127.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the oil and gas company's stock. Barclays's price objective indicates a potential downside of 2.86% from the stock's previous close.

Other analysts have also issued reports about the company. JPMorgan Chase & Co. set a $115.00 price objective on Phillips 66 in a report on Wednesday, June 18th. Morgan Stanley decreased their price target on Phillips 66 from $140.00 to $122.00 and set an "equal weight" rating for the company in a research report on Thursday, April 24th. Scotiabank decreased their price target on Phillips 66 from $136.00 to $133.00 and set a "sector outperform" rating for the company in a research report on Friday, April 11th. The Goldman Sachs Group downgraded Phillips 66 from a "buy" rating to a "neutral" rating and set a $132.00 price target for the company. in a research report on Thursday, March 27th. Finally, Cantor Fitzgerald initiated coverage on Phillips 66 in a research report on Wednesday, June 18th. They set a "neutral" rating for the company. Eight analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $134.79.

Phillips 66 Stock Up 0.6%

PSX traded up $0.74 during midday trading on Wednesday, reaching $130.74. 3,160,573 shares of the company were exchanged, compared to its average volume of 3,117,642. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.88 and a current ratio of 1.23. The company's fifty day moving average price is $117.83 and its 200 day moving average price is $117.34. The company has a market cap of $53.27 billion, a price-to-earnings ratio of 29.78, a price-to-earnings-growth ratio of 2.04 and a beta of 1.02. Phillips 66 has a one year low of $91.01 and a one year high of $150.12.

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

Insider Transactions at Phillips 66

In other news, EVP Vanessa Allen Sutherland sold 4,393 shares of the stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $130.00, for a total transaction of $571,090.00. Following the completion of the transaction, the executive vice president owned 43,373 shares in the company, valued at approximately $5,638,490. This represents a 9.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Brian Mandell sold 9,800 shares of the stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $125.00, for a total value of $1,225,000.00. Following the transaction, the executive vice president owned 56,838 shares of the company's stock, valued at $7,104,750. The trade was a 14.71% decrease in their position. The disclosure for this sale can be found here. 0.22% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Elliott Investment Management L.P. lifted its holdings in Phillips 66 by 1,929.0% during the 1st quarter. Elliott Investment Management L.P. now owns 15,725,000 shares of the oil and gas company's stock worth $1,941,723,000 after purchasing an additional 14,950,000 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Phillips 66 by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 8,530,242 shares of the oil and gas company's stock worth $968,844,000 after purchasing an additional 82,758 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Phillips 66 by 11.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,709,108 shares of the oil and gas company's stock worth $828,442,000 after purchasing an additional 682,459 shares in the last quarter. Invesco Ltd. lifted its holdings in Phillips 66 by 15.9% during the 1st quarter. Invesco Ltd. now owns 4,765,866 shares of the oil and gas company's stock worth $588,489,000 after purchasing an additional 653,248 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in Phillips 66 by 10.6% during the 4th quarter. Northern Trust Corp now owns 4,589,079 shares of the oil and gas company's stock worth $522,834,000 after purchasing an additional 440,107 shares in the last quarter. Institutional investors own 76.93% of the company's stock.

Phillips 66 Company Profile

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.