Mizuho Trims Phillips 66 (NYSE:PSX) Target Price to $162.00

Phillips 66 (NYSE:PSX - Get Free Report) had its target price cut by stock analysts at Mizuho from $167.00 to $162.00 in a report released on Friday, Benzinga reports. The firm currently has a "neutral" rating on the oil and gas company's stock. Mizuho's price objective suggests a potential downside of 0.25% from the company's previous close.

Several other research analysts have also weighed in on the company. The Goldman Sachs Group upped their target price on Phillips 66 from $152.00 to $174.00 and gave the stock a "buy" rating in a research report on Friday, March 22nd. JPMorgan Chase & Co. raised their price target on Phillips 66 from $149.00 to $167.00 and gave the company an "overweight" rating in a report on Monday, April 1st. Scotiabank upped their price target on Phillips 66 from $148.00 to $156.00 and gave the company a "sector outperform" rating in a research note on Thursday. Citigroup began coverage on Phillips 66 in a research note on Wednesday, January 24th. They issued a "buy" rating for the company. Finally, Raymond James upped their price target on shares of Phillips 66 from $140.00 to $155.00 and gave the company an "outperform" rating in a report on Thursday, February 1st. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $156.86.

Phillips 66 Stock Performance

PSX stock traded down $3.00 during midday trading on Friday, reaching $162.41. The company had a trading volume of 2,001,822 shares, compared to its average volume of 3,076,133. The firm has a market capitalization of $69.48 billion, a PE ratio of 10.73, a P/E/G ratio of 2.07 and a beta of 1.37. Phillips 66 has a fifty-two week low of $89.74 and a fifty-two week high of $174.08. The company has a quick ratio of 1.02, a current ratio of 1.26 and a debt-to-equity ratio of 0.56. The stock has a 50 day moving average price of $153.03 and a 200 day moving average price of $133.76.

Phillips 66 (NYSE:PSX - Get Free Report) last released its earnings results on Wednesday, January 31st. The oil and gas company reported $3.09 earnings per share for the quarter, topping analysts' consensus estimates of $2.37 by $0.72. Phillips 66 had a return on equity of 22.10% and a net margin of 4.68%. The firm had revenue of $38.74 billion during the quarter, compared to the consensus estimate of $34.30 billion. Analysts anticipate that Phillips 66 will post 13.3 earnings per share for the current year.

Insider Buying and Selling

In other Phillips 66 news, Director Robert W. Pease bought 682 shares of the business's stock in a transaction that occurred on Thursday, February 15th. The shares were acquired at an average cost of $146.58 per share, for a total transaction of $99,967.56. Following the transaction, the director now directly owns 1,900 shares in the company, valued at $278,502. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Robert W. Pease purchased 682 shares of the company's stock in a transaction that occurred on Thursday, February 15th. The shares were acquired at an average cost of $146.58 per share, with a total value of $99,967.56. Following the purchase, the director now owns 1,900 shares in the company, valued at $278,502. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Joseph Scott Pruitt sold 5,922 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $157.40, for a total value of $932,122.80. Following the completion of the transaction, the vice president now owns 6,583 shares in the company, valued at $1,036,164.20. The disclosure for this sale can be found here. Insiders sold a total of 35,056 shares of company stock worth $5,272,681 in the last ninety days. 4.57% of the stock is owned by insiders.

Institutional Investors Weigh In On Phillips 66

A number of hedge funds have recently made changes to their positions in the business. First Capital Advisors Group LLC. bought a new position in shares of Phillips 66 in the second quarter worth $25,000. Ables Iannone Moore & Associates Inc. bought a new stake in Phillips 66 in the fourth quarter valued at $27,000. Main Street Group LTD bought a new stake in Phillips 66 during the 4th quarter valued at approximately $28,000. First United Bank & Trust purchased a new position in shares of Phillips 66 during the 4th quarter worth approximately $31,000. Finally, Cornerstone Planning Group LLC raised its position in shares of Phillips 66 by 134.8% in the 3rd quarter. Cornerstone Planning Group LLC now owns 263 shares of the oil and gas company's stock worth $32,000 after acquiring an additional 151 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors.

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.