Phillips 66 (NYSE:PSX) Given "Neutral" Rating at Piper Sandler

Key Points

• Piper Sandler reaffirmed its Neutral rating on Phillips 66 and kept a $208 price target, implying a slight downside from the current share price.
• Other analysts remain mixed but generally constructive: recent calls included price-target increases from JPMorgan, Wolfe Research, Goldman Sachs and Wells Fargo, while Mizuho upgraded the stock to Outperform. The consensus rating is Moderate Buy with an average price target of $200.44.
• Phillips 66 reported Q1 earnings of $0.49 per share, topping estimates, though revenue came in below expectations. The stock has also traded near its 52-week high, and insider activity included a director purchase and a CFO share sale.

Phillips 66 (NYSE:PSX - Get Free Report)'s stock had its "neutral" rating reaffirmed by equities research analysts at Piper Sandler in a research note issued to investors on Thursday,Benzinga reports. They presently have a $208.00 price target on the oil and gas company's stock. Piper Sandler's price objective would indicate a potential downside of 2.75% from the company's current price.

Several other equities analysts have also recently commented on PSX. JPMorgan Chase & Co. increased their price target on shares of Phillips 66 from $188.00 to $202.00 in a research report on Thursday, April 30th. Wolfe Research increased their target price on shares of Phillips 66 from $187.00 to $193.00 and gave the stock an "outperform" rating in a report on Monday, April 6th. Mizuho upgraded shares of Phillips 66 from a "neutral" rating to an "outperform" rating and raised their price target for the stock from $170.00 to $212.00 in a research report on Wednesday, May 27th. The Goldman Sachs Group lifted their price target on shares of Phillips 66 from $207.00 to $235.00 and gave the company a "neutral" rating in a report on Wednesday. Finally, Wells Fargo & Company boosted their price objective on shares of Phillips 66 from $163.00 to $201.00 and gave the company an "overweight" rating in a research report on Tuesday, March 31st. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $200.44.

Phillips 66 Stock Performance

Phillips 66 stock opened at $213.88 on Thursday. The stock's 50-day moving average is $181.23 and its 200-day moving average is $167.47. The company has a market cap of $85.75 billion, a price-to-earnings ratio of 21.04, a price-to-earnings-growth ratio of 0.28 and a beta of 0.69. Phillips 66 has a 12 month low of $118.07 and a 12 month 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 - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 EPS for the quarter, beating the consensus estimate of ($0.54) by $1.03. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. The firm had revenue of $32.54 billion for the quarter, compared to analyst estimates of $35.86 billion. During the same quarter last year, the firm posted ($0.90) earnings per share. Phillips 66's revenue for the quarter was up 6.9% compared to the same quarter last year. Equities analysts anticipate that Phillips 66 will post 19.84 earnings per share for the current year.

Insider Activity at Phillips 66

In other Phillips 66 news, Director Kevin Omar Meyers bought 175 shares of the business's stock in a transaction on Wednesday, May 6th. The shares were purchased at an average price of $173.12 per share, with a total value of $30,296.00. Following the purchase, the director directly owned 16,799 shares of the company's stock, valued at approximately $2,908,242.88. The trade was a 1.05% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Kevin J. Mitchell sold 11,021 shares of the stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $190.03, for a total value of $2,094,320.63. Following the completion of the transaction, the chief financial officer directly owned 97,376 shares of the company's stock, valued at approximately $18,504,361.28. The trade was 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. Insiders sold 41,021 shares of company stock worth $7,195,257 in the last 90 days. 0.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Phillips 66

Institutional investors and hedge funds have recently bought and sold shares of the stock. Key Client Fiduciary Advisors LLC increased its position in Phillips 66 by 3.5% in the 2nd quarter. Key Client Fiduciary Advisors LLC now owns 1,624 shares of the oil and gas company's stock worth $275,000 after purchasing an additional 55 shares during the last quarter. Threadgill Financial LLC increased its holdings in Phillips 66 by 3.5% in the second quarter. Threadgill Financial LLC now owns 1,693 shares of the oil and gas company's stock worth $286,000 after buying an additional 58 shares during the last quarter. Somerset Trust Co raised its position in Phillips 66 by 0.3% during the second quarter. Somerset Trust Co now owns 21,301 shares of the oil and gas company's stock valued at $3,601,000 after acquiring an additional 63 shares in the last quarter. Clifford Group LLC lifted its stake in Phillips 66 by 2.0% in the fourth quarter. Clifford Group LLC now owns 3,315 shares of the oil and gas company's stock valued at $428,000 after acquiring an additional 64 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC grew its position in Phillips 66 by 0.8% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 8,255 shares of the oil and gas company's stock worth $1,504,000 after acquiring an additional 65 shares in the last quarter. Institutional investors own 76.93% of the company's stock.

Phillips 66 Company Profile

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.

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