Phillips 66 (NYSE:PSX) Given New $133.00 Price Target at Jefferies Financial Group

Key Points

• Phillips 66 received an increased price target from Jefferies Financial Group, raising it from $130.00 to $133.00, indicating a potential downside of 0.60% from its previous close.
• The stock has garnered various ratings: one Strong Buy, eight Buys, and eleven Holds, with a current consensus rating of "Moderate Buy" and a target price of $136.44.
• In its latest quarterly earnings, Phillips 66 reported $2.38 earnings per share, exceeding analysts' expectations by $0.59, with revenue of $33.77 billion compared to forecasts of $32.11 billion.

Phillips 66 (NYSE:PSX - Get Free Report) had its price objective boosted by research analysts at Jefferies Financial Group from $130.00 to $133.00 in a research note issued to investors on Monday,MarketScreener reports. The brokerage currently has a "hold" rating on the oil and gas company's stock. Jefferies Financial Group's price target would suggest a potential downside of 0.60% from the stock's previous close.

Several other equities research analysts have also recently issued reports on PSX. JPMorgan Chase & Co. set a $115.00 price target on shares of Phillips 66 in a research note on Wednesday, June 18th. Morgan Stanley raised their price target on shares of Phillips 66 from $122.00 to $128.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 16th. Tudor Pickering lowered shares of Phillips 66 from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 22nd. Scotiabank reiterated a "sector perform" rating and set a $133.00 price objective on shares of Phillips 66 in a report on Friday, July 11th. Finally, Compass Point assumed coverage on shares of Phillips 66 in a report on Wednesday, June 18th. They set a "buy" rating on the stock. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $136.44.

Phillips 66 Trading Up 0.6%

PSX stock traded up $0.76 during trading on Monday, reaching $133.80. 743,708 shares of the stock were exchanged, compared to its average volume of 3,203,506. The business has a 50 day moving average price of $127.10 and a 200-day moving average price of $119.59. The firm has a market capitalization of $54.07 billion, a price-to-earnings ratio of 32.18, a P/E/G ratio of 1.96 and a beta of 1.15. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $140.60. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.60.

Phillips 66 (NYSE:PSX - Get Free Report) last announced its quarterly earnings data on Friday, July 25th. The oil and gas company reported $2.38 earnings per share for the quarter, beating analysts' consensus estimates of $1.79 by $0.59. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. The firm had revenue of $33.77 billion during the quarter, compared to analysts' expectations of $32.11 billion. During the same quarter in the previous year, the business posted $2.31 earnings per share. On average, research analysts predict that Phillips 66 will post 6.8 earnings per share for the current year.

Insider Transactions at Phillips 66

In other Phillips 66 news, EVP Vanessa Allen Sutherland sold 4,393 shares of the company's stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $135.00, for a total value of $593,055.00. Following the sale, the executive vice president directly owned 38,980 shares in the company, valued at $5,262,300. This represents a 10.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Gregory Hayes bought 8,350 shares of the business's stock in a transaction on Thursday, August 14th. The stock was bought at an average cost of $119.90 per share, for a total transaction of $1,001,165.00. Following the purchase, the director directly owned 29,423 shares of the company's stock, valued at approximately $3,527,817.70. This trade represents a 39.62% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 9,850 shares of company stock valued at $1,188,910. Company insiders own 0.22% of the company's stock.

Institutional Trading of Phillips 66

Several hedge funds have recently added to or reduced their stakes in PSX. Vanguard Group Inc. grew its position in Phillips 66 by 14.8% during the 2nd quarter. Vanguard Group Inc. now owns 46,368,000 shares of the oil and gas company's stock worth $5,531,702,000 after acquiring an additional 5,978,841 shares during the last quarter. Elliott Investment Management L.P. increased its position in shares of Phillips 66 by 22.4% during the second quarter. Elliott Investment Management L.P. now owns 19,251,000 shares of the oil and gas company's stock valued at $2,296,644,000 after acquiring an additional 3,526,000 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Phillips 66 by 17.4% during the second quarter. Geode Capital Management LLC now owns 10,327,304 shares of the oil and gas company's stock valued at $1,226,815,000 after acquiring an additional 1,532,967 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Phillips 66 by 6.1% during the second quarter. Bank of New York Mellon Corp now owns 9,394,750 shares of the oil and gas company's stock valued at $1,120,794,000 after purchasing an additional 537,245 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Phillips 66 by 11.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,709,108 shares of the oil and gas company's stock valued at $828,442,000 after buying an additional 682,459 shares during the period. 76.93% of the stock is owned by institutional investors and hedge funds.

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.

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