Phillips 66 (NYSE:PSX) Given New $191.00 Price Target at Jefferies Financial Group

Key Points

• Jefferies raised its price target on Phillips 66 from $173 to $191 while keeping a Hold rating. The new target suggests about 6.15% upside from the current share price.
• Analyst sentiment is mixed but slightly constructive, with MarketBeat showing a consensus rating of Moderate Buy and an average price target of $188.94. Several firms recently adjusted targets, including Morgan Stanley, Raymond James, Mizuho, Tudor Pickering, and Citigroup.
• Phillips 66 reported stronger-than-expected earnings for the latest quarter, posting $0.49 EPS versus an expected loss of $0.54, though revenue of $32.54 billion came in below estimates. The stock also traded near its 12-month high, closing at $179.93 on Tuesday.

Phillips 66 (NYSE:PSX - Get Free Report) had its target price boosted by investment analysts at Jefferies Financial Group from $173.00 to $191.00 in a research note issued on Tuesday,MarketScreener reports. The firm currently has a "hold" rating on the oil and gas company's stock. Jefferies Financial Group's price target indicates a potential upside of 6.15% from the company's current price.

Other equities research analysts have also recently issued reports about the company. Morgan Stanley reaffirmed an "overweight" rating and set a $180.00 price target on shares of Phillips 66 in a report on Thursday, April 30th. Raymond James Financial increased their price target on shares of Phillips 66 from $205.00 to $215.00 in a research note on Thursday, April 30th. Mizuho boosted their price objective on shares of Phillips 66 from $152.00 to $170.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 17th. Tudor Pickering raised Phillips 66 from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 30th. Finally, Citigroup lifted their target price on Phillips 66 from $159.00 to $183.00 and gave the company a "neutral" rating in a research note on Thursday, April 9th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $188.94.

Phillips 66 Price Performance

Shares of Phillips 66 stock traded up $2.24 during trading on Tuesday, hitting $179.93. 120,236 shares of the company's stock traded hands, compared to its average volume of 2,918,200. The company has a market cap of $72.14 billion, a PE ratio of 17.73, a PEG ratio of 0.26 and a beta of 0.70. The firm's fifty day moving average price is $172.20 and its 200 day moving average price is $153.71. Phillips 66 has a twelve month low of $111.19 and a twelve month high of $190.61. 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 announced its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, beating analysts' consensus estimates of ($0.54) by $1.03. The firm had revenue of $32.54 billion for the quarter, compared to analysts' expectations of $35.86 billion. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The business's revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.90) earnings per share. Analysts forecast that Phillips 66 will post 17.64 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Brian Mandell sold 42,800 shares of Phillips 66 stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $169.53, for a total transaction of $7,255,884.00. Following the transaction, the executive vice president owned 61,595 shares of the company's stock, valued at $10,442,200.35. This trade represents a 41.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kevin J. Mitchell sold 29,400 shares of the business's stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $170.00, for a total transaction of $4,998,000.00. Following the transaction, the chief financial officer owned 97,376 shares of the company's stock, valued at approximately $16,553,920. This represents a 23.19% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 114,029 shares of company stock worth $19,641,455 in the last ninety days. 0.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Oppenheimer & Co. Inc. lifted its stake in Phillips 66 by 57.4% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 56,858 shares of the oil and gas company's stock valued at $7,734,000 after acquiring an additional 20,742 shares in the last quarter. First National Bank of Omaha acquired a new position in Phillips 66 during the third quarter worth $2,357,000. TD Asset Management Inc raised its holdings in shares of Phillips 66 by 15.5% in the 3rd quarter. TD Asset Management Inc now owns 174,413 shares of the oil and gas company's stock valued at $23,724,000 after purchasing an additional 23,364 shares during the period. Caprock Group LLC bought a new position in Phillips 66 during the third quarter worth about $2,412,000. Finally, National Pension Service boosted its stake in shares of Phillips 66 by 3.5% during the 3rd quarter. National Pension Service now owns 602,099 shares of the oil and gas company's stock worth $81,898,000 after acquiring an additional 20,213 shares during the period. 76.93% of the stock is currently owned by institutional investors.

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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