Phillips 66 (NYSE:PSX) Price Target Lowered to $147.00 at Piper Sandler

Phillips 66 (NYSE:PSX - Get Free Report) had its target price lowered by research analysts at Piper Sandler from $148.00 to $147.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a "neutral" rating on the oil and gas company's stock. Piper Sandler's price objective would suggest a potential upside of 15.96% from the stock's current price.

Several other brokerages have also recently issued reports on PSX. TD Cowen boosted their price target on shares of Phillips 66 from $114.00 to $120.00 and gave the company a "buy" rating in a research report on Tuesday, May 13th. Cantor Fitzgerald began coverage on shares of Phillips 66 in a report on Wednesday, June 18th. They issued a "neutral" rating on the stock. Scotiabank restated a "sector perform" rating and issued a $133.00 price objective on shares of Phillips 66 in a report on Friday, July 11th. Citigroup cut shares of Phillips 66 from a "buy" rating to a "neutral" rating and upped their price objective for the stock from $126.00 to $130.00 in a report on Wednesday, July 16th. Finally, Compass Point initiated coverage on shares of Phillips 66 in a research note on Wednesday, June 18th. They issued a "buy" rating on the stock. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Phillips 66 presently has an average rating of "Hold" and a consensus target price of $135.20.

Phillips 66 Price Performance

Shares of Phillips 66 stock traded up $0.72 on Tuesday, hitting $126.77. 715,190 shares of the company traded hands, compared to its average volume of 3,127,714. The firm's 50-day simple moving average is $121.35 and its 200 day simple moving average is $118.27. The company has a current ratio of 1.23, a quick ratio of 0.88 and a debt-to-equity ratio of 0.63. The company has a market cap of $51.65 billion, a P/E ratio of 28.87, a P/E/G ratio of 1.95 and a beta of 1.02. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $150.12.

Phillips 66 (NYSE:PSX - Get Free Report) last issued its earnings results 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). Phillips 66 had a return on equity of 4.83% and a net margin of 1.32%. The business had revenue of $31.92 billion during the quarter, compared to analysts' expectations of $31.93 billion. During the same quarter in the previous year, the business earned $1.90 EPS. Analysts expect that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Insider Transactions at Phillips 66

In related news, EVP Brian Mandell sold 9,800 shares of the firm's stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $125.00, for a total transaction of $1,225,000.00. Following the completion of the transaction, the executive vice president directly owned 56,838 shares of the company's stock, valued at approximately $7,104,750. This trade represents a 14.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robert W. Pease acquired 439 shares of the stock in a transaction on Thursday, May 22nd. The shares were acquired at an average price of $113.85 per share, with a total value of $49,980.15. Following the transaction, the director directly owned 4,091 shares of the company's stock, valued at $465,760.35. The trade was a 12.02% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.22% of the company's stock.

Institutional Investors Weigh In On Phillips 66

Several institutional investors have recently made changes to their positions in PSX. Wealthcare Advisory Partners LLC grew its position in shares of Phillips 66 by 1.6% in the 2nd quarter. Wealthcare Advisory Partners LLC now owns 9,886 shares of the oil and gas company's stock worth $1,179,000 after buying an additional 160 shares during the last quarter. Oak Hill Wealth Advisors LLC lifted its stake in Phillips 66 by 6.2% during the 2nd quarter. Oak Hill Wealth Advisors LLC now owns 8,405 shares of the oil and gas company's stock valued at $1,093,000 after acquiring an additional 493 shares during the period. 111 Capital acquired a new position in shares of Phillips 66 in the 2nd quarter valued at $303,000. ZWJ Investment Counsel Inc. lifted its stake in shares of Phillips 66 by 6.2% in the 2nd quarter. ZWJ Investment Counsel Inc. now owns 285,629 shares of the oil and gas company's stock valued at $34,076,000 after purchasing an additional 16,573 shares during the period. Finally, Segment Wealth Management LLC increased its holdings in Phillips 66 by 1.6% in the 2nd quarter. Segment Wealth Management LLC now owns 13,922 shares of the oil and gas company's stock worth $1,661,000 after acquiring an additional 222 shares in the last quarter. Institutional investors own 76.93% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.