Phillips 66 (NYSE:PSX) Given a $128.00 Price Target by Morgan Stanley Analysts

Phillips 66 (NYSE:PSX - Get Free Report) has been given a $128.00 price objective by research analysts at Morgan Stanley in a research report issued to clients and investors on Wednesday, Marketbeat.com reports. The firm currently has an "equal weight" rating on the oil and gas company's stock. Morgan Stanley's price objective suggests a potential upside of 3.53% from the stock's current price.

PSX has been the topic of several other research reports. Compass Point began coverage on shares of Phillips 66 in a research report on Wednesday, June 18th. They set a "buy" rating on the stock. Mizuho boosted their target price on Phillips 66 from $132.00 to $138.00 and gave the stock a "neutral" rating in a report on Tuesday, May 13th. Barclays raised their price objective on shares of Phillips 66 from $115.00 to $127.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 9th. UBS Group decreased their price objective on Phillips 66 from $144.00 to $140.00 and set a "buy" rating on the stock in a report on Monday, April 28th. Finally, Tudor Pickering cut Phillips 66 from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $135.27.

Phillips 66 Stock Performance

Shares of NYSE:PSX traded down $4.64 during trading on Wednesday, hitting $123.63. The stock had a trading volume of 3,438,022 shares, compared to its average volume of 3,128,831. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $150.12. The stock has a 50-day simple moving average of $120.37 and a two-hundred day simple moving average of $118.00. The company has a quick ratio of 0.88, a current ratio of 1.23 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $50.37 billion, a price-to-earnings ratio of 28.16, a price-to-earnings-growth ratio of 2.04 and a beta of 1.02.

Phillips 66 (NYSE:PSX - Get Free Report) last released its quarterly earnings data on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.97). The company had revenue of $31.92 billion for the quarter, compared to analysts' expectations of $31.93 billion. Phillips 66 had a net margin of 1.32% and a return on equity of 4.83%. During the same quarter in the previous year, the business posted $1.90 EPS. On average, equities research analysts expect that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Phillips 66

Several hedge funds have recently made changes to their positions in PSX. Cohen & Steers Inc. raised its holdings in Phillips 66 by 40.3% during the fourth quarter. Cohen & Steers Inc. now owns 91,663 shares of the oil and gas company's stock worth $10,443,000 after purchasing an additional 26,318 shares in the last quarter. Cary Street Partners Financial LLC acquired a new position in shares of Phillips 66 during the 4th quarter worth $4,333,000. Resona Asset Management Co. Ltd. purchased a new stake in Phillips 66 during the 4th quarter worth about $15,203,000. Massachusetts Financial Services Co. MA lifted its stake in shares of Phillips 66 by 4.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,107,397 shares of the oil and gas company's stock valued at $126,166,000 after buying an additional 43,238 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of Phillips 66 by 20.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 158,934 shares of the oil and gas company's stock worth $19,625,000 after acquiring an additional 26,825 shares during the last quarter. Institutional investors and hedge funds 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.