Phillips 66 (NYSE:PSX) Receives "Sector Perform" Rating from Scotiabank

Phillips 66 (NYSE:PSX - Get Free Report)'s stock had its "sector perform" rating reissued by investment analysts at Scotiabank in a research note issued on Friday, MarketBeat Ratings reports. They presently have a $133.00 target price on the oil and gas company's stock. Scotiabank's price target would indicate a potential downside of 1.02% from the stock's previous close.

Other equities analysts have also issued research reports about the company. Wall Street Zen upgraded Phillips 66 from a "sell" rating to a "hold" rating in a research note on Monday, April 28th. Compass Point started coverage on Phillips 66 in a research note on Wednesday, June 18th. They set a "buy" rating for the company. Piper Sandler lifted their price objective on Phillips 66 from $131.00 to $148.00 and gave the company a "neutral" rating in a research note on Thursday. Barclays lifted their price objective on Phillips 66 from $115.00 to $127.00 and gave the company an "equal weight" rating in a research note on Wednesday. Finally, Raymond James Financial reduced their price objective on Phillips 66 from $150.00 to $140.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Nine investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, Phillips 66 currently has an average rating of "Moderate Buy" and an average target price of $135.07.

Phillips 66 Stock Performance

Shares of PSX stock opened at $134.37 on Friday. The firm has a market capitalization of $54.75 billion, a price-to-earnings ratio of 30.61, a price-to-earnings-growth ratio of 2.06 and a beta of 1.02. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.23 and a quick ratio of 0.88. The business has a fifty day moving average of $118.98 and a 200 day moving average of $117.59. Phillips 66 has a 1 year low of $91.01 and a 1 year 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) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.07 by ($0.97). The firm had revenue of $31.92 billion during the quarter, compared to analysts' expectations of $31.93 billion. Phillips 66 had a return on equity of 4.83% and a net margin of 1.32%. During the same quarter last year, the business earned $1.90 EPS. As a group, research analysts expect that Phillips 66 will post 6.8 earnings per share for the current year.

Insider Transactions at Phillips 66

In other news, EVP Brian Mandell sold 9,800 shares of Phillips 66 stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $125.00, for a total value of $1,225,000.00. Following the sale, the executive vice president directly owned 56,838 shares of the company's stock, valued at $7,104,750. The trade was a 14.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robert W. Pease purchased 439 shares of the stock in a transaction dated Thursday, May 22nd. The stock was purchased at an average cost of $113.85 per share, for a total transaction of $49,980.15. Following the completion of the purchase, the director directly owned 4,091 shares of the company's stock, valued at approximately $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 Trading of Phillips 66

A number of institutional investors have recently made changes to their positions in the company. Elliott Investment Management L.P. raised its position in Phillips 66 by 1,929.0% in the first quarter. Elliott Investment Management L.P. now owns 15,725,000 shares of the oil and gas company's stock valued at $1,941,723,000 after purchasing an additional 14,950,000 shares during the period. Geode Capital Management LLC raised its holdings in shares of Phillips 66 by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 8,530,242 shares of the oil and gas company's stock valued at $968,844,000 after buying an additional 82,758 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Phillips 66 by 11.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,709,108 shares of the oil and gas company's stock worth $828,442,000 after purchasing an additional 682,459 shares during the period. Invesco Ltd. increased its holdings in Phillips 66 by 15.9% during the 1st quarter. Invesco Ltd. now owns 4,765,866 shares of the oil and gas company's stock worth $588,489,000 after purchasing an additional 653,248 shares during the period. Finally, Northern Trust Corp increased its holdings in Phillips 66 by 10.6% during the 4th quarter. Northern Trust Corp now owns 4,589,079 shares of the oil and gas company's stock worth $522,834,000 after purchasing an additional 440,107 shares during the period. 76.93% of the stock is owned by institutional investors and hedge funds.

Phillips 66 Company Profile

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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