Scotiabank Reiterates "Sector Perform" Rating for Phillips 66 (NYSE:PSX)

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

A number of other research firms have also recently weighed in on PSX. Cantor Fitzgerald began coverage on shares of Phillips 66 in a research note on Wednesday, June 18th. They set a "neutral" rating on the stock. Compass Point began coverage on shares of Phillips 66 in a research note on Wednesday, June 18th. They issued a "buy" rating on the stock. Morgan Stanley lowered their price objective on shares of Phillips 66 from $140.00 to $122.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. UBS Group lowered their price objective on shares of Phillips 66 from $144.00 to $140.00 and set a "buy" rating on the stock in a research note on Monday, April 28th. Finally, Mizuho increased their price objective on shares of Phillips 66 from $132.00 to $138.00 and gave the company a "neutral" rating in a research note on Tuesday, May 13th. Nine equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $135.07.

Phillips 66 Stock Performance

PSX traded down $2.73 during trading on Friday, hitting $131.66. The stock had a trading volume of 1,679,501 shares, compared to its average volume of 3,119,398. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.88 and a current ratio of 1.23. The firm has a market capitalization of $53.64 billion, a P/E ratio of 29.99, a PEG ratio of 2.12 and a beta of 1.02. The company's 50-day moving average price is $118.98 and its 200 day moving average price is $117.59. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $150.12.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its quarterly earnings results 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). Phillips 66 had a return on equity of 4.83% and a net margin of 1.32%. The company had revenue of $31.92 billion for the quarter, compared to analyst estimates of $31.93 billion. During the same period last year, the company earned $1.90 earnings per share. On average, equities research analysts forecast that Phillips 66 will post 6.8 EPS for the current fiscal year.

Insider Buying and Selling at Phillips 66

In other news, Director Robert W. Pease acquired 439 shares of the company's stock in a transaction dated Thursday, May 22nd. The shares were bought at an average price 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. This trade represents a 12.02% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of Phillips 66 stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $130.00, for a total transaction of $571,090.00. Following the sale, the executive vice president owned 43,373 shares in the company, valued at $5,638,490. This represents a 9.20% decrease in their position. The disclosure for this sale can be found here. 0.22% of the stock is owned by insiders.

Institutional Trading of Phillips 66

Hedge funds have recently made changes to their positions in the stock. von Borstel & Associates Inc. acquired a new position in shares of Phillips 66 during the first quarter valued at $27,000. Olde Wealth Management LLC acquired a new position in shares of Phillips 66 during the first quarter valued at $28,000. Opal Wealth Advisors LLC acquired a new position in shares of Phillips 66 during the first quarter valued at $29,000. Pacific Center for Financial Services acquired a new position in shares of Phillips 66 during the fourth quarter valued at $27,000. Finally, Smallwood Wealth Investment Management LLC acquired a new position in shares of Phillips 66 during the first quarter valued at $29,000. Institutional investors and hedge funds own 76.93% of the company's stock.

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.