Phillips 66 (NYSE:PSX) Stock Price Expected to Rise, Evercore ISI Analyst Says

Key Points

• Evercore ISI raised the target price for **Phillips 66** from **$130.00 to $170.00**, indicating a potential upside of **31.10%**.
• The stock has received a mix of ratings from analysts, with one **Strong Buy**, eight **Buy**, and eleven **Hold**, leading to an average target price of **$138.94**.
• Phillips 66 reported a **better-than-expected** quarterly earnings of **$2.38 EPS**, exceeding analysts' estimates of **$1.79**.

Phillips 66 (NYSE:PSX - Get Free Report) had its price objective increased by equities researchers at Evercore ISI from $130.00 to $170.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an "outperform" rating on the oil and gas company's stock. Evercore ISI's target price would indicate a potential upside of 31.39% from the stock's previous close.

Other equities research analysts have also issued research reports about the company. Cantor Fitzgerald began coverage on Phillips 66 in a research note on Wednesday, June 18th. They issued a "neutral" rating for the company. JPMorgan Chase & Co. set a $115.00 price target on Phillips 66 in a research note on Wednesday, June 18th. Compass Point initiated coverage on Phillips 66 in a research report on Wednesday, June 18th. They issued a "buy" rating on the stock. Barclays increased their price target on Phillips 66 from $115.00 to $127.00 and gave the company an "equal weight" rating in a report on Wednesday, July 9th. Finally, Morgan Stanley raised their target price on Phillips 66 from $122.00 to $128.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 16th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eleven have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $138.94.

Phillips 66 Stock Down 1.5%

Shares of NYSE:PSX traded down $1.96 during mid-day trading on Friday, reaching $129.39. 9,244,717 shares of the stock were exchanged, compared to its average volume of 2,462,234. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.60. The stock's 50 day simple moving average is $127.04 and its 200-day simple moving average is $119.78. The company has a market cap of $52.29 billion, a P/E ratio of 31.10, a P/E/G ratio of 1.86 and a beta of 1.15. Phillips 66 has a one year low of $91.01 and a one year high of $140.60.

Phillips 66 (NYSE:PSX - Get Free Report) last announced its quarterly earnings data on Friday, July 25th. The oil and gas company reported $2.38 earnings per share for the quarter, beating the consensus estimate of $1.79 by $0.59. The firm had revenue of $33.77 billion during the quarter, compared to analysts' expectations of $32.11 billion. Phillips 66 had a return on equity of 4.87% and a net margin of 1.27%.During the same period in the previous year, the firm earned $2.31 EPS. As a group, equities research analysts predict that Phillips 66 will post 6.8 EPS for the current year.

Insider Activity at Phillips 66

In related news, Director Sigmund L. Cornelius purchased 500 shares of the company's stock in a transaction that occurred on Thursday, July 31st. The stock was purchased at an average price of $123.55 per share, with a total value of $61,775.00. Following the completion of the transaction, the director owned 21,543 shares of the company's stock, valued at approximately $2,661,637.65. This trade represents a 2.38% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael A. Heim bought 1,000 shares of the firm's stock in a transaction dated Wednesday, July 30th. The stock was purchased at an average price of $125.97 per share, with a total value of $125,970.00. Following the completion of the purchase, the director directly owned 12,043 shares of the company's stock, valued at approximately $1,517,056.71. This trade represents a 9.06% increase in their position. The disclosure for this purchase can be found here. Insiders have bought 9,850 shares of company stock valued at $1,188,910 over the last quarter. 0.22% of the stock is owned by insiders.

Hedge Funds Weigh In On Phillips 66

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Valeo Financial Advisors LLC boosted its stake in Phillips 66 by 0.9% during the second quarter. Valeo Financial Advisors LLC now owns 15,159 shares of the oil and gas company's stock worth $1,809,000 after buying an additional 140 shares in the last quarter. SevenBridge Financial Group LLC raised its holdings in Phillips 66 by 11.6% during the 2nd quarter. SevenBridge Financial Group LLC now owns 33,719 shares of the oil and gas company's stock worth $4,048,000 after purchasing an additional 3,495 shares during the last quarter. Osaic Holdings Inc. increased its stake in shares of Phillips 66 by 7.8% in the 2nd quarter. Osaic Holdings Inc. now owns 113,076 shares of the oil and gas company's stock valued at $13,510,000 after acquiring an additional 8,195 shares during the last quarter. Evolution Wealth Management Inc. bought a new stake in shares of Phillips 66 in the 2nd quarter valued at about $25,000. Finally, Orion Porfolio Solutions LLC increased its stake in shares of Phillips 66 by 32.0% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 27,886 shares of the oil and gas company's stock valued at $3,327,000 after acquiring an additional 6,757 shares during the last quarter. Institutional investors 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.