TD Cowen Issues Positive Forecast for Phillips 66 (NYSE:PSX) Stock Price

Phillips 66 (NYSE:PSX - Get Free Report) had its target price raised by research analysts at TD Cowen from $114.00 to $120.00 in a note issued to investors on Tuesday, Marketbeat.com reports. The brokerage currently has a "buy" rating on the oil and gas company's stock. TD Cowen's price objective would indicate a potential downside of 4.53% from the stock's previous close.

Several other research analysts have also recently weighed in on PSX. The Goldman Sachs Group cut shares of Phillips 66 from a "buy" rating to a "neutral" rating and set a $132.00 price target on the stock. in a research note on Thursday, March 27th. Raymond James decreased their target price on shares of Phillips 66 from $150.00 to $140.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. JPMorgan Chase & Co. lowered their price target on shares of Phillips 66 from $138.00 to $131.00 and set an "overweight" rating on the stock in a report on Tuesday, April 29th. Barclays lifted their price target on shares of Phillips 66 from $106.00 to $115.00 and gave the company an "equal weight" rating in a report on Monday. Finally, Mizuho lowered their target price on shares of Phillips 66 from $140.00 to $132.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 9th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Phillips 66 currently has an average rating of "Moderate Buy" and an average price target of $137.86.

Phillips 66 Stock Performance

PSX stock traded up $0.92 on Tuesday, hitting $125.69. The company had a trading volume of 3,242,816 shares, compared to its average volume of 2,956,946. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $150.12. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The stock's 50-day simple moving average is $111.57 and its 200 day simple moving average is $119.23. The stock has a market cap of $51.21 billion, a price-to-earnings ratio of 25.44, a P/E/G ratio of 4.84 and a beta of 1.01.

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 the consensus estimate of $0.07 by ($0.97). The company 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 8.58% and a net margin of 1.46%. During the same quarter in the prior year, the business posted $1.90 EPS. As a group, equities research analysts expect that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PSX. Czech National Bank boosted its holdings in shares of Phillips 66 by 5.0% during the 4th quarter. Czech National Bank now owns 89,493 shares of the oil and gas company's stock valued at $10,196,000 after purchasing an additional 4,227 shares during the last quarter. Fiduciary Alliance LLC bought a new stake in shares of Phillips 66 in the 4th quarter worth about $861,000. Capital Investment Advisors LLC increased its holdings in shares of Phillips 66 by 41.3% in the 4th quarter. Capital Investment Advisors LLC now owns 4,145 shares of the oil and gas company's stock worth $472,000 after buying an additional 1,211 shares during the last quarter. Wedmont Private Capital increased its holdings in shares of Phillips 66 by 14.1% in the 4th quarter. Wedmont Private Capital now owns 6,856 shares of the oil and gas company's stock worth $781,000 after buying an additional 847 shares during the last quarter. Finally, Miracle Mile Advisors LLC increased its holdings in shares of Phillips 66 by 56.1% in the 4th quarter. Miracle Mile Advisors LLC now owns 33,802 shares of the oil and gas company's stock worth $3,851,000 after buying an additional 12,147 shares during 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.