Phillips 66 (NYSE:PSX) Stock Price Expected to Rise, UBS Group Analyst Says

Key Points

• UBS Group has raised its price target for Phillips 66 from $141.00 to $143.00, suggesting a potential upside of 12.07% from the stock's previous close.
• Phillips 66 reported $2.38 earnings per share for the last quarter, beating analysts' estimates by $0.59, with revenue reaching $33.77 billion.
• The company has a current consensus rating of "Hold" from analysts, with ten analysts giving it a hold rating and nine analysts rating it as a buy.

Phillips 66 (NYSE:PSX - Get Free Report) had its price target upped by analysts at UBS Group from $141.00 to $143.00 in a research report issued on Monday,Benzinga reports. The firm currently has a "buy" rating on the oil and gas company's stock. UBS Group's target price would indicate a potential upside of 12.07% from the stock's previous close.

Other analysts have also recently issued research reports about the stock. Evercore ISI began coverage on shares of Phillips 66 in a research note on Wednesday, June 18th. They issued an "outperform" rating and a $130.00 price target on the stock. TD Cowen boosted their price target on shares of Phillips 66 from $130.00 to $134.00 and gave the stock a "buy" rating in a research note on Monday. Morgan Stanley boosted their price target on shares of Phillips 66 from $122.00 to $128.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 16th. Wells Fargo & Company decreased their price target on shares of Phillips 66 from $149.00 to $147.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 11th. Finally, Cantor Fitzgerald initiated coverage on shares of Phillips 66 in a research note on Wednesday, June 18th. They issued a "neutral" rating on the stock. Ten investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $136.13.

Phillips 66 Price Performance

Shares of PSX traded up $2.63 during trading hours on Monday, reaching $127.60. 2,690,363 shares of the stock traded hands, compared to its average volume of 3,489,227. The company has a current ratio of 1.23, a quick ratio of 0.88 and a debt-to-equity ratio of 0.63. Phillips 66 has a 52-week low of $91.01 and a 52-week high of $150.12. The company's 50-day moving average price is $121.55 and its two-hundred day moving average price is $118.62. The company has a market cap of $51.99 billion, a P/E ratio of 30.67, a price-to-earnings-growth ratio of 1.82 and a beta of 1.02.

Phillips 66 (NYSE:PSX - Get Free Report) last released its earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share for the quarter, beating analysts' consensus estimates of $1.79 by $0.59. Phillips 66 had a net margin of 1.27% and a return on equity of 4.86%. The company had revenue of $33.77 billion for the quarter, compared to analysts' expectations of $32.11 billion. During the same quarter in the previous year, the company earned $2.31 EPS. On average, analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current year.

Insiders Place Their Bets

In other Phillips 66 news, EVP Vanessa Allen Sutherland sold 4,393 shares of the company's stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $130.00, for a total value of $571,090.00. Following the transaction, the executive vice president directly owned 43,373 shares in the company, valued at $5,638,490. This represents a 9.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert W. Pease acquired 439 shares of the company's stock in a transaction dated Thursday, May 22nd. The shares were acquired 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 owned 4,091 shares of the company's stock, valued at approximately $465,760.35. This represents a 12.02% increase in their position. The disclosure for this purchase can be found here. Insiders own 0.22% of the company's stock.

Institutional Trading of Phillips 66

Hedge funds have recently modified their holdings of the company. Cohen & Steers Inc. lifted its position in shares of 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 valued at $10,443,000 after buying an additional 26,318 shares during the last quarter. Cary Street Partners Financial LLC purchased a new stake in shares of Phillips 66 during the fourth quarter valued at about $4,333,000. Resona Asset Management Co. Ltd. purchased a new stake in shares of Phillips 66 during the fourth quarter valued at about $15,203,000. Massachusetts Financial Services Co. MA lifted its position 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 last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its position in shares of Phillips 66 by 20.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 158,934 shares of the oil and gas company's stock valued at $19,625,000 after buying an additional 26,825 shares during the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

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.

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