The Goldman Sachs Group Boosts Phillips 66 (NYSE:PSX) Price Target to $186.00

Key Points

• Goldman Sachs raised its price target on Phillips 66 to $186.00 from $168.00 while keeping a "neutral" rating, implying roughly a 4.92% upside from the prior close.
• Phillips 66 reported quarterly EPS of $2.47 (beating estimates by $0.32) and the stock traded up to $177.28, while the consensus analyst rating remains a "Hold" with a $161.33 target.
• Company insiders have been net sellers recently, offloading 38,088 shares worth about $6.15 million in the last 90 days, and insiders now own just 0.22% of the stock.

Phillips 66 (NYSE:PSX - Get Free Report) had its target price increased by stock analysts at The Goldman Sachs Group from $168.00 to $186.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a "neutral" rating on the oil and gas company's stock. The Goldman Sachs Group's price objective suggests a potential upside of 4.92% from the stock's previous close.

Several other brokerages have also recently commented on PSX. Scotiabank restated a "sector perform" rating and set a $140.00 target price on shares of Phillips 66 in a report on Friday, January 16th. Wall Street Zen upgraded Phillips 66 from a "hold" rating to a "buy" rating in a research report on Saturday, February 28th. Morgan Stanley raised their price target on Phillips 66 from $140.00 to $147.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 5th. Wolfe Research boosted their price target on Phillips 66 from $159.00 to $164.00 and gave the company an "outperform" rating in a report on Monday, January 26th. Finally, Piper Sandler increased their target price on shares of Phillips 66 from $153.00 to $156.00 and gave the stock a "neutral" rating in a report on Thursday, February 5th. Eleven investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $161.33.

Phillips 66 Stock Performance

PSX traded up $7.78 on Thursday, hitting $177.28. 2,980,705 shares of the company's stock were exchanged, compared to its average volume of 2,770,314. The firm has a market cap of $71.04 billion, a PE ratio of 16.33, a P/E/G ratio of 0.56 and a beta of 0.86. The stock has a fifty day moving average of $149.69 and a two-hundred day moving average of $139.51. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $177.72. The company has a current ratio of 1.30, a quick ratio of 0.91 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its quarterly earnings data on Wednesday, February 4th. The oil and gas company reported $2.47 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.32. Phillips 66 had a net margin of 3.22% and a return on equity of 9.13%. The business had revenue of $32.16 billion during the quarter, compared to the consensus estimate of $33.81 billion. During the same quarter in the prior year, the company posted ($0.15) earnings per share. On average, research analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Don Baldridge sold 7,500 shares of the business's stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $160.00, for a total value of $1,200,000.00. Following the transaction, the executive vice president directly owned 38,488 shares of the company's stock, valued at $6,158,080. The trade was a 16.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Kevin J. Mitchell sold 16,856 shares of the business's stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $168.22, for a total transaction of $2,835,516.32. Following the sale, the chief financial officer owned 97,376 shares of the company's stock, valued at $16,380,590.72. This trade represents a 14.76% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 38,088 shares of company stock worth $6,147,655. 0.22% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Phillips 66

Several institutional investors have recently made changes to their positions in the stock. Clifford Group LLC increased its holdings in shares of Phillips 66 by 2.0% during the fourth quarter. Clifford Group LLC now owns 3,315 shares of the oil and gas company's stock worth $428,000 after buying an additional 64 shares in the last quarter. CYBER HORNET ETFs LLC lifted its holdings in shares of Phillips 66 by 5.7% in the fourth quarter. CYBER HORNET ETFs LLC now owns 1,228 shares of the oil and gas company's stock worth $158,000 after buying an additional 66 shares in the last quarter. L2 Asset Management LLC lifted its holdings in shares of Phillips 66 by 4.0% in the 3rd quarter. L2 Asset Management LLC now owns 1,893 shares of the oil and gas company's stock worth $257,000 after acquiring an additional 72 shares during the last quarter. GHP Investment Advisors Inc. raised its stake in Phillips 66 by 2.3% in the fourth quarter. GHP Investment Advisors Inc. now owns 3,210 shares of the oil and gas company's stock valued at $414,000 after buying an additional 72 shares during the last quarter. Finally, Johnson Financial Group Inc. boosted its position in Phillips 66 by 11.9% in the 4th quarter. Johnson Financial Group Inc. now owns 679 shares of the oil and gas company's stock worth $88,000 after purchasing an additional 72 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company's stock.

Phillips 66 Company Profile

Phillips 66 NYSE: PSX is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company's principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.