UBS Group Has Lowered Expectations for Phillips 66 (NYSE:PSX) Stock Price

Phillips 66 (NYSE:PSX - Get Free Report) had its target price cut by equities researchers at UBS Group from $144.00 to $140.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the oil and gas company's stock. UBS Group's target price indicates a potential upside of 31.81% from the stock's previous close.

Several other analysts have also recently commented on the company. Wolfe Research upgraded Phillips 66 from a "peer perform" rating to an "outperform" rating and set a $143.00 target price on the stock in a research report on Friday, January 3rd. Mizuho lowered their price target on Phillips 66 from $140.00 to $132.00 and set a "neutral" rating on the stock in a report on Wednesday, April 9th. Scotiabank reduced their price objective on shares of Phillips 66 from $136.00 to $133.00 and set a "sector outperform" rating for the company in a report on Friday, April 11th. StockNews.com cut shares of Phillips 66 from a "hold" rating to a "sell" rating in a research note on Sunday, March 2nd. Finally, Piper Sandler lowered shares of Phillips 66 from a "strong-buy" rating to a "hold" rating in a research note on Friday, January 10th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $136.36.

Phillips 66 Stock Performance

PSX stock traded up $2.75 during trading on Monday, hitting $106.21. 518,682 shares of the company's stock traded hands, compared to its average volume of 3,540,979. Phillips 66 has a 52 week low of $91.01 and a 52 week high of $150.12. The stock has a fifty day moving average price of $113.83 and a two-hundred day moving average price of $120.39. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $43.28 billion, a price-to-earnings ratio of 21.47, a price-to-earnings-growth ratio of 4.84 and a beta of 1.17.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its earnings results on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.07 by ($0.97). Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. The company had revenue of $31.92 billion during the quarter, compared to the consensus estimate of $31.93 billion. During the same quarter in the previous year, the business posted $1.90 earnings per share. As a group, equities analysts anticipate that Phillips 66 will post 6.8 EPS for the current fiscal year.

Institutional Investors Weigh In On Phillips 66

Large investors have recently modified their holdings of the stock. Oppenheimer & Co. Inc. increased its stake in Phillips 66 by 10.6% in the 4th quarter. Oppenheimer & Co. Inc. now owns 46,953 shares of the oil and gas company's stock worth $5,349,000 after purchasing an additional 4,515 shares in the last quarter. Flavin Financial Services Inc. acquired a new position in shares of Phillips 66 in the fourth quarter worth about $1,190,000. Everence Capital Management Inc. acquired a new stake in shares of Phillips 66 during the fourth quarter valued at approximately $3,033,000. Donoghue Forlines LLC purchased a new stake in shares of Phillips 66 in the 4th quarter valued at approximately $1,438,000. Finally, Smith Group Asset Management LLC acquired a new position in Phillips 66 in the 4th quarter worth approximately $1,149,000. 76.93% of the stock is owned by 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.