Wells Fargo & Company Issues Pessimistic Forecast for Phillips 66 (NYSE:PSX) Stock Price

Phillips 66 (NYSE:PSX - Get Free Report) had its price target dropped by investment analysts at Wells Fargo & Company from $162.00 to $149.00 in a research note issued on Monday,Benzinga reports. The firm presently has an "overweight" rating on the oil and gas company's stock. Wells Fargo & Company's price target would indicate a potential upside of 41.97% from the company's previous close.

Several other analysts have also recently weighed in on the company. Wolfe Research raised Phillips 66 from a "peer perform" rating to an "outperform" rating and set a $143.00 price target for the company in a report on Friday, January 3rd. StockNews.com downgraded Phillips 66 from a "hold" rating to a "sell" rating in a report on Sunday, March 2nd. Raymond James decreased their price target 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. Scotiabank cut 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. Finally, Morgan Stanley lowered their target price on shares of Phillips 66 from $140.00 to $122.00 and set an "equal weight" rating on the stock in a report on Thursday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $136.93.

Phillips 66 Stock Performance

Shares of NYSE:PSX traded up $0.98 on Monday, hitting $104.95. The company had a trading volume of 114,847 shares, compared to its average volume of 2,889,805. The stock has a market cap of $42.76 billion, a price-to-earnings ratio of 21.24, a P/E/G ratio of 4.84 and a beta of 1.17. The stock has a 50 day moving average price of $115.80 and a 200 day moving average price of $121.04. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $152.19. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62.

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

Hedge Funds Weigh In On Phillips 66

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

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