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

Phillips 66 (NYSE:PSX) had its target price cut by research analysts at Barclays from $133.00 to $124.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the oil and gas company’s stock. Barclays‘s target price indicates a potential downside of 2.88% from the company’s current price.

Several other research analysts have also commented on the stock. Raymond James lifted their price target on shares of Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Wells Fargo & Company decreased their target price on Phillips 66 from $182.00 to $167.00 and set an “overweight” rating for the company in a research note on Wednesday, October 9th. Mizuho dropped their price target on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Piper Sandler set a $144.00 price objective on Phillips 66 in a research report on Thursday, October 17th. Finally, Scotiabank lowered their price objective on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $149.69.

Phillips 66 Stock Performance

Shares of Phillips 66 stock opened at $127.68 on Monday. The firm has a market cap of $52.73 billion, a PE ratio of 16.39, a price-to-earnings-growth ratio of 4.12 and a beta of 1.33. Phillips 66 has a 1 year low of $111.90 and a 1 year high of $174.08. The firm’s 50-day simple moving average is $129.87 and its 200-day simple moving average is $136.21. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21.

Phillips 66 (NYSE:PSX) last released its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.41. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The company had revenue of $36.16 billion for the quarter, compared to the consensus estimate of $36.31 billion. During the same quarter last year, the business posted $4.63 EPS. Phillips 66’s quarterly revenue was down 10.3% compared to the same quarter last year. Equities analysts forecast that Phillips 66 will post 7.68 earnings per share for the current fiscal year.

Insider Transactions at Phillips 66

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the completion of the sale, the chief financial officer now directly owns 81,937 shares of the company’s stock, valued at $11,390,062.37. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.22% of the company’s stock.

Institutional Trading of Phillips 66

A number of hedge funds have recently bought and sold shares of PSX. Van ECK Associates Corp raised its holdings in shares of Phillips 66 by 263.3% during the third quarter. Van ECK Associates Corp now owns 83,278 shares of the oil and gas company’s stock valued at $10,753,000 after acquiring an additional 60,355 shares during the period. Manning & Napier Advisors LLC acquired a new stake in Phillips 66 during the 2nd quarter valued at $17,670,000. M&G Plc acquired a new stake in Phillips 66 during the 2nd quarter valued at $3,596,000. Cetera Investment Advisers lifted its holdings in shares of Phillips 66 by 318.9% in the first quarter. Cetera Investment Advisers now owns 142,548 shares of the oil and gas company’s stock valued at $23,284,000 after purchasing an additional 108,515 shares in the last quarter. Finally, Blair William & Co. IL boosted its position in shares of Phillips 66 by 4.5% in the first quarter. Blair William & Co. IL now owns 187,152 shares of the oil and gas company’s stock worth $30,569,000 after buying an additional 8,102 shares during the period. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Company Profile

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.