Phillips 66 (NYSE:PSX) Given New $115.00 Price Target at Barclays

Phillips 66 (NYSE:PSX) had its target price cut by investment analysts at Barclays from $124.00 to $115.00 in a research note issued on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the oil and gas company’s stock. Barclays‘s target price would indicate a potential upside of 0.01% from the stock’s current price.

Several other research analysts have also recently issued reports on PSX. Morgan Stanley lowered their target price on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. Mizuho reduced their price target on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a research report on Monday, December 16th. JPMorgan Chase & Co. reduced their price target on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. Bank of America started coverage on shares of Phillips 66 in a research report on Thursday, October 17th. They issued a “buy” rating and a $156.00 price target for the company. Finally, Wolfe Research upgraded shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target for the company in a research report on Friday, January 3rd. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $147.93.

Phillips 66 Trading Up 0.9 %

Shares of Phillips 66 stock traded up $1.06 on Monday, reaching $114.99. The company had a trading volume of 215,657 shares, compared to its average volume of 2,462,431. The firm’s 50 day moving average price is $123.10 and its two-hundred day moving average price is $130.36. The firm has a market cap of $47.49 billion, a PE ratio of 14.76, a PEG ratio of 4.06 and a beta of 1.38. Phillips 66 has a 52-week low of $108.90 and a 52-week high of $174.08. 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 announced its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.41. The firm had revenue of $36.16 billion during the quarter, compared to analysts’ expectations of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The business’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.63 earnings per share. Sell-side analysts predict that Phillips 66 will post 7.56 earnings per share for the current fiscal year.

Institutional Trading of Phillips 66

A number of hedge funds have recently made changes to their positions in the stock. Legal & General Group Plc grew its position in shares of Phillips 66 by 0.5% during the second quarter. Legal & General Group Plc now owns 3,699,370 shares of the oil and gas company’s stock worth $522,240,000 after buying an additional 18,238 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Phillips 66 by 3.2% during the second quarter. Dimensional Fund Advisors LP now owns 3,643,264 shares of the oil and gas company’s stock worth $514,253,000 after buying an additional 111,261 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Phillips 66 by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,901,887 shares of the oil and gas company’s stock worth $381,453,000 after purchasing an additional 16,941 shares during the period. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in Phillips 66 by 2.9% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,813,579 shares of the oil and gas company’s stock worth $397,193,000 after purchasing an additional 79,301 shares during the period. Finally, Mizuho Securities USA LLC boosted its holdings in Phillips 66 by 7,549.0% in the third quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock worth $328,625,000 after purchasing an additional 2,467,316 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

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.