Phillips 66 (NYSE:PSX) Price Target Raised to $135.00 at Barclays

Phillips 66 (NYSE:PSX) had its price objective hoisted by investment analysts at Barclays from $115.00 to $135.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the oil and gas company’s stock. Barclays‘s price objective would indicate a potential upside of 6.73% from the stock’s current price.

Several other equities research analysts have also commented on PSX. Piper Sandler lowered Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Mizuho dropped their price target on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a research report on Monday, December 16th. StockNews.com downgraded shares of Phillips 66 from a “hold” rating to a “sell” rating in a research report on Sunday, March 2nd. Wells Fargo & Company raised their target price on Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Finally, 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. One analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $149.43.

Phillips 66 Stock Up 3.3 %

Shares of PSX stock traded up $3.99 during trading hours on Friday, reaching $126.49. 1,670,640 shares of the company’s stock were exchanged, compared to its average volume of 2,645,332. Phillips 66 has a fifty-two week low of $108.91 and a fifty-two week high of $174.08. The stock’s 50 day moving average is $122.61 and its 200-day moving average is $126.08. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The company has a market cap of $51.57 billion, a price-to-earnings ratio of 25.61, a P/E/G ratio of 4.84 and a beta of 1.31.

Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($1.38). 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 earned $3.09 EPS. Analysts predict that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Bogart Wealth LLC lifted its stake in Phillips 66 by 120.0% during the 4th quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 120 shares in the last quarter. J.Safra Asset Management Corp purchased a new position in shares of Phillips 66 in the fourth quarter valued at approximately $25,000. Pacific Center for Financial Services acquired a new stake in Phillips 66 during the 4th quarter worth approximately $27,000. Stephens Consulting LLC raised its stake in shares of Phillips 66 by 83.5% in the fourth quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 111 shares in the last quarter. Finally, Graney & King LLC purchased a new stake in shares of Phillips 66 during the fourth quarter worth approximately $28,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

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.