Phillips 66 (NYSE:PSX) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Phillips 66 (NYSE:PSX) have been given an average recommendation of “Moderate Buy” by the fourteen ratings firms that are covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $148.00.

Several brokerages have recently issued reports on PSX. Bank of America assumed coverage on shares of Phillips 66 in a research report on Thursday, October 17th. They issued a “buy” rating and a $156.00 target price on the stock. Barclays reduced their target price on Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. Mizuho decreased their target price on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a research report on Monday, December 16th. UBS Group reduced their price objective on Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Finally, Wolfe Research raised shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price for the company in a report on Friday, January 3rd.

Phillips 66 Stock Performance

NYSE PSX opened at $120.45 on Monday. The stock has a market capitalization of $49.74 billion, a price-to-earnings ratio of 24.38, a PEG ratio of 3.89 and a beta of 1.37. The stock has a 50-day moving average of $119.56 and a 200 day moving average of $128.06. 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 has a twelve month low of $108.90 and a twelve month high of $174.08.

Phillips 66 (NYSE:PSX) last announced 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 period in the previous year, the business posted $3.09 EPS. Sell-side analysts anticipate that Phillips 66 will post 7.57 EPS for the current fiscal year.

Institutional Investors Weigh In On Phillips 66

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp increased its position in shares of Phillips 66 by 7.3% during the 4th quarter. Bank of New York Mellon Corp now owns 9,344,342 shares of the oil and gas company’s stock worth $1,064,601,000 after purchasing an additional 639,323 shares during the last quarter. Amundi boosted its stake in Phillips 66 by 25.7% during the fourth quarter. Amundi now owns 3,682,414 shares of the oil and gas company’s stock worth $428,081,000 after buying an additional 753,653 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Phillips 66 by 3.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,002,995 shares of the oil and gas company’s stock valued at $342,131,000 after acquiring an additional 101,108 shares during the last quarter. Mizuho Securities USA LLC raised its stake in shares of Phillips 66 by 7,549.0% in the 3rd quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock valued at $328,625,000 after acquiring an additional 2,467,316 shares during the period. Finally, Bank of Montreal Can lifted its holdings in shares of Phillips 66 by 63.4% in the 3rd quarter. Bank of Montreal Can now owns 1,633,876 shares of the oil and gas company’s stock worth $214,120,000 after acquiring an additional 633,970 shares during the last quarter. 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.