Phillips 66 (NYSE:PSX – Get Free Report)’s share price gapped down before the market opened on Tuesday after Barclays lowered their price target on the stock from $142.00 to $136.00. The stock had previously closed at $135.95, but opened at $133.02. Barclays currently has an equal weight rating on the stock. Phillips 66 shares last traded at $133.41, with a volume of 75,459 shares trading hands.
Other equities research analysts have also recently issued reports about the company. The Goldman Sachs Group upped their price target on Phillips 66 from $152.00 to $174.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Argus reissued a “buy” rating and issued a $167.00 target price on shares of Phillips 66 in a research note on Thursday, May 30th. Bank of America increased their target price on Phillips 66 from $150.00 to $180.00 and gave the stock a “neutral” rating in a research note on Friday, March 15th. Scotiabank increased their target price on Phillips 66 from $148.00 to $156.00 and gave the stock a “sector outperform” rating in a research note on Thursday, April 11th. Finally, Piper Sandler cut their target price on Phillips 66 from $170.00 to $151.00 and set an “overweight” rating on the stock in a research note on Friday, June 14th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $156.64.
Insider Activity
In other Phillips 66 news, EVP Timothy D. Roberts sold 37,742 shares of the stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $145.80, for a total value of $5,502,783.60. Following the transaction, the executive vice president now owns 48,365 shares of the company’s stock, valued at $7,051,617. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.22% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of PSX. Vanguard Group Inc. raised its stake in shares of Phillips 66 by 4.0% in the first quarter. Vanguard Group Inc. now owns 41,271,077 shares of the oil and gas company’s stock worth $6,741,218,000 after buying an additional 1,578,669 shares during the period. Wellington Management Group LLP raised its stake in shares of Phillips 66 by 20.3% in the fourth quarter. Wellington Management Group LLP now owns 10,903,130 shares of the oil and gas company’s stock worth $1,451,643,000 after buying an additional 1,842,226 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Phillips 66 by 38.0% in the first quarter. Bank of New York Mellon Corp now owns 8,019,795 shares of the oil and gas company’s stock worth $1,309,954,000 after buying an additional 2,209,043 shares during the period. Boston Partners raised its stake in shares of Phillips 66 by 41.4% in the first quarter. Boston Partners now owns 5,453,892 shares of the oil and gas company’s stock worth $889,214,000 after buying an additional 1,595,722 shares during the period. Finally, Norges Bank bought a new position in shares of Phillips 66 in the fourth quarter worth about $559,435,000. Institutional investors own 76.93% of the company’s stock.
Phillips 66 Price Performance
The firm has a 50 day moving average price of $140.76 and a 200 day moving average price of $145.12. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.58. The stock has a market cap of $56.30 billion, a P/E ratio of 10.22, a P/E/G ratio of 2.10 and a beta of 1.34.
Phillips 66 (NYSE:PSX – Get Free Report) last posted its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.90 EPS for the quarter, missing the consensus estimate of $2.05 by ($0.15). Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. The company had revenue of $36.44 billion during the quarter, compared to the consensus estimate of $35.87 billion. During the same period last year, the business earned $4.21 EPS. On average, analysts forecast that Phillips 66 will post 10.99 EPS for the current fiscal year.
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.