Citigroup Boosts Phillips 66 (NYSE:PSX) Price Target to $183.00

Phillips 66 (NYSE:PSX) had its price target boosted by Citigroup from $159.00 to $183.00 in a research report issued on Thursday,MarketScreener reports. The brokerage currently has a “neutral” rating on the oil and gas company’s stock. Citigroup’s target price indicates a potential upside of 9.04% from the stock’s current price.

Other analysts have also recently issued reports about the company. TD Cowen boosted their price target on Phillips 66 from $155.00 to $213.00 and gave the stock a “buy” rating in a report on Wednesday, April 1st. Zacks Research downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 16th. Morgan Stanley increased their price objective on Phillips 66 from $140.00 to $147.00 and gave the company an “equal weight” rating in a report on Thursday, February 5th. JPMorgan Chase & Co. upped their price target on Phillips 66 from $161.00 to $188.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Wall Street Zen upgraded Phillips 66 from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 14th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $180.39.

Phillips 66 Price Performance

Shares of NYSE:PSX opened at $167.82 on Thursday. The firm has a 50 day simple moving average of $165.02 and a 200 day simple moving average of $145.90. The company has a market cap of $67.25 billion, a price-to-earnings ratio of 15.56, a PEG ratio of 0.31 and a beta of 0.76. Phillips 66 has a one year low of $93.50 and a one year high of $190.61. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.30 and a quick ratio of 0.91.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.32. Phillips 66 had a return on equity of 9.13% and a net margin of 3.22%.The company had revenue of $32.16 billion during the quarter, compared to analysts’ expectations of $33.81 billion. During the same period in the prior year, the company earned ($0.15) EPS. Research analysts predict that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, CFO Kevin J. Mitchell sold 15,629 shares of the firm’s stock in a transaction on Monday, March 30th. The shares were sold at an average price of $190.07, for a total value of $2,970,604.03. Following the completion of the sale, the chief financial officer directly owned 97,376 shares in the company, valued at approximately $18,508,256.32. This trade represents a 13.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Lisa Ann Davis sold 3,800 shares of the company’s stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $174.37, for a total transaction of $662,606.00. Following the transaction, the director owned 8,701 shares in the company, valued at $1,517,193.37. This represents a 30.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 100,317 shares of company stock valued at $17,036,749 over the last ninety days. Insiders own 0.22% of the company’s stock.

Institutional Investors Weigh In On Phillips 66

Hedge funds have recently added to or reduced their stakes in the company. Old North State Trust LLC raised its position in shares of Phillips 66 by 10.8% during the fourth quarter. Old North State Trust LLC now owns 5,664 shares of the oil and gas company’s stock worth $731,000 after purchasing an additional 552 shares during the period. Rockefeller Capital Management L.P. grew its position in Phillips 66 by 5.4% in the 4th quarter. Rockefeller Capital Management L.P. now owns 150,396 shares of the oil and gas company’s stock valued at $19,407,000 after purchasing an additional 7,758 shares during the period. World Investment Advisors increased its stake in Phillips 66 by 5.1% during the 4th quarter. World Investment Advisors now owns 12,407 shares of the oil and gas company’s stock valued at $1,601,000 after purchasing an additional 599 shares in the last quarter. Green Ridge Wealth Planning LLC acquired a new position in Phillips 66 during the fourth quarter worth $250,000. Finally, Bayban bought a new position in shares of Phillips 66 in the fourth quarter valued at $58,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 News Summary

Here are the key news stories impacting Phillips 66 this week:

• Positive Sentiment: Several brokerages raised price targets and kept constructive ratings on PSX, giving upside to the shares: JPMorgan raised its target to $188 (overweight), BMO to $195 (outperform) and others lifted targets into the high?$160s–$190s — these actions provide near?term buying support and signal continued analyst confidence. JPMorgan Raises PT
• Positive Sentiment: Wolfe Research reiterated a bullish outlook, saying Phillips 66’s stock is expected to rise — this adds another institutional voice supporting the rally. Wolfe Research Note
• Neutral Sentiment: Macro/sector context: oil has surged sharply since the Iran conflict began (reported up ~70% in recent trading days), which lifts refining margins potential but also increases volatility and mark?to?market swings for hedged positions. This is background that can swing PSX both ways. Oil Surge Context
• Neutral Sentiment: Analyst commentary and valuation pieces note Phillips 66 has executed well but some argue the stock has already priced in much of the good news — that view can cap upside until fundamentals confirm further improvement. Seeking Alpha Analysis
• Negative Sentiment: Phillips 66 disclosed an approximately $900 million derivatives loss as oil and diesel spiked; the refining segment is expected to absorb $350–$450 million of that mark?to?market hit. That large one?time loss is pressuring near?term results and the stock while increasing earnings volatility. Derivatives Loss Report
• Negative Sentiment: Short?term price action has shown intraday weakness and recent sessions of slide as the market digests the mark?to?market hit and broader market moves. That selling pressure can persist until clarity on realized earnings/hedge outcomes emerges. Price Slide Coverage

About Phillips 66

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.