Phillips 66 (NYSE:PSX) Stock Price Expected to Rise, Jefferies Financial Group Analyst Says

Phillips 66 (NYSE:PSX) had its price objective raised by Jefferies Financial Group from $173.00 to $191.00 in a research report issued to clients and investors on Tuesday,MarketScreener reports. The firm presently has a “hold” rating on the oil and gas company’s stock. Jefferies Financial Group’s price objective would suggest a potential upside of 6.15% from the company’s previous close.

A number of other research firms also recently issued reports on PSX. Wall Street Zen downgraded shares of Phillips 66 from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 16th. Argus lifted their price target on shares of Phillips 66 from $185.00 to $197.00 and gave the company a “buy” rating in a research report on Thursday, May 14th. BMO Capital Markets boosted their price target on Phillips 66 from $195.00 to $215.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. Citigroup raised their price objective on Phillips 66 from $159.00 to $183.00 and gave the stock a “neutral” rating in a research note on Thursday, April 9th. Finally, Wells Fargo & Company lifted their price objective on Phillips 66 from $163.00 to $201.00 and gave the company an “overweight” rating in a report on Tuesday, March 31st. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $188.94.

Phillips 66 Stock Performance

PSX stock traded up $2.24 during trading hours on Tuesday, hitting $179.93. 120,236 shares of the stock were exchanged, compared to its average volume of 2,918,200. Phillips 66 has a 12 month low of $111.19 and a 12 month high of $190.61. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $72.14 billion, a P/E ratio of 17.73, a P/E/G ratio of 0.26 and a beta of 0.70. The company has a 50-day simple moving average of $172.20 and a two-hundred day simple moving average of $153.71.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 EPS for the quarter, beating the consensus estimate of ($0.54) by $1.03. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. The business had revenue of $32.54 billion for the quarter, compared to the consensus estimate of $35.86 billion. During the same period in the prior year, the company posted ($0.90) earnings per share. Phillips 66’s revenue was up 6.9% compared to the same quarter last year. On average, analysts forecast that Phillips 66 will post 17.64 earnings per share for the current fiscal year.

Insider Activity

In other Phillips 66 news, Director Kevin Omar Meyers bought 175 shares of the business’s stock in a transaction on Wednesday, May 6th. The stock was purchased at an average cost of $173.12 per share, for a total transaction of $30,296.00. Following the completion of the purchase, the director directly owned 16,799 shares of the company’s stock, valued at approximately $2,908,242.88. This trade represents a 1.05% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Brian Mandell sold 42,800 shares of the firm’s stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $169.53, for a total value of $7,255,884.00. Following the completion of the sale, the executive vice president directly owned 61,595 shares in the company, valued at approximately $10,442,200.35. This represents a 41.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 114,029 shares of company stock valued at $19,641,455 in the last three months. Company insiders own 0.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of Phillips 66 by 11.6% in the 3rd quarter. Vanguard Group Inc. now owns 51,724,558 shares of the oil and gas company’s stock valued at $7,035,574,000 after purchasing an additional 5,356,558 shares in the last quarter. Norges Bank acquired a new position in shares of Phillips 66 during the fourth quarter worth $640,206,000. M&T Bank Corp raised its position in Phillips 66 by 462.9% in the fourth quarter. M&T Bank Corp now owns 2,727,888 shares of the oil and gas company’s stock valued at $352,007,000 after purchasing an additional 2,243,268 shares during the last quarter. AQR Capital Management LLC raised its holdings in Phillips 66 by 424.7% in the 3rd quarter. AQR Capital Management LLC now owns 1,893,195 shares of the oil and gas company’s stock valued at $257,512,000 after buying an additional 1,532,389 shares during the last quarter. Finally, Amundi boosted its position in Phillips 66 by 62.0% during the 1st quarter. Amundi now owns 3,667,451 shares of the oil and gas company’s stock worth $668,137,000 after buying an additional 1,403,493 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

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.