Phillips 66 (NYSE:PSX) Given New $152.00 Price Target at Mizuho

by · The Cerbat Gem

Phillips 66 (NYSE:PSX – Get Free Report) had its price target lifted by research analysts at Mizuho from $150.00 to $152.00 in a research report issued to clients and investors on Monday, Marketbeat Ratings reports. The brokerage currently has a “neutral” rating on the oil and gas company’s stock. Mizuho’s price target indicates a potential upside of 9.89% from the stock’s current price.

Several other equities analysts have also issued reports on PSX. Evercore ISI boosted their price objective on Phillips 66 from $130.00 to $170.00 and gave the company an “outperform” rating in a research report on Friday, September 19th. TD Cowen increased their price objective on shares of Phillips 66 from $140.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Wall Street Zen cut shares of Phillips 66 from a “buy” rating to a “hold” rating in a research report on Saturday, December 20th. Morgan Stanley increased their target price on Phillips 66 from $128.00 to $140.00 and gave the stock an “equal weight” rating in a report on Friday, October 3rd. Finally, UBS Group restated a “buy” rating on shares of Phillips 66 in a report on Tuesday, January 6th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Phillips 66 currently has a consensus rating of “Moderate Buy” and a consensus price target of $146.94.

Get Our Latest Research Report on PSX

Phillips 66 Trading Down 2.7%

NYSE PSX traded down $3.84 during trading on Monday, reaching $138.32. 464,661 shares of the stock traded hands, compared to its average volume of 2,821,907. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $145.68. The company has a quick ratio of 0.87, a current ratio of 1.23 and a debt-to-equity ratio of 0.68. The firm has a market cap of $55.73 billion, a price-to-earnings ratio of 37.82, a price-to-earnings-growth ratio of 0.39 and a beta of 0.90. The stock’s 50-day moving average price is $135.86 and its 200 day moving average price is $131.40.

Phillips 66 (NYSE:PSX – Get Free Report) last issued its quarterly earnings data on Wednesday, October 29th. The oil and gas company reported $2.52 EPS for the quarter, topping the consensus estimate of $2.14 by $0.38. The business had revenue of $33.69 billion for the quarter, compared to the consensus estimate of $32.29 billion. Phillips 66 had a return on equity of 5.53% and a net margin of 1.12%.During the same quarter last year, the business posted $2.04 EPS. Analysts predict that Phillips 66 will post 6.8 EPS for the current year.

Insider Buying and Selling

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $138.00, for a total value of $4,140,000.00. Following the sale, the chief financial officer owned 89,771 shares in the company, valued at $12,388,398. This represents a 25.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Brian Mandell sold 26,200 shares of the business’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $137.68, for a total value of $3,607,216.00. Following the transaction, the executive vice president directly owned 56,838 shares in the company, valued at $7,825,455.84. The trade was a 31.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 86,094 shares of company stock worth $11,955,366. Company insiders own 0.22% of the company’s stock.

Institutional Investors Weigh In On Phillips 66

A number of hedge funds and other institutional investors have recently modified their holdings of PSX. Brighton Jones LLC boosted its stake in shares of Phillips 66 by 238.5% in the 4th quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company’s stock valued at $1,166,000 after purchasing an additional 7,214 shares in the last quarter. Woodline Partners LP lifted its stake in Phillips 66 by 40.7% in the 1st quarter. Woodline Partners LP now owns 34,891 shares of the oil and gas company’s stock valued at $4,308,000 after purchasing an additional 10,089 shares during the last quarter. Modern Wealth Management LLC boosted its position in Phillips 66 by 35.9% in the first quarter. Modern Wealth Management LLC now owns 4,052 shares of the oil and gas company’s stock valued at $500,000 after buying an additional 1,071 shares in the last quarter. Legacy Private Trust Co. grew its stake in shares of Phillips 66 by 3.3% during the second quarter. Legacy Private Trust Co. now owns 3,007 shares of the oil and gas company’s stock worth $359,000 after buying an additional 95 shares during the last quarter. Finally, Livelsberger Financial Advisory acquired a new position in shares of Phillips 66 during the second quarter worth $54,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

About Phillips 66

(Get Free Report)

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.

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