BMO Capital Markets Issues Positive Forecast for Phillips 66 (NYSE:PSX) Stock Price

Phillips 66 (NYSE:PSX) had its target price hoisted by equities research analysts at BMO Capital Markets from $175.00 to $195.00 in a report released on Tuesday,MarketScreener reports. The brokerage currently has an “outperform” rating on the oil and gas company’s stock. BMO Capital Markets’ price target would suggest a potential upside of 17.85% from the company’s previous close.

PSX has been the subject of a number of other reports. Citigroup boosted their price objective on Phillips 66 from $146.00 to $159.00 and gave the stock a “neutral” rating in a research report on Monday, February 9th. Argus boosted their price objective on Phillips 66 from $152.00 to $185.00 and gave the stock a “buy” rating in a research report on Tuesday, February 10th. Weiss Ratings raised Phillips 66 from a “hold (c)” rating to a “buy (b-)” rating in a research report on Monday, February 23rd. Jefferies Financial Group raised Phillips 66 from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 16th. Finally, Scotiabank raised Phillips 66 to a “hold” rating in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $179.06.

Phillips 66 Stock Performance

PSX opened at $165.47 on Tuesday. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $190.61. The company has a current ratio of 1.30, a quick ratio of 0.91 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $66.31 billion, a PE ratio of 15.29, a P/E/G ratio of 0.31 and a beta of 0.76. The firm has a 50 day moving average of $164.51 and a two-hundred day moving average of $145.74.

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

Insider Transactions at Phillips 66

In other news, Director Lisa Ann Davis sold 3,800 shares of the stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $174.37, for a total value of $662,606.00. Following the completion of the sale, the director directly owned 8,701 shares of the company’s stock, valued at approximately $1,517,193.37. This represents a 30.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Don Baldridge sold 7,500 shares of the stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $160.00, for a total value of $1,200,000.00. Following the completion of the sale, the executive vice president directly owned 38,488 shares of the company’s stock, valued at $6,158,080. The trade was a 16.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 100,317 shares of company stock valued at $17,036,749 over the last three months. 0.22% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Phillips 66

Large investors have recently modified their holdings of the company. Elliott Investment Management L.P. boosted its holdings in shares of Phillips 66 by 22.4% in the second quarter. Elliott Investment Management L.P. now owns 19,251,000 shares of the oil and gas company’s stock valued at $2,296,644,000 after acquiring an additional 3,526,000 shares during the period. Oppenheimer & Co. Inc. boosted its holdings in shares of Phillips 66 by 57.4% in the third quarter. Oppenheimer & Co. Inc. now owns 56,858 shares of the oil and gas company’s stock valued at $7,734,000 after acquiring an additional 20,742 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its holdings in shares of Phillips 66 by 5.0% in the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 209,700 shares of the oil and gas company’s stock valued at $28,523,000 after acquiring an additional 10,000 shares during the period. TD Asset Management Inc boosted its holdings in shares of Phillips 66 by 15.5% in the third quarter. TD Asset Management Inc now owns 174,413 shares of the oil and gas company’s stock valued at $23,724,000 after acquiring an additional 23,364 shares during the period. Finally, First National Bank of Omaha acquired a new stake in shares of Phillips 66 in the third quarter valued at approximately $2,357,000. 76.93% of the stock is owned by institutional investors and hedge funds.

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.