Phillips 66 (NYSE:PSX) Given New $164.00 Price Target at The Goldman Sachs Group

Phillips 66 (NYSE:PSX) had its target price raised by The Goldman Sachs Group from $152.00 to $164.00 in a report released on Thursday,MarketScreener reports. They currently have a neutral rating on the oil and gas company’s stock.

A number of other equities research analysts have also recently weighed in on PSX. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Phillips 66 in a report on Thursday. Wolfe Research raised their price objective on shares of Phillips 66 from $158.00 to $160.00 and gave the company an “outperform” rating in a research note on Friday, December 5th. UBS Group reaffirmed a “buy” rating on shares of Phillips 66 in a research note on Tuesday, January 6th. Zacks Research cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 16th. Finally, Jefferies Financial Group boosted their price target on shares of Phillips 66 from $133.00 to $137.00 and gave the stock a “hold” rating in a research report on Friday, October 10th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and thirteen have assigned a Hold rating to the company. Based on data from MarketBeat, Phillips 66 has an average rating of “Hold” and a consensus price target of $153.53.

Phillips 66 Stock Performance

PSX traded down $0.42 during trading hours on Thursday, hitting $141.51. 2,046,767 shares of the stock were exchanged, compared to its average volume of 2,216,975. The stock has a market cap of $57.02 billion, a price-to-earnings ratio of 38.66, a price-to-earnings-growth ratio of 0.41 and a beta of 0.90. The stock has a 50-day simple moving average of $136.13 and a 200-day simple moving average of $132.42. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.23 and a quick ratio of 0.87. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $146.88.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share for the quarter, topping analysts’ consensus estimates of $2.14 by $0.38. Phillips 66 had a return on equity of 5.53% and a net margin of 1.12%.The business had revenue of $33.69 billion for the quarter, compared to analysts’ expectations of $32.29 billion. During the same period in the prior year, the firm earned $2.04 EPS. Analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current year.

Insider Buying and Selling at Phillips 66

In other news, EVP Brian Mandell sold 26,200 shares of the business’s stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $137.68, for a total transaction 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 position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Vanessa Allen Sutherland sold 4,394 shares of Phillips 66 stock in a transaction on Friday, January 9th. The shares were sold at an average price of $145.00, for a total value of $637,130.00. Following the sale, the executive vice president directly owned 30,193 shares of the company’s stock, valued at approximately $4,377,985. The trade was a 12.70% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 86,094 shares of company stock worth $11,955,366. 0.22% of the stock is currently owned by company insiders.

Institutional Trading of Phillips 66

Several large investors have recently made changes to their positions in the stock. Evolution Wealth Management Inc. bought a new position in shares of Phillips 66 in the second quarter valued at approximately $25,000. Wolff Wiese Magana LLC increased its position in Phillips 66 by 62.1% in the 2nd quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock worth $26,000 after buying an additional 82 shares during the period. Board of the Pension Protection Fund bought a new position in Phillips 66 in the 4th quarter worth approximately $26,000. Accordant Advisory Group Inc lifted its holdings in shares of Phillips 66 by 900.0% during the fourth quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company’s stock worth $26,000 after buying an additional 180 shares during the last quarter. Finally, Eagle Bay Advisors LLC acquired a new position in Phillips 66 during the 4th quarter valued at $27,000. Institutional investors 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.