Phillips 66 (NYSE:PSX) Given New $95.00 Price Target at Credit Suisse Group

Phillips 66 (NYSE:PSX) had its price objective increased by equities research analysts at Credit Suisse Group from $90.00 to $95.00 in a research note issued to investors on Wednesday, The Fly reports. The firm presently has an “outperform” rating on the oil and gas company’s stock. Credit Suisse Group’s price target would suggest a potential upside of 13.60% from the stock’s previous close.

Other research analysts have also recently issued research reports about the stock. Raymond James lifted their target price on shares of Phillips 66 from $80.00 to $100.00 and gave the company an “outperform” rating in a research note on Tuesday, March 23rd. Barclays lifted their price target on shares of Phillips 66 from $75.00 to $88.00 and gave the stock an “overweight” rating in a research report on Monday, March 8th. Cowen lowered their target price on shares of Phillips 66 from $83.00 to $80.00 and set an “outperform” rating for the company in a report on Monday, February 1st. Morgan Stanley raised their price target on Phillips 66 from $82.00 to $105.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 17th. Finally, Zacks Investment Research raised Phillips 66 from a “sell” rating to a “hold” rating and set a $89.00 target price on the stock in a research note on Thursday, March 4th. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $83.72.

NYSE:PSX opened at $83.63 on Wednesday. The stock has a fifty day simple moving average of $80.78 and a 200 day simple moving average of $72.71. The company has a quick ratio of 0.75, a current ratio of 1.22 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $36.62 billion, a price-to-earnings ratio of -13.55, a price-to-earnings-growth ratio of 3.65 and a beta of 1.67. Phillips 66 has a 1-year low of $43.27 and a 1-year high of $90.59.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Thursday, April 29th. The oil and gas company reported ($1.16) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.40) by $0.24. Phillips 66 had a negative net margin of 3.45% and a positive return on equity of 3.38%. During the same period in the prior year, the firm posted $1.02 earnings per share. Equities analysts predict that Phillips 66 will post -0.65 earnings per share for the current year.

In other news, CEO Greg C. Garland sold 158,500 shares of the stock in a transaction that occurred on Thursday, March 11th. The stock was sold at an average price of $88.50, for a total value of $14,027,250.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.63% of the company’s stock.

Large investors have recently modified their holdings of the stock. Ninety One UK Ltd lifted its position in shares of Phillips 66 by 9.4% in the fourth quarter. Ninety One UK Ltd now owns 277,477 shares of the oil and gas company’s stock valued at $19,407,000 after buying an additional 23,808 shares during the last quarter. FDx Advisors Inc. boosted its position in Phillips 66 by 8.0% during the first quarter. FDx Advisors Inc. now owns 36,855 shares of the oil and gas company’s stock worth $3,005,000 after purchasing an additional 2,741 shares during the period. Associated Banc Corp increased its holdings in shares of Phillips 66 by 12.9% in the fourth quarter. Associated Banc Corp now owns 234,124 shares of the oil and gas company’s stock valued at $16,375,000 after purchasing an additional 26,675 shares during the last quarter. Wedbush Securities Inc. raised its position in shares of Phillips 66 by 26.5% in the first quarter. Wedbush Securities Inc. now owns 16,874 shares of the oil and gas company’s stock valued at $1,376,000 after purchasing an additional 3,539 shares during the period. Finally, RNC Capital Management LLC lifted its stake in shares of Phillips 66 by 31.4% during the 1st quarter. RNC Capital Management LLC now owns 356,502 shares of the oil and gas company’s stock worth $29,069,000 after buying an additional 85,164 shares during the last quarter. Institutional investors and hedge funds own 64.56% of the company’s stock.

About Phillips 66

Phillips 66 operates as an energy manufacturing and logistics company. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks; delivers refined petroleum products to market; provides terminaling and storage services for crude oil and refined petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.

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