TD Cowen Issues Positive Forecast for Phillips 66 (NYSE:PSX) Stock Price

Phillips 66 (NYSE:PSX) had its price target increased by investment analysts at TD Cowen from $140.00 to $145.00 in a report issued on Thursday. The brokerage currently has a “buy” rating on the oil and gas company’s stock. TD Cowen’s price target points to a potential upside of 5.10% from the stock’s current price.

A number of other analysts have also recently commented on PSX. Bank of America cut Phillips 66 from a “buy” rating to a “neutral” rating and upped their price target for the company from $144.00 to $147.00 in a research note on Wednesday, September 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Phillips 66 in a research report on Wednesday, October 8th. Citigroup downgraded shares of Phillips 66 from a “buy” rating to a “neutral” rating and increased their price target for the company from $126.00 to $130.00 in a research report on Wednesday, July 16th. Jefferies Financial Group increased their price target on shares of Phillips 66 from $133.00 to $137.00 and gave the company a “hold” rating in a research report on Friday, October 10th. Finally, Piper Sandler increased their price target on shares of Phillips 66 from $154.00 to $155.00 and gave the company a “neutral” rating in a research report on Monday, September 29th. Three equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have given a Hold rating to the company’s stock. Based on data from MarketBeat, Phillips 66 presently has an average rating of “Moderate Buy” and a consensus price target of $142.19.

Phillips 66 Price Performance

Shares of PSX stock opened at $137.96 on Thursday. The stock has a 50-day moving average price of $132.28 and a 200 day moving average price of $122.90. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.60. The firm has a market cap of $55.75 billion, a price-to-earnings ratio of 33.16, a PEG ratio of 1.75 and a beta of 1.11. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $142.35.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Wednesday, October 29th. The oil and gas company reported $2.52 EPS for the quarter, topping analysts’ consensus estimates of $2.14 by $0.38. The firm had revenue of $33.69 billion during the quarter, compared to analyst estimates of $32.29 billion. Phillips 66 had a return on equity of 4.87% and a net margin of 1.27%.During the same period last year, the company earned $2.04 earnings per share. Research analysts expect that Phillips 66 will post 6.8 EPS for the current year.

Insider Activity

In other news, EVP Vanessa Allen Sutherland sold 4,393 shares of Phillips 66 stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $140.00, for a total transaction of $615,020.00. Following the transaction, the executive vice president owned 34,587 shares in the company, valued at $4,842,180. The trade was a 11.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gregory Hayes acquired 8,350 shares of the business’s stock in a transaction dated Thursday, August 14th. The shares were acquired at an average price of $119.90 per share, for a total transaction of $1,001,165.00. Following the acquisition, the director directly owned 29,423 shares in the company, valued at $3,527,817.70. This represents a 39.62% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 0.22% of the company’s stock.

Institutional Investors Weigh In On Phillips 66

Several institutional investors have recently bought and sold shares of PSX. Evolution Wealth Management Inc. bought a new stake in Phillips 66 in the 2nd quarter valued at approximately $25,000. Wolff Wiese Magana LLC lifted its stake 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 valued at $26,000 after acquiring an additional 82 shares in the last quarter. von Borstel & Associates Inc. bought a new stake in Phillips 66 in the 1st quarter valued at approximately $27,000. Olde Wealth Management LLC bought a new stake in Phillips 66 in the 1st quarter valued at approximately $28,000. Finally, Pinpoint Asset Management Ltd bought a new stake in Phillips 66 in the 1st quarter valued at approximately $29,000. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Company Profile

Phillips 66 operates as an energy manufacturing and logistics company in the United States, the United Kingdom, Germany, and internationally. 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.