Phillips 66 (NYSE:PSX) Upgraded at Wolfe Research

Phillips 66 (NYSE:PSX) was upgraded by analysts at Wolfe Research from a “peer perform” rating to an “outperform” rating in a note issued to investors on Friday, MarketBeat Ratings reports. The brokerage presently has a $143.00 price objective on the oil and gas company’s stock. Wolfe Research’s price target would suggest a potential upside of 23.18% from the stock’s previous close.

A number of other research analysts have also recently commented on PSX. Barclays decreased their price objective on Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th. UBS Group decreased their price target on Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. TD Cowen cut their price objective on Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Piper Sandler set a $144.00 target price on shares of Phillips 66 in a research report on Thursday, October 17th. Finally, Scotiabank dropped their price target on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $148.57.

Phillips 66 Stock Up 1.5 %

Shares of NYSE:PSX opened at $116.09 on Friday. Phillips 66 has a 52-week low of $108.90 and a 52-week high of $174.08. The stock has a market cap of $47.94 billion, a P/E ratio of 14.90, a PEG ratio of 4.06 and a beta of 1.35. The business has a fifty day moving average of $123.89 and a two-hundred day moving average of $131.26. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.41. The firm had revenue of $36.16 billion during the quarter, compared to analysts’ expectations of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. Phillips 66’s revenue was down 10.3% compared to the same quarter last year. During the same period last year, the business earned $4.63 earnings per share. On average, research analysts expect that Phillips 66 will post 7.56 earnings per share for the current year.

Institutional Investors Weigh In On Phillips 66

Large investors have recently bought and sold shares of the stock. Van ECK Associates Corp increased its position in shares of Phillips 66 by 263.3% in the 3rd quarter. Van ECK Associates Corp now owns 83,278 shares of the oil and gas company’s stock valued at $10,753,000 after purchasing an additional 60,355 shares during the last quarter. Mizuho Securities USA LLC grew its stake in shares of Phillips 66 by 7,549.0% during the third quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock worth $328,625,000 after purchasing an additional 2,467,316 shares in the last quarter. Everence Capital Management Inc. purchased a new position in Phillips 66 in the fourth quarter valued at $3,033,000. Nwam LLC acquired a new stake in Phillips 66 in the third quarter valued at $498,000. Finally, Principal Financial Group Inc. lifted its holdings in Phillips 66 by 2.8% during the 3rd quarter. Principal Financial Group Inc. now owns 530,807 shares of the oil and gas company’s stock worth $69,775,000 after buying an additional 14,209 shares during the last quarter. Hedge funds and other 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.