Phillips 66 (NYSE:PSX) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Phillips 66 (NYSE:PSX) had its price target upped by Wells Fargo & Company from $161.00 to $162.00 in a research note released on Monday,Benzinga reports. The firm currently has an overweight rating on the oil and gas company’s stock.

Several other brokerages also recently commented on PSX. Mizuho cut their target price on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. Piper Sandler downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Wolfe Research upgraded shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target for the company in a research report on Friday, January 3rd. UBS Group lowered their price objective on Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Finally, Barclays reduced their target price on Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. One analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $148.00.

Phillips 66 Price Performance

NYSE PSX opened at $123.31 on Monday. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The company has a market cap of $50.93 billion, a PE ratio of 24.96, a price-to-earnings-growth ratio of 3.89 and a beta of 1.37. Phillips 66 has a 52 week low of $108.90 and a 52 week high of $174.08. The firm’s 50-day simple moving average is $120.01 and its two-hundred day simple moving average is $128.15.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) EPS for the quarter, missing the consensus estimate of $1.23 by ($1.38). Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. During the same quarter in the prior year, the company earned $3.09 earnings per share. Research analysts predict that Phillips 66 will post 7.57 earnings per share for the current year.

Hedge Funds Weigh In On Phillips 66

A number of large investors have recently added to or reduced their stakes in the business. Van ECK Associates Corp increased its stake in shares of Phillips 66 by 263.3% in the third quarter. Van ECK Associates Corp now owns 83,278 shares of the oil and gas company’s stock worth $10,753,000 after buying an additional 60,355 shares during the period. Everence Capital Management Inc. bought a new stake in Phillips 66 in the 4th quarter worth $3,033,000. Donoghue Forlines LLC purchased a new position in shares of Phillips 66 in the fourth quarter valued at about $1,438,000. Mizuho Securities USA LLC raised 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 valued at $328,625,000 after acquiring an additional 2,467,316 shares during the last quarter. Finally, Smith Group Asset Management LLC purchased a new stake in shares of Phillips 66 during the fourth quarter worth about $1,149,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

About Phillips 66

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.