Phillips 66 (NYSE:PSX) Price Target Cut to $115.00 by Analysts at Barclays

Phillips 66 (NYSE:PSX - Get Free Report) had its price objective decreased by Barclays from $124.00 to $115.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has an "equal weight" rating on the oil and gas company's stock. Barclays's target price suggests a potential downside of 0.88% from the company's previous close.

A number of other research analysts also recently commented on PSX. Wells Fargo & Company dropped their target price on shares of Phillips 66 from $167.00 to $161.00 and set an "overweight" rating on the stock in a research report on Monday, December 9th. UBS Group dropped their price objective on shares of Phillips 66 from $150.00 to $138.00 and set a "buy" rating on the stock in a research note on Monday, November 4th. Morgan Stanley decreased their price target on Phillips 66 from $150.00 to $144.00 and set an "equal weight" rating for the company in a report on Monday, September 16th. Bank of America initiated coverage on shares of Phillips 66 in a research report on Thursday, October 17th. They set a "buy" rating and a $156.00 price objective for the company. Finally, Piper Sandler set a $144.00 price target on shares of Phillips 66 in a research note on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Phillips 66 presently has an average rating of "Moderate Buy" and a consensus target price of $147.93.

Phillips 66 Stock Up 1.8 %

PSX stock traded up $2.09 during midday trading on Monday, hitting $116.02. The company's stock had a trading volume of 4,153,585 shares, compared to its average volume of 3,021,681. The firm has a 50-day simple moving average of $123.00 and a 200-day simple moving average of $130.20. The firm has a market capitalization of $47.91 billion, a P/E ratio of 14.89, a PEG ratio of 4.06 and a beta of 1.38. 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 has a 52-week low of $108.90 and a 52-week high of $174.08.

Phillips 66 (NYSE:PSX - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, beating analysts' consensus estimates of $1.63 by $0.41. The company had revenue of $36.16 billion for the quarter, compared to the consensus estimate of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The company's quarterly revenue was down 10.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.63 EPS. As a group, equities analysts forecast that Phillips 66 will post 7.56 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Legal & General Group Plc boosted its position in Phillips 66 by 0.5% during the 2nd quarter. Legal & General Group Plc now owns 3,699,370 shares of the oil and gas company's stock worth $522,240,000 after purchasing an additional 18,238 shares during the period. Dimensional Fund Advisors LP lifted its position in Phillips 66 by 3.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,643,264 shares of the oil and gas company's stock worth $514,253,000 after acquiring an additional 111,261 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Phillips 66 by 0.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,901,887 shares of the oil and gas company's stock worth $381,453,000 after acquiring an additional 16,941 shares during the period. Barrow Hanley Mewhinney & Strauss LLC grew its position in Phillips 66 by 2.9% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,813,579 shares of the oil and gas company's stock valued at $397,193,000 after acquiring an additional 79,301 shares in the last quarter. Finally, Mizuho Securities USA LLC lifted its holdings in Phillips 66 by 7,549.0% in the 3rd quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company's stock worth $328,625,000 after buying an additional 2,467,316 shares in the last quarter. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

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.