Phillips 66 (NYSE:PSX) PT Lowered to $141.00

Phillips 66 (NYSE:PSX - Get Free Report) had its price objective reduced by research analysts at JPMorgan Chase & Co. from $160.00 to $141.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an "overweight" rating on the oil and gas company's stock. JPMorgan Chase & Co.'s price objective indicates a potential upside of 4.87% from the company's current price.

PSX has been the subject of a number of other reports. TD Cowen decreased their price objective on Phillips 66 from $162.00 to $150.00 and set a "buy" rating for the company in a report on Wednesday, September 11th. Morgan Stanley lowered their price objective on Phillips 66 from $150.00 to $144.00 and set an "equal weight" rating for the company in a research report on Monday, September 16th. Wolfe Research started coverage on Phillips 66 in a research note on Thursday, July 18th. They issued a "peer perform" rating on the stock. Scotiabank decreased their target price on shares of Phillips 66 from $156.00 to $145.00 and set a "sector outperform" rating for the company in a research report on Friday, July 12th. Finally, Wells Fargo & Company boosted their price target on shares of Phillips 66 from $176.00 to $182.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 3rd. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $152.71.

Phillips 66 Price Performance

Shares of PSX traded up $1.46 during mid-day trading on Wednesday, reaching $134.45. The company had a trading volume of 1,925,613 shares, compared to its average volume of 2,735,191. The company has a market capitalization of $56.28 billion, a price-to-earnings ratio of 10.29, a P/E/G ratio of 5.28 and a beta of 1.33. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.79 and a current ratio of 1.14. The company's 50 day simple moving average is $134.05 and its 200 day simple moving average is $142.60. Phillips 66 has a 1-year low of $107.85 and a 1-year high of $174.08.

Phillips 66 (NYSE:PSX - Get Free Report) last released its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.33. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The company had revenue of $38.91 billion for the quarter, compared to the consensus estimate of $37.79 billion. During the same quarter last year, the business posted $3.87 EPS. Phillips 66's revenue for the quarter was up 8.9% on a year-over-year basis. Analysts expect that Phillips 66 will post 8.27 EPS for the current year.

Insider Activity

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $139.01, for a total value of $4,170,300.00. Following the transaction, the chief financial officer now owns 81,937 shares in the company, valued at $11,390,062.37. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.22% of the stock is currently owned by company insiders.

Institutional Trading of Phillips 66

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Phillips 66 by 243.9% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 423,000 shares of the oil and gas company's stock valued at $59,715,000 after buying an additional 300,000 shares during the last quarter. Verity & Verity LLC boosted its stake in Phillips 66 by 3.3% during the 2nd quarter. Verity & Verity LLC now owns 61,143 shares of the oil and gas company's stock valued at $8,632,000 after purchasing an additional 1,926 shares during the last quarter. Heritage Wealth Management Inc. bought a new stake in Phillips 66 during the 2nd quarter worth approximately $1,036,000. Sanctuary Advisors LLC purchased a new stake in shares of Phillips 66 in the second quarter worth approximately $16,675,000. Finally, Strategic Investment Solutions Inc. IL bought a new position in shares of Phillips 66 in the second quarter valued at approximately $51,000. 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.