Phillips 66 (NYSE:PSX) Given New $167.00 Price Target at Wells Fargo & Company

Phillips 66 (NYSE:PSX - Free Report) had its price target cut by Wells Fargo & Company from $182.00 to $167.00 in a research note released on Wednesday morning, Benzinga reports. The firm currently has an overweight rating on the oil and gas company's stock.

Several other brokerages also recently weighed in on PSX. Piper Sandler upped their price target on Phillips 66 from $136.00 to $144.00 and gave the stock an overweight rating in a report on Tuesday. Wolfe Research assumed coverage on shares of Phillips 66 in a research note on Thursday, July 18th. They set a peer perform rating on the stock. TD Cowen decreased their price target on shares of Phillips 66 from $162.00 to $150.00 and set a buy rating for the company in a research note on Wednesday, September 11th. Mizuho dropped their price objective on shares of Phillips 66 from $154.00 to $150.00 and set a neutral rating on the stock in a research report on Monday, September 16th. Finally, Raymond James raised their price objective on shares of Phillips 66 from $150.00 to $155.00 and gave the company an outperform rating in a report on Wednesday, July 31st. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $151.86.

Phillips 66 Stock Up 1.8 %

Shares of PSX stock traded up $2.39 during trading on Wednesday, reaching $134.72. The company's stock had a trading volume of 1,494,216 shares, compared to its average volume of 2,721,835. Phillips 66 has a 1-year low of $107.85 and a 1-year high of $174.08. The stock's 50-day moving average price is $133.50 and its 200 day moving average price is $141.83. The company has a market capitalization of $57.11 billion, a price-to-earnings ratio of 10.27, a P/E/G ratio of 5.46 and a beta of 1.33. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 0.79.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 EPS for the quarter, topping the consensus estimate of $1.98 by $0.33. The business had revenue of $38.91 billion during the quarter, compared to the consensus estimate of $37.79 billion. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The company's quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.87 earnings per share. On average, research analysts anticipate that Phillips 66 will post 8.21 EPS for the current year.

Insider Activity at Phillips 66

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the business's 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 completion of the sale, the chief financial officer now owns 81,937 shares in the company, valued at approximately $11,390,062.37. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.22% of the company's stock.

Institutional Investors Weigh In On Phillips 66

A number of institutional investors and hedge funds have recently made changes to their positions in PSX. BWM Planning LLC acquired a new position in Phillips 66 in the 3rd quarter valued at about $1,083,000. Virginia Wealth Management Group Inc. grew its stake in shares of Phillips 66 by 22.9% in the 3rd quarter. Virginia Wealth Management Group Inc. now owns 30,067 shares of the oil and gas company's stock valued at $3,952,000 after purchasing an additional 5,604 shares during the last quarter. CCM Investment Advisers LLC raised its stake in shares of Phillips 66 by 15.9% during the third quarter. CCM Investment Advisers LLC now owns 105,150 shares of the oil and gas company's stock worth $13,822,000 after purchasing an additional 14,425 shares during the last quarter. San Luis Wealth Advisors LLC raised its stake in shares of Phillips 66 by 101.1% during the third quarter. San Luis Wealth Advisors LLC now owns 5,153 shares of the oil and gas company's stock worth $677,000 after purchasing an additional 2,590 shares during the last quarter. Finally, Hoese & Co LLP lifted its holdings in shares of Phillips 66 by 33.1% during the third quarter. Hoese & Co LLP now owns 402 shares of the oil and gas company's stock worth $53,000 after purchasing an additional 100 shares during the period. 76.93% of the stock is owned by hedge funds and other institutional investors.

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.