TD Cowen Issues Pessimistic Forecast for Phillips 66 (NYSE:PSX) Stock Price

Phillips 66 (NYSE:PSX - Get Free Report) had its price objective reduced by stock analysts at TD Cowen from $127.00 to $114.00 in a report released on Monday,Briefing.com Automated Import reports. The brokerage currently has a "buy" rating on the oil and gas company's stock. TD Cowen's price objective would indicate a potential upside of 9.63% from the stock's previous close.

PSX has been the subject of several other research reports. The Goldman Sachs Group downgraded shares of Phillips 66 from a "buy" rating to a "neutral" rating and set a $132.00 target price for the company. in a report on Thursday, March 27th. Raymond James dropped their target price on shares of Phillips 66 from $150.00 to $140.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. Wells Fargo & Company upped their target price on Phillips 66 from $161.00 to $162.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Mizuho decreased their target price on Phillips 66 from $140.00 to $132.00 and set a "neutral" rating for the company in a research report on Wednesday, April 9th. Finally, StockNews.com cut shares of Phillips 66 from a "hold" rating to a "sell" rating in a report on Sunday, March 2nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $137.86.

Phillips 66 Trading Down 0.7 %

PSX opened at $103.98 on Monday. The firm has a market capitalization of $42.37 billion, a PE ratio of 21.05, a P/E/G ratio of 4.84 and a beta of 1.17. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $152.19. The company's 50-day moving average is $115.80 and its 200 day moving average is $121.04.

Phillips 66 (NYSE:PSX - Get Free Report) last announced its earnings results on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.97). The company had revenue of $31.92 billion for the quarter, compared to analysts' expectations of $31.93 billion. Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same period in the previous year, the firm earned $1.90 EPS. As a group, research analysts predict that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Phillips 66

Large investors have recently added to or reduced their stakes in the company. Bogart Wealth LLC lifted its position in Phillips 66 by 120.0% in the 4th quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company's stock worth $25,000 after buying an additional 120 shares during the last quarter. J.Safra Asset Management Corp purchased a new position in shares of Phillips 66 during the fourth quarter worth approximately $25,000. Opal Wealth Advisors LLC purchased a new position in shares of Phillips 66 during the first quarter worth approximately $29,000. Pacific Center for Financial Services bought a new stake in shares of Phillips 66 in the 4th quarter worth approximately $27,000. Finally, Smallwood Wealth Investment Management LLC purchased a new stake in shares of Phillips 66 in the 1st quarter valued at $29,000. 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.

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