Phillips 66 (NYSE:PSX) Price Target Lowered to $151.00 at JPMorgan Chase & Co.

Phillips 66 (NYSE:PSX) had its price target reduced by equities research analysts at JPMorgan Chase & Co. from $154.00 to $151.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the oil and gas company’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 7.95% from the company’s current price.

Several other equities research analysts have also commented on the stock. Mizuho lifted their price target on shares of Phillips 66 from $150.00 to $152.00 and gave the stock a “neutral” rating in a research note on Monday. UBS Group restated a “buy” rating on shares of Phillips 66 in a research report on Tuesday, January 6th. Cowen restated a “buy” rating on shares of Phillips 66 in a report on Thursday, October 30th. Raymond James Financial dropped their price target on shares of Phillips 66 from $169.00 to $160.00 and set an “outperform” rating on the stock in a research note on Monday, December 22nd. Finally, Barclays boosted their price objective on Phillips 66 from $141.00 to $142.00 and gave the company an “equal weight” rating in a research report on Monday. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat, Phillips 66 currently has a consensus rating of “Moderate Buy” and an average target price of $149.06.

Phillips 66 Stock Performance

NYSE:PSX traded up $1.04 during mid-day trading on Tuesday, hitting $139.89. The company’s stock had a trading volume of 342,232 shares, compared to its average volume of 2,756,625. The business’s fifty day moving average is $135.88 and its two-hundred day moving average is $131.53. The stock has a market cap of $56.36 billion, a price-to-earnings ratio of 38.19, a PEG ratio of 0.39 and a beta of 0.90. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $145.68. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.23 and a quick ratio of 0.87.

Phillips 66 (NYSE:PSX) last released its earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.38. The business had revenue of $33.69 billion for the quarter, compared to the consensus estimate of $32.29 billion. Phillips 66 had a return on equity of 5.53% and a net margin of 1.12%.During the same quarter last year, the business posted $2.04 earnings per share. Analysts anticipate that Phillips 66 will post 6.8 EPS for the current fiscal year.

Insider Activity at Phillips 66

In other Phillips 66 news, EVP Vanessa Allen Sutherland sold 4,394 shares of the firm’s stock in a transaction that occurred on Friday, January 9th. The shares were sold at an average price of $145.00, for a total value of $637,130.00. Following the transaction, the executive vice president directly owned 30,193 shares of the company’s stock, valued at approximately $4,377,985. This trade represents a 12.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kevin J. Mitchell sold 30,000 shares of the stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $138.00, for a total value of $4,140,000.00. Following the sale, the chief financial officer directly owned 89,771 shares of the company’s stock, valued at approximately $12,388,398. The trade was a 25.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 86,094 shares of company stock worth $11,955,366 over the last 90 days. Insiders own 0.22% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Phillips 66 by 11.6% during the third quarter. Vanguard Group Inc. now owns 51,724,558 shares of the oil and gas company’s stock worth $7,035,574,000 after acquiring an additional 5,356,558 shares in the last quarter. Elliott Investment Management L.P. boosted its position in Phillips 66 by 22.4% during the second quarter. Elliott Investment Management L.P. now owns 19,251,000 shares of the oil and gas company’s stock worth $2,296,644,000 after purchasing an additional 3,526,000 shares during the period. Geode Capital Management LLC boosted its stake in Phillips 66 by 17.4% in the 2nd quarter. Geode Capital Management LLC now owns 10,327,304 shares of the oil and gas company’s stock worth $1,226,815,000 after purchasing an additional 1,532,967 shares during the period. Bank of New York Mellon Corp boosted its holdings in Phillips 66 by 6.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 9,394,750 shares of the oil and gas company’s stock valued at $1,120,794,000 after purchasing an additional 537,245 shares during the period. Finally, Norges Bank purchased a new stake in Phillips 66 in the second quarter valued at approximately $523,755,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Company Profile

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.