Phillips 66 (NYSE:PSX) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Phillips 66 (NYSE:PSX) had its price objective boosted by research analysts at The Goldman Sachs Group from $152.00 to $164.00 in a research report issued to clients and investors on Thursday,MarketScreener reports. The brokerage presently has a “neutral” rating on the oil and gas company’s stock. The Goldman Sachs Group’s price target indicates a potential upside of 15.90% from the company’s previous close.

A number of other research firms have also weighed in on PSX. JPMorgan Chase & Co. reduced their price objective on shares of Phillips 66 from $154.00 to $151.00 and set an “overweight” rating for the company in a research note on Tuesday, January 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of Phillips 66 in a report on Thursday. Jefferies Financial Group boosted their price objective on shares of Phillips 66 from $133.00 to $137.00 and gave the stock a “hold” rating in a report on Friday, October 10th. Wall Street Zen cut Phillips 66 from a “buy” rating to a “hold” rating in a research report on Saturday, December 20th. Finally, Barclays lifted their target price on Phillips 66 from $141.00 to $142.00 and gave the stock an “equal weight” rating in a report on Monday, January 12th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and thirteen have given a Hold rating to the company. According to data from MarketBeat.com, Phillips 66 has an average rating of “Hold” and a consensus price target of $153.53.

Phillips 66 Stock Down 0.3%

NYSE:PSX traded down $0.42 during trading hours on Thursday, reaching $141.51. 2,046,767 shares of the company traded hands, compared to its average volume of 2,216,975. The company has a current ratio of 1.23, a quick ratio of 0.87 and a debt-to-equity ratio of 0.68. The business’s 50-day moving average price is $136.13 and its two-hundred day moving average price is $132.42. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $146.88. The stock has a market capitalization of $57.02 billion, a P/E ratio of 38.66, a P/E/G ratio of 0.41 and a beta of 0.90.

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

Insider Activity

In other news, EVP Vanessa Allen Sutherland sold 4,394 shares of the firm’s stock in a transaction on Friday, January 9th. The stock was 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 in the company, valued at $4,377,985. This trade represents a 12.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Brian Mandell sold 26,200 shares of Phillips 66 stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $137.68, for a total value of $3,607,216.00. Following the completion of the sale, the executive vice president directly owned 56,838 shares of the company’s stock, valued at $7,825,455.84. The trade was a 31.55% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 86,094 shares of company stock valued at $11,955,366 in the last ninety days. 0.22% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Phillips 66

Institutional investors and hedge funds have recently made changes to their positions in the business. TFC Financial Management Inc. increased its holdings in Phillips 66 by 45.2% during the fourth quarter. TFC Financial Management Inc. now owns 1,163 shares of the oil and gas company’s stock valued at $150,000 after buying an additional 362 shares during the last quarter. Farther Finance Advisors LLC increased its stake in shares of Phillips 66 by 56.8% in the 4th quarter. Farther Finance Advisors LLC now owns 30,961 shares of the oil and gas company’s stock worth $3,995,000 after purchasing an additional 11,214 shares in the last quarter. Tyche Wealth Partners LLC increased its stake in shares of Phillips 66 by 1.8% in the 4th quarter. Tyche Wealth Partners LLC now owns 5,763 shares of the oil and gas company’s stock worth $744,000 after purchasing an additional 100 shares in the last quarter. Assetmark Inc. raised its holdings in Phillips 66 by 123.6% in the 4th quarter. Assetmark Inc. now owns 7,360 shares of the oil and gas company’s stock worth $950,000 after purchasing an additional 4,069 shares during the period. Finally, Webster Bank N. A. lifted its position in Phillips 66 by 94.2% during the fourth quarter. Webster Bank N. A. now owns 501 shares of the oil and gas company’s stock valued at $65,000 after purchasing an additional 243 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

About Phillips 66

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.