Raymond James Trims Phillips 66 (NYSE:PSX) Target Price to $125.00

Phillips 66 (NYSE:PSX) had its price objective reduced by Raymond James from $130.00 to $125.00 in a report released on Thursday, January 9th, AnalystRatings.com reports. They currently have an outperform rating on the oil and gas company’s stock.

Several other equities analysts also recently commented on PSX. Morgan Stanley boosted their price objective on Phillips 66 from $115.00 to $125.00 and gave the company an equal weight rating in a research report on Monday, November 11th. Royal Bank of Canada restated a hold rating and set a $120.00 price objective on shares of Phillips 66 in a research report on Sunday, December 22nd. Wells Fargo & Co upped their target price on Phillips 66 from $130.00 to $132.00 and gave the company an outperform rating in a research note on Wednesday, September 25th. Zacks Investment Research cut Phillips 66 from a buy rating to a hold rating and set a $125.00 target price on the stock. in a research note on Tuesday, October 29th. Finally, ValuEngine raised Phillips 66 from a strong sell rating to a sell rating in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $120.00.

Shares of Phillips 66 stock traded up $0.47 on Thursday, reaching $105.36. The company’s stock had a trading volume of 2,927 shares, compared to its average volume of 2,128,985. The company has a market capitalization of $46.61 billion, a price-to-earnings ratio of 9.00, a P/E/G ratio of 1.57 and a beta of 1.09. The firm’s fifty day simple moving average is $111.18 and its two-hundred day simple moving average is $106.20. Phillips 66 has a 52 week low of $80.24 and a 52 week high of $119.92. The company has a quick ratio of 0.84, a current ratio of 1.29 and a debt-to-equity ratio of 0.41.

Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, October 25th. The oil and gas company reported $3.11 EPS for the quarter, topping the Zacks’ consensus estimate of $2.60 by $0.51. Phillips 66 had a return on equity of 19.31% and a net margin of 4.17%. The business had revenue of $27.77 billion during the quarter, compared to analyst estimates of $28.31 billion. During the same quarter last year, the company earned $3.10 EPS. As a group, research analysts predict that Phillips 66 will post 8.61 EPS for the current year.

In other Phillips 66 news, VP Chukwuemeka A. Oyolu sold 464 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $119.53, for a total value of $55,461.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.13% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Schroder Investment Management Group raised its position in shares of Phillips 66 by 180.0% during the 2nd quarter. Schroder Investment Management Group now owns 225,243 shares of the oil and gas company’s stock valued at $21,070,000 after buying an additional 144,810 shares during the period. Glen Harbor Capital Management LLC raised its position in shares of Phillips 66 by 15.9% during the 2nd quarter. Glen Harbor Capital Management LLC now owns 25,056 shares of the oil and gas company’s stock valued at $2,344,000 after buying an additional 3,440 shares during the period. Pictet Asset Management Ltd. raised its position in shares of Phillips 66 by 1.2% during the 2nd quarter. Pictet Asset Management Ltd. now owns 216,659 shares of the oil and gas company’s stock valued at $20,266,000 after buying an additional 2,600 shares during the period. Toronto Dominion Bank raised its position in shares of Phillips 66 by 3.8% during the 2nd quarter. Toronto Dominion Bank now owns 298,519 shares of the oil and gas company’s stock valued at $27,917,000 after buying an additional 10,876 shares during the period. Finally, MML Investors Services LLC raised its position in shares of Phillips 66 by 56.8% during the 2nd quarter. MML Investors Services LLC now owns 39,636 shares of the oil and gas company’s stock valued at $3,708,000 after buying an additional 14,364 shares during the period. 68.34% of the stock is currently owned by institutional investors and hedge funds.

About Phillips 66

Phillips 66 operates as an energy manufacturing and logistics company. 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 products to market; provides terminaling and storage services for crude oil and 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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