Phillips 66 (NYSE:PSX – Get Rating) had its price objective increased by Credit Suisse Group to $122.00 in a research note issued to investors on Thursday, Stock Target Advisor reports. Credit Suisse Group’s price objective would suggest a potential upside of 12.68% from the company’s current price.
Several other equities analysts have also commented on PSX. StockNews.com raised Phillips 66 from a “hold” rating to a “buy” rating in a report on Thursday, May 5th. Piper Sandler upped their target price on Phillips 66 from $119.00 to $120.00 and gave the company an “overweight” rating in a report on Monday, May 23rd. Citigroup assumed coverage on Phillips 66 in a report on Tuesday, April 26th. They set a “neutral” rating and a $89.00 target price for the company. TheStreet raised Phillips 66 from a “c+” rating to a “b” rating in a report on Wednesday, February 23rd. Finally, JPMorgan Chase & Co. boosted their price objective on Phillips 66 from $102.00 to $112.00 in a research report on Tuesday, May 17th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $99.87.
Phillips 66 stock traded down $1.98 during midday trading on Thursday, hitting $108.27. The stock had a trading volume of 2,941,683 shares, compared to its average volume of 4,310,504. The company has a current ratio of 1.13, a quick ratio of 0.87 and a debt-to-equity ratio of 0.59. The stock has a market cap of $52.09 billion, a P/E ratio of 18.86, a P/E/G ratio of 0.78 and a beta of 1.39. Phillips 66 has a 12 month low of $63.19 and a 12 month high of $111.28. The business has a fifty day moving average price of $91.99 and a 200 day moving average price of $84.23.
In related news, VP Paula Ann Johnson sold 44,700 shares of the stock in a transaction dated Tuesday, June 7th. The shares were sold at an average price of $108.91, for a total value of $4,868,277.00. Following the completion of the sale, the vice president now owns 102,489 shares in the company, valued at $11,162,076.99. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Robert A. Herman sold 47,200 shares of the stock in a transaction dated Tuesday, May 31st. The shares were sold at an average price of $102.82, for a total transaction of $4,853,104.00. Following the completion of the sale, the executive vice president now owns 64,106 shares of the company’s stock, valued at approximately $6,591,378.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 151,000 shares of company stock worth $16,234,792. Company insiders own 0.74% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Phillips 66 in the fourth quarter valued at approximately $276,446,000. BlackRock Inc. raised its holdings in shares of Phillips 66 by 11.0% during the first quarter. BlackRock Inc. now owns 35,037,013 shares of the oil and gas company’s stock worth $3,026,848,000 after acquiring an additional 3,462,425 shares during the period. Wellington Management Group LLP raised its holdings in shares of Phillips 66 by 62.1% during the first quarter. Wellington Management Group LLP now owns 7,188,087 shares of the oil and gas company’s stock worth $620,979,000 after acquiring an additional 2,753,700 shares during the period. Vanguard Group Inc. increased its stake in Phillips 66 by 5.9% in the 1st quarter. Vanguard Group Inc. now owns 45,933,380 shares of the oil and gas company’s stock valued at $3,968,184,000 after buying an additional 2,547,765 shares during the last quarter. Finally, State Street Corp increased its stake in Phillips 66 by 7.5% in the 1st quarter. State Street Corp now owns 31,814,449 shares of the oil and gas company’s stock valued at $2,748,450,000 after buying an additional 2,206,083 shares during the last quarter. 64.28% of the stock is owned by institutional investors.
Phillips 66 Company Profile (Get Rating)
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 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.
- Get a free copy of the StockNews.com research report on Phillips 66 (PSX)
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