Phillips 66 (NYSE:PSX) had its price objective hoisted by equities researchers at Cowen from $125.00 to $130.00 in a note issued to investors on Thursday, Briefing.com Automated Import reports. The firm presently has an “outperform” rating on the oil and gas company’s stock. Cowen’s price objective suggests a potential upside of 8.60% from the stock’s current price.
A number of other equities analysts have also weighed in on PSX. Macquarie initiated coverage on Phillips 66 in a research note on Thursday, September 5th. They set an “outperform” rating on the stock. Raymond James boosted their price objective on Phillips 66 from $117.00 to $120.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Zacks Investment Research lowered Phillips 66 from a “buy” rating to a “hold” rating and set a $125.00 price objective on the stock. in a research note on Tuesday, October 29th. JPMorgan Chase & Co. lowered their price objective on Phillips 66 from $126.00 to $115.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 10th. Finally, Wells Fargo & Co boosted their price objective on Phillips 66 from $130.00 to $132.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company’s stock. Phillips 66 has a consensus rating of “Buy” and an average price target of $118.80.
NYSE PSX traded up $0.13 on Thursday, reaching $119.70. 1,556,669 shares of the company were exchanged, compared to its average volume of 2,631,109. The business’s fifty day moving average price is $108.48 and its 200 day moving average price is $97.69. The stock has a market capitalization of $52.84 billion, a P/E ratio of 10.22, a price-to-earnings-growth ratio of 2.11 and a beta of 1.10. The company has a current ratio of 1.29, a quick ratio of 0.84 and a debt-to-equity ratio of 0.41. Phillips 66 has a fifty-two week low of $78.44 and a fifty-two week high of $119.92.
In other news, EVP Robert A. Herman sold 47,433 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $103.17, for a total value of $4,893,662.61. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.13% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. First Allied Advisory Services Inc. lifted its stake in Phillips 66 by 3.5% during the 3rd quarter. First Allied Advisory Services Inc. now owns 9,647 shares of the oil and gas company’s stock worth $983,000 after acquiring an additional 322 shares in the last quarter. Trillium Asset Management LLC acquired a new position in Phillips 66 during the 3rd quarter worth about $309,000. Rational Advisors LLC lifted its stake in Phillips 66 by 41.1% during the 3rd quarter. Rational Advisors LLC now owns 374 shares of the oil and gas company’s stock worth $38,000 after acquiring an additional 109 shares in the last quarter. Torray LLC lifted its stake in Phillips 66 by 0.8% during the 3rd quarter. Torray LLC now owns 21,482 shares of the oil and gas company’s stock worth $2,200,000 after acquiring an additional 161 shares in the last quarter. Finally, BancorpSouth Bank lifted its stake in Phillips 66 by 2.3% during the 3rd quarter. BancorpSouth Bank now owns 4,541 shares of the oil and gas company’s stock worth $465,000 after acquiring an additional 100 shares in the last quarter. 69.33% 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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