Cowen Increases Phillips 66 (NYSE:PSX) Price Target to $130.00

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.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Friday, October 25th. The oil and gas company reported $3.11 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.60 by $0.51. The company had revenue of $27.77 billion for the quarter, compared to analyst estimates of $28.31 billion. Phillips 66 had a return on equity of 19.31% and a net margin of 4.17%. During the same quarter in the previous year, the company posted $3.10 earnings per share. Equities research analysts forecast that Phillips 66 will post 8.65 earnings per share for the current year.

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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