StockNews.com Initiates Coverage on Phillips 66 (NYSE:PSX)

Investment analysts at StockNews.com started coverage on shares of Phillips 66 (NYSE:PSX – Get Rating) in a research note issued to investors on Thursday. The brokerage set a “buy” rating on the oil and gas company’s stock.

PSX has been the subject of a number of other research reports. Morgan Stanley increased their target price on shares of Phillips 66 from $115.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Friday, January 20th. Royal Bank of Canada raised their price objective on shares of Phillips 66 from $130.00 to $132.00 and gave the company an “outperform” rating in a research report on Wednesday, February 8th. Piper Sandler lowered their target price on shares of Phillips 66 from $155.00 to $137.00 and set an “overweight” rating on the stock in a research note on Monday, December 19th. UBS Group started coverage on shares of Phillips 66 in a research note on Wednesday, March 8th. They issued a “buy” rating and a $139.00 target price on the stock. Finally, Wells Fargo & Company decreased their price target on shares of Phillips 66 from $134.00 to $127.00 and set an “overweight” rating on the stock in a research note on Thursday, January 5th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $121.27.

Phillips 66 Stock Down 0.3 %

Shares of PSX stock traded down $0.33 on Thursday, hitting $94.72. The stock had a trading volume of 10,256,824 shares, compared to its average volume of 3,644,957. The business has a 50 day moving average of $102.53 and a 200 day moving average of $99.39. The stock has a market cap of $43.94 billion, a price-to-earnings ratio of 4.13, a price-to-earnings-growth ratio of 0.33 and a beta of 1.37. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.38 and a quick ratio of 1.17. Phillips 66 has a 12-month low of $74.02 and a 12-month high of $113.53.

Phillips 66 (NYSE:PSX – Get Rating) last posted its quarterly earnings results on Tuesday, January 31st. The oil and gas company reported $4.00 earnings per share for the quarter, missing the consensus estimate of $4.35 by ($0.35). The company had revenue of $40.91 billion for the quarter, compared to the consensus estimate of $34.30 billion. Phillips 66 had a net margin of 6.27% and a return on equity of 31.20%. During the same quarter in the previous year, the company posted $2.94 EPS. As a group, analysts expect that Phillips 66 will post 15.68 EPS for the current year.

Insider Activity

In other Phillips 66 news, Director Gregory Hayes bought 10,250 shares of the company’s stock in a transaction dated Thursday, February 2nd. The shares were purchased at an average price of $97.75 per share, for a total transaction of $1,001,937.50. Following the acquisition, the director now owns 14,299 shares in the company, valued at approximately $1,397,727.25. The purchase was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.74% of the company’s stock.

Institutional Trading of Phillips 66

Hedge funds have recently modified their holdings of the business. Hallmark Capital Management Inc. boosted its holdings in shares of Phillips 66 by 62.5% during the 3rd quarter. Hallmark Capital Management Inc. now owns 325 shares of the oil and gas company’s stock valued at $26,000 after buying an additional 125 shares in the last quarter. OLD Second National Bank of Aurora purchased a new position in shares of Phillips 66 in the 4th quarter worth about $26,000. Horan Securities Inc. raised its position in shares of Phillips 66 by 210.6% in the 3rd quarter. Horan Securities Inc. now owns 351 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 238 shares during the last quarter. Align Wealth Management LLC purchased a new position in shares of Phillips 66 in the 4th quarter worth about $28,000. Finally, Core Alternative Capital raised its position in shares of Phillips 66 by 218.3% in the 3rd quarter. Core Alternative Capital now owns 366 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 251 shares during the last quarter. Institutional investors own 70.76% of the company’s stock.

Phillips 66 Company Profile

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Phillips 66 engages in the processing, transportation, storage, and marketing of fuels and other related products. The company operates through the following segments: Midstream, Chemicals, Refining and Marketing & Specialties. The Midstream segment provides crude oil and refined products transportation, terminaling and processing services, as well as natural gas, natural gas liquids and liquefied petroleum gas transportation, storage, processing and marketing services.