Phillips 66 (NYSE:PSX) was upgraded by stock analysts at Royal Bank of Canada from a “sector perform” rating to an “outperform” rating in a research note issued to investors on Sunday, Marketbeat Ratings reports. The firm currently has a $67.00 target price on the oil and gas company’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 26.24% from the company’s current price.
PSX has been the topic of a number of other research reports. Credit Suisse Group upgraded Phillips 66 from a “neutral” rating to an “outperform” rating and set a $100.00 price target on the stock in a report on Monday, March 9th. Cowen lowered their price target on Phillips 66 from $127.00 to $115.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Raymond James lowered their price target on Phillips 66 from $110.00 to $69.00 and set an “outperform” rating on the stock in a report on Tuesday, March 24th. They noted that the move was a valuation call. Barclays initiated coverage on Phillips 66 in a report on Tuesday, January 14th. They issued an “overweight” rating and a $122.00 price target on the stock. Finally, Piper Sandler lowered their target price on Phillips 66 from $139.00 to $120.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. One analyst has rated the stock with a sell rating, two have issued a hold rating and fifteen have assigned a buy rating to the company. Phillips 66 presently has a consensus rating of “Buy” and a consensus target price of $91.36.
NYSE PSX traded down $1.08 on Friday, hitting $53.08. 2,241,507 shares of the company’s stock were exchanged, compared to its average volume of 6,525,651. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.24 and a quick ratio of 0.91. The firm’s 50-day moving average price is $70.04 and its two-hundred day moving average price is $98.74. Phillips 66 has a fifty-two week low of $40.04 and a fifty-two week high of $119.92. The firm has a market cap of $22.99 billion, a price-to-earnings ratio of 7.83, a P/E/G ratio of 1.22 and a beta of 1.17.
In other Phillips 66 news, Director John E. Lowe purchased 2,000 shares of Phillips 66 stock in a transaction on Thursday, February 27th. The shares were bought at an average price of $76.71 per share, with a total value of $153,420.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.13% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. Allred Capital Management LLC purchased a new position in Phillips 66 in the fourth quarter valued at about $27,000. Total Clarity Wealth Management Inc. purchased a new position in Phillips 66 in the fourth quarter valued at about $28,000. Lighthouse Financial Advisors Inc. purchased a new position in Phillips 66 in the fourth quarter valued at about $30,000. Savior LLC purchased a new position in Phillips 66 in the fourth quarter valued at about $32,000. Finally, JFS Wealth Advisors LLC raised its position in Phillips 66 by 56.9% in the fourth quarter. JFS Wealth Advisors LLC now owns 317 shares of the oil and gas company’s stock valued at $35,000 after purchasing an additional 115 shares during the period. 69.99% 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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