Argus Forecasts Strong Price Appreciation for Phillips 66 (NYSE:PSX) Stock

Phillips 66 (NYSE:PSX) had its target price boosted by research analysts at Argus from $185.00 to $197.00 in a research report issued to clients and investors on Thursday,MarketScreener reports. The firm currently has a “buy” rating on the oil and gas company’s stock. Argus’ price target points to a potential upside of 11.66% from the company’s current price.

A number of other research analysts have also commented on PSX. Citigroup upped their price objective on shares of Phillips 66 from $159.00 to $183.00 and gave the company a “neutral” rating in a research report on Thursday, April 9th. Mizuho upped their price objective on shares of Phillips 66 from $152.00 to $170.00 and gave the company a “neutral” rating in a research report on Tuesday, March 17th. Jefferies Financial Group lowered shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. Zacks Research raised shares of Phillips 66 from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 27th. Finally, Tudor Pickering raised shares of Phillips 66 from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat, Phillips 66 currently has an average rating of “Moderate Buy” and a consensus target price of $186.28.

Phillips 66 Stock Up 2.9%

Shares of PSX opened at $176.42 on Thursday. The company has a 50-day simple moving average of $170.79 and a 200-day simple moving average of $151.81. The firm has a market capitalization of $70.73 billion, a P/E ratio of 17.38, a P/E/G ratio of 0.26 and a beta of 0.70. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 1.13. Phillips 66 has a 52 week low of $109.75 and a 52 week high of $190.61.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of ($0.54) by $1.03. The business had revenue of $32.54 billion during the quarter, compared to analyst estimates of $35.86 billion. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.90) earnings per share. On average, equities research analysts expect that Phillips 66 will post 17.39 earnings per share for the current year.

Insider Activity

In other Phillips 66 news, EVP Don Baldridge sold 7,500 shares of the company’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $160.00, for a total transaction of $1,200,000.00. Following the sale, the executive vice president directly owned 38,488 shares of the company’s stock, valued at approximately $6,158,080. This represents a 16.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kevin Omar Meyers acquired 175 shares of the firm’s stock in a transaction on Wednesday, May 6th. The shares were purchased at an average cost of $173.12 per share, for a total transaction of $30,296.00. Following the completion of the purchase, the director directly owned 16,799 shares of the company’s stock, valued at approximately $2,908,242.88. The trade was a 1.05% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders sold 121,529 shares of company stock valued at $20,841,455. Corporate insiders own 0.40% of the company’s stock.

Institutional Trading of Phillips 66

Large investors have recently added to or reduced their stakes in the company. NFSG Corp grew its stake in shares of Phillips 66 by 105.6% during the first quarter. NFSG Corp now owns 146 shares of the oil and gas company’s stock valued at $27,000 after purchasing an additional 75 shares during the last quarter. Board of the Pension Protection Fund bought a new stake in shares of Phillips 66 during the fourth quarter valued at approximately $26,000. Accordant Advisory Group Inc grew its stake in shares of Phillips 66 by 900.0% during the fourth quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 180 shares during the last quarter. SWAN Capital LLC grew its stake in shares of Phillips 66 by 1,055.6% during the fourth quarter. SWAN Capital LLC now owns 208 shares of the oil and gas company’s stock valued at $27,000 after purchasing an additional 190 shares during the last quarter. Finally, Eagle Bay Advisors LLC bought a new stake in shares of Phillips 66 during the fourth quarter valued at approximately $27,000. 76.93% of the stock is owned by institutional investors.

Phillips 66 Company Profile

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.