Phillips 66 (NYSE:PSX) Price Target Raised to $255.00 at TD Cowen

Phillips 66 (NYSE:PSX) had its target price raised by equities research analysts at TD Cowen from $240.00 to $255.00 in a report issued on Thursday. The firm currently has a “buy” rating on the oil and gas company’s stock. TD Cowen’s price objective suggests a potential upside of 26.11% from the company’s previous close.

A number of other research firms have also weighed in on PSX. Barclays raised their price objective on shares of Phillips 66 from $177.00 to $183.00 and gave the company an “equal weight” rating in a research note on Thursday, July 9th. JPMorgan Chase & Co. lifted their target price on Phillips 66 from $188.00 to $202.00 in a research report on Thursday, April 30th. Raymond James Financial upped their price target on Phillips 66 from $218.00 to $235.00 and gave the stock an “outperform” rating in a report on Monday, July 13th. Argus increased their price target on Phillips 66 from $185.00 to $197.00 and gave the company a “buy” rating in a research report on Thursday, May 14th. Finally, The Goldman Sachs Group raised their price objective on Phillips 66 from $207.00 to $235.00 and gave the company a “neutral” rating in a research note on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $202.56.

Phillips 66 Trading Down 1.8%

PSX opened at $202.20 on Thursday. The company’s 50 day moving average price is $187.27 and its two-hundred day moving average price is $172.26. The firm has a market capitalization of $81.07 billion, a price-to-earnings ratio of 19.92, a PEG ratio of 0.16 and a beta of 0.68. Phillips 66 has a fifty-two week low of $118.07 and a fifty-two week high of $216.08. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.13 and a quick ratio of 0.85.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Wednesday, August 5th. The oil and gas company reported $9.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.50 by $1.91. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The company had revenue of $52.04 billion during the quarter, compared to the consensus estimate of $43.60 billion. During the same period last year, the company earned $2.38 earnings per share. As a group, research analysts predict that Phillips 66 will post 22.43 earnings per share for the current year.

Phillips 66 declared that its Board of Directors has initiated a share repurchase plan on Friday, July 31st that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the oil and gas company to repurchase up to 11.8% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In related news, EVP Vanessa Allen Sutherland sold 3,523 shares of the company’s stock in a transaction dated Tuesday, July 21st. The shares were sold at an average price of $211.05, for a total value of $743,529.15. Following the transaction, the executive vice president owned 27,537 shares in the company, valued at $5,811,683.85. The trade was a 11.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kevin J. Mitchell sold 29,400 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $170.00, for a total transaction of $4,998,000.00. Following the completion of the transaction, the chief financial officer owned 97,376 shares in the company, valued at approximately $16,553,920. This represents a 23.19% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 45,107 shares of company stock valued at $8,057,584 in the last ninety days. Insiders own 0.40% of the company’s stock.

Hedge Funds Weigh In On Phillips 66

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Brighton Jones LLC increased its holdings in Phillips 66 by 238.5% in the 4th quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company’s stock worth $1,166,000 after buying an additional 7,214 shares in the last quarter. Woodline Partners LP boosted its stake in Phillips 66 by 40.7% in the 1st quarter. Woodline Partners LP now owns 34,891 shares of the oil and gas company’s stock worth $4,308,000 after purchasing an additional 10,089 shares during the period. Sei Investments Co. grew its stake in Phillips 66 by 28.3% during the second quarter. Sei Investments Co. now owns 157,455 shares of the oil and gas company’s stock valued at $18,788,000 after acquiring an additional 34,698 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Phillips 66 by 9.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 346,679 shares of the oil and gas company’s stock worth $41,359,000 after purchasing an additional 28,988 shares in the last quarter. Finally, Glenview Trust co boosted its holdings in shares of Phillips 66 by 2.6% during the 2nd quarter. Glenview Trust co now owns 8,949 shares of the oil and gas company’s stock valued at $1,068,000 after purchasing an additional 229 shares during the last quarter. 76.93% of the stock is owned by institutional investors.

More Phillips 66 News

Here are the key news stories impacting Phillips 66 this week:

• Positive Sentiment: Phillips 66 earned $9.41 per share, well above analyst estimates of approximately $7.50–$7.68 and up sharply from $2.38 a year earlier. Revenue also exceeded expectations, supported by wider refining margins, stronger chemicals results and record midstream volumes. Phillips 66 Beats Q2 Earnings and Revenue Estimates
• Positive Sentiment: The company reduced debt by $6.6 billion and approved a $10 billion expansion of its share-repurchase authorization. The buyback signals confidence in cash generation and could support per-share earnings and shareholder returns. Phillips 66 Cashes In on Refining Boom
• Positive Sentiment: Management plans to operate its refineries at roughly the mid-90% capacity range in the third quarter, indicating confidence in demand and operating conditions. Midstream growth and improved chemicals performance provide additional earnings support beyond refining. Phillips 66 Plans Refineries to Run at Mid-90% Capacity
• Neutral Sentiment: Refining profitability benefited from supply disruptions connected to the Middle East, which widened fuel spreads. While favorable for near-term results, investors may view these gains as cyclical and difficult to sustain if global supply conditions normalize.
• Negative Sentiment: PSX is trading near its 12-month high after a significant rally, increasing the risk of profit-taking following the earnings release. Recent insider activity has also been weighted toward sales, although such transactions may reflect routine diversification rather than a change in business outlook.

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.