UBS Group Issues Pessimistic Forecast for Phillips 66 (NYSE:PSX) Stock Price

Phillips 66 (NYSE:PSX) had its price target reduced by research analysts at UBS Group from $150.00 to $138.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has a “buy” rating on the oil and gas company’s stock. UBS Group’s price objective suggests a potential upside of 12.56% from the stock’s previous close.

Several other analysts have also recently issued reports on PSX. Raymond James increased their target price on Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Piper Sandler set a $144.00 price target on Phillips 66 in a research note on Thursday, October 17th. Morgan Stanley dropped their price target on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. Wells Fargo & Company dropped their price target on Phillips 66 from $182.00 to $167.00 and set an “overweight” rating for the company in a research note on Wednesday, October 9th. Finally, Bank of America initiated coverage on Phillips 66 in a research note on Thursday, October 17th. They issued a “buy” rating and a $156.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $150.38.

Phillips 66 Stock Up 2.2 %

Shares of PSX traded up $2.59 on Monday, reaching $122.60. The stock had a trading volume of 248,254 shares, compared to its average volume of 2,664,220. The company has a 50-day simple moving average of $131.27 and a 200-day simple moving average of $137.53. The firm has a market capitalization of $50.63 billion, a price-to-earnings ratio of 15.74, a price-to-earnings-growth ratio of 3.92 and a beta of 1.33. Phillips 66 has a 12-month low of $110.54 and a 12-month high of $174.08. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.79 and a current ratio of 1.21.

Phillips 66 (NYSE:PSX) last posted its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.41. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The business had revenue of $36.16 billion during the quarter, compared to analyst estimates of $36.31 billion. During the same quarter last year, the company earned $4.63 EPS. The company’s quarterly revenue was down 10.3% compared to the same quarter last year. Sell-side analysts predict that Phillips 66 will post 7.77 EPS for the current year.

Insider Transactions at Phillips 66

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the transaction, the chief financial officer now directly owns 81,937 shares in the company, valued at $11,390,062.37. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.22% of the company’s stock.

Hedge Funds Weigh In On Phillips 66

Several hedge funds have recently made changes to their positions in the company. Norden Group LLC boosted its stake in shares of Phillips 66 by 73.2% during the first quarter. Norden Group LLC now owns 3,743 shares of the oil and gas company’s stock worth $611,000 after buying an additional 1,582 shares during the period. Jennison Associates LLC raised its holdings in Phillips 66 by 37.6% during the first quarter. Jennison Associates LLC now owns 7,736 shares of the oil and gas company’s stock worth $1,264,000 after purchasing an additional 2,115 shares during the last quarter. Whittier Trust Co. raised its holdings in shares of Phillips 66 by 5.9% in the first quarter. Whittier Trust Co. now owns 3,210 shares of the oil and gas company’s stock worth $524,000 after acquiring an additional 180 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its position in shares of Phillips 66 by 4.9% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 6,076 shares of the oil and gas company’s stock valued at $992,000 after purchasing an additional 283 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S increased its stake in Phillips 66 by 69.8% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 37,802 shares of the oil and gas company’s stock valued at $6,175,000 after purchasing an additional 15,542 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

About Phillips 66

Phillips 66 operates as an energy manufacturing and logistics company in the United States, the United Kingdom, Germany, and internationally. 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 petroleum products to market; provides terminaling and storage services for crude oil and refined 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.