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

Phillips 66 (NYSE:PSX) had its price objective dropped by equities research analysts at Barclays from $124.00 to $115.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the oil and gas company’s stock. Barclays‘s price objective would indicate a potential upside of 0.01% from the stock’s current price.

Other research analysts also recently issued reports about the company. Wells Fargo & Company dropped their price target on Phillips 66 from $167.00 to $161.00 and set an “overweight” rating for the company in a research note on Monday, December 9th. Mizuho decreased their target price on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a research report on Monday, December 16th. Morgan Stanley decreased their target price on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. Bank of America initiated coverage on shares of Phillips 66 in a research report on Thursday, October 17th. They set a “buy” rating and a $156.00 target price on the stock. Finally, UBS Group cut their price target on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, Phillips 66 presently has an average rating of “Moderate Buy” and an average target price of $147.93.

Phillips 66 Stock Performance

NYSE:PSX traded up $1.06 during mid-day trading on Monday, reaching $114.99. The company’s stock had a trading volume of 215,657 shares, compared to its average volume of 2,462,431. Phillips 66 has a 12-month low of $108.90 and a 12-month high of $174.08. The firm’s fifty day moving average price is $123.10 and its two-hundred day moving average price is $130.36. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The stock has a market cap of $47.49 billion, a P/E ratio of 14.76, a PEG ratio of 4.06 and a beta of 1.38.

Phillips 66 (NYSE:PSX) last issued its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share 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 in the previous year, the firm earned $4.63 EPS. Phillips 66’s revenue was down 10.3% on a year-over-year basis. On average, equities analysts forecast that Phillips 66 will post 7.56 EPS for the current fiscal year.

Institutional Trading of Phillips 66

Several institutional investors have recently modified their holdings of PSX. nVerses Capital LLC purchased a new position in shares of Phillips 66 in the third quarter worth about $26,000. Values First Advisors Inc. purchased a new position in shares of Phillips 66 in the third quarter worth about $30,000. Point72 Hong Kong Ltd purchased a new position in shares of Phillips 66 in the third quarter worth about $40,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Phillips 66 in the second quarter worth about $51,000. Finally, Hoese & Co LLP raised its stake in Phillips 66 by 33.1% during the third quarter. Hoese & Co LLP now owns 402 shares of the oil and gas company’s stock worth $53,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds 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.