Phillips 66 (NYSE:PSX) Price Target Cut to $133.00 by Analysts at Scotiabank

Phillips 66 (NYSE:PSX) had its price objective reduced by analysts at Scotiabank from $136.00 to $133.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “sector outperform” rating on the oil and gas company’s stock. Scotiabank’s price target points to a potential upside of 36.79% from the stock’s current price.

Other equities research analysts also recently issued research reports about the company. Raymond James dropped their price objective on Phillips 66 from $150.00 to $140.00 and set an “outperform” rating on the stock in a research report on Wednesday. The Goldman Sachs Group downgraded shares of Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 price objective on the stock. in a research report on Thursday, March 27th. Mizuho reduced their price objective on shares of Phillips 66 from $140.00 to $132.00 and set a “neutral” rating for the company in a research note on Wednesday. Piper Sandler lowered shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Finally, Barclays reduced their price target on Phillips 66 from $135.00 to $106.00 and set an “equal weight” rating on the stock in a research report on Thursday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Phillips 66 has a consensus rating of “Moderate Buy” and an average price target of $142.00.

Phillips 66 Trading Up 0.2 %

NYSE PSX opened at $97.23 on Friday. Phillips 66 has a one year low of $91.01 and a one year high of $166.47. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. The company has a market capitalization of $39.64 billion, a price-to-earnings ratio of 19.68, a price-to-earnings-growth ratio of 4.84 and a beta of 1.17. The company’s 50-day simple moving average is $120.96 and its two-hundred day simple moving average is $123.55.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($1.38). Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same quarter in the previous year, the business earned $3.09 EPS. Equities analysts forecast that Phillips 66 will post 6.8 EPS for the current fiscal year.

Institutional Investors Weigh In On Phillips 66

Large investors have recently bought and sold shares of the company. Piscataqua Savings Bank lifted its stake in Phillips 66 by 19.8% during the 1st quarter. Piscataqua Savings Bank now owns 816 shares of the oil and gas company’s stock valued at $101,000 after acquiring an additional 135 shares during the period. Gateway Investment Advisers LLC lifted its position in Phillips 66 by 11.3% during the first quarter. Gateway Investment Advisers LLC now owns 11,836 shares of the oil and gas company’s stock valued at $1,462,000 after purchasing an additional 1,200 shares during the period. Independence Bank of Kentucky boosted its holdings in Phillips 66 by 4.1% in the first quarter. Independence Bank of Kentucky now owns 3,451 shares of the oil and gas company’s stock valued at $426,000 after purchasing an additional 137 shares during the last quarter. Impact Capital Partners LLC grew its position in Phillips 66 by 13.3% during the 1st quarter. Impact Capital Partners LLC now owns 7,400 shares of the oil and gas company’s stock worth $914,000 after purchasing an additional 869 shares during the period. Finally, Disciplined Investments LLC raised its stake in shares of Phillips 66 by 0.5% during the 1st quarter. Disciplined Investments LLC now owns 51,748 shares of the oil and gas company’s stock valued at $6,390,000 after buying an additional 274 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.