Phillips 66 (NYSE:PSX) Shares Gap Up – Still a Buy?

Phillips 66 (NYSE:PSX) shares gapped up prior to trading on Tuesday . The stock had previously closed at $123.71, but opened at $130.00. Phillips 66 shares last traded at $128.57, with a volume of 735,230 shares changing hands.

Analyst Ratings Changes

A number of brokerages have recently weighed in on PSX. StockNews.com downgraded Phillips 66 from a “hold” rating to a “sell” rating in a report on Wednesday, February 5th. Wolfe Research upgraded Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective for the company in a research report on Friday, January 3rd. Mizuho dropped their target price on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Barclays decreased their price target on shares of Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. Finally, Piper Sandler lowered shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, Phillips 66 currently has a consensus rating of “Moderate Buy” and an average target price of $148.00.

Phillips 66 Stock Performance

The firm has a market cap of $53.82 billion, a price-to-earnings ratio of 26.34, a price-to-earnings-growth ratio of 5.64 and a beta of 1.37. The firm’s 50 day moving average is $119.04 and its 200-day moving average is $127.66. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($1.38). Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. During the same period last year, the firm posted $3.09 earnings per share. Sell-side analysts anticipate that Phillips 66 will post 7.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of PSX. NewEdge Wealth LLC grew its stake in shares of Phillips 66 by 0.5% in the fourth quarter. NewEdge Wealth LLC now owns 15,199 shares of the oil and gas company’s stock worth $1,732,000 after acquiring an additional 81 shares during the last quarter. Krane Funds Advisors LLC boosted its holdings in Phillips 66 by 3.6% in the 3rd quarter. Krane Funds Advisors LLC now owns 2,350 shares of the oil and gas company’s stock valued at $309,000 after purchasing an additional 82 shares during the period. Richwood Investment Advisors LLC grew its position in Phillips 66 by 1.9% in the 3rd quarter. Richwood Investment Advisors LLC now owns 4,580 shares of the oil and gas company’s stock worth $602,000 after purchasing an additional 85 shares during the last quarter. JBR Co Financial Management Inc increased its holdings in shares of Phillips 66 by 0.9% during the 4th quarter. JBR Co Financial Management Inc now owns 9,520 shares of the oil and gas company’s stock worth $1,085,000 after purchasing an additional 85 shares during the period. Finally, Nwam LLC raised its position in shares of Phillips 66 by 2.2% during the fourth quarter. Nwam LLC now owns 3,876 shares of the oil and gas company’s stock valued at $442,000 after buying an additional 85 shares during the last quarter. 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.