Mizuho Has Lowered Expectations for Phillips 66 (NYSE:PSX) Stock Price

Phillips 66 (NYSE:PSX) had its price target reduced by analysts at Mizuho from $150.00 to $147.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “neutral” rating on the oil and gas company’s stock. Mizuho’s price objective suggests a potential upside of 26.94% from the stock’s previous close.

Other research analysts have 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. Morgan Stanley reduced 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 report on Monday, September 16th. Barclays dropped their price target on shares of Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating for the company in a research note on Monday, November 11th. JPMorgan Chase & Co. lowered their target price on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. Finally, Scotiabank cut their price objective on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $149.00.

Phillips 66 Price Performance

Shares of NYSE:PSX opened at $115.80 on Monday. The firm has a 50 day moving average of $129.09 and a 200-day moving average of $133.47. Phillips 66 has a 12 month low of $114.41 and a 12 month high of $174.08. 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 capitalization of $47.82 billion, a PE ratio of 14.87, a PEG ratio of 4.06 and a beta of 1.35.

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, beating analysts’ consensus estimates of $1.63 by $0.41. The firm had revenue of $36.16 billion for the quarter, compared to the consensus estimate of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The company’s revenue was down 10.3% compared to the same quarter last year. During the same quarter last year, the business posted $4.63 EPS. On average, equities research analysts predict that Phillips 66 will post 7.56 EPS for the current fiscal year.

Institutional Investors Weigh In On Phillips 66

Institutional investors and hedge funds have recently made changes to their positions in the business. Catalyst Financial Partners LLC raised its stake in shares of Phillips 66 by 5.1% in the second quarter. Catalyst Financial Partners LLC now owns 1,514 shares of the oil and gas company’s stock worth $214,000 after purchasing an additional 74 shares during the last quarter. Advisory Alpha LLC raised its position in Phillips 66 by 4.8% in the 2nd quarter. Advisory Alpha LLC now owns 1,648 shares of the oil and gas company’s stock valued at $233,000 after buying an additional 76 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC boosted its holdings in Phillips 66 by 1.8% during the 2nd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,363 shares of the oil and gas company’s stock worth $616,000 after acquiring an additional 77 shares during the last quarter. Krane Funds Advisors LLC grew its stake in shares of 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 worth $309,000 after acquiring an additional 82 shares in the last quarter. Finally, Richwood Investment Advisors LLC raised its holdings in shares of Phillips 66 by 1.9% in the third quarter. Richwood Investment Advisors LLC now owns 4,580 shares of the oil and gas company’s stock valued at $602,000 after purchasing an additional 85 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Company Profile

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.