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

Phillips 66 (NYSE:PSX) had its target price dropped by investment analysts at Barclays from $124.00 to $115.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the oil and gas company’s stock. Barclays‘s target price indicates a potential downside of 1.73% from the stock’s previous close.

A number of other equities research analysts have also recently commented on the stock. Piper Sandler set a $144.00 price target on shares of Phillips 66 in a report on Thursday, October 17th. Morgan Stanley reduced their target price 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. Scotiabank dropped their price target 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. Mizuho reduced their price objective on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. Finally, JPMorgan Chase & Co. lowered their target price on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 2nd. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $147.93.

Phillips 66 Stock Performance

PSX stock opened at $117.03 on Monday. The firm has a market cap of $48.33 billion, a PE ratio of 15.02, a price-to-earnings-growth ratio of 4.06 and a beta of 1.38. 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 50-day moving average price of $122.91 and a 200-day moving average price of $130.03. Phillips 66 has a 1-year low of $108.90 and a 1-year high of $174.08.

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. The business had revenue of $36.16 billion during 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 firm’s revenue for the quarter was down 10.3% on a year-over-year basis. During the same period in the previous year, the company posted $4.63 earnings per share. As a group, equities research analysts expect that Phillips 66 will post 7.56 earnings per share for the current year.

Hedge Funds Weigh In On Phillips 66

Several institutional investors have recently modified their holdings of the business. nVerses Capital LLC bought a new position in Phillips 66 in the 3rd quarter valued at $26,000. Values First Advisors Inc. purchased a new position in shares of Phillips 66 in the 3rd quarter worth about $30,000. Point72 Hong Kong Ltd bought a new position in Phillips 66 during the third quarter valued at about $40,000. Strategic Investment Solutions Inc. IL purchased a new stake in Phillips 66 during the second quarter worth about $51,000. Finally, Hoese & Co LLP raised its position in Phillips 66 by 33.1% in the third quarter. Hoese & Co LLP now owns 402 shares of the oil and gas company’s stock worth $53,000 after acquiring an additional 100 shares during the period. 76.93% of the stock is owned by institutional investors.

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.