Morgan Stanley Cuts Phillips 66 (NYSE:PSX) Price Target to $144.00

Phillips 66 (NYSE:PSX) had its price objective decreased by Morgan Stanley from $150.00 to $144.00 in a report issued on Monday, Benzinga reports. The brokerage currently has an “equal weight” rating on the oil and gas company’s stock. Morgan Stanley’s price objective would indicate a potential upside of 13.68% from the stock’s previous close.

PSX has been the topic of a number of other reports. Mizuho cut their price target on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a report on Monday. Raymond James lifted their price target on Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Barclays lifted their price target on Phillips 66 from $136.00 to $138.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. Wolfe Research began coverage on Phillips 66 in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. Finally, Argus reissued a “buy” rating and issued a $167.00 price objective on shares of Phillips 66 in a research report on Thursday, May 30th. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $155.29.

Phillips 66 Trading Down 0.0 %

Shares of NYSE PSX traded down $0.03 during midday trading on Monday, hitting $126.67. The company’s stock had a trading volume of 1,058,162 shares, compared to its average volume of 2,661,803. The company has a current ratio of 1.14, a quick ratio of 0.79 and a debt-to-equity ratio of 0.56. The business’s 50 day moving average is $135.79 and its two-hundred day moving average is $144.18. Phillips 66 has a 12-month low of $107.85 and a 12-month high of $174.08. The firm has a market cap of $53.02 billion, a P/E ratio of 9.73, a price-to-earnings-growth ratio of 4.53 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $2.31 EPS for the quarter, topping the consensus estimate of $1.98 by $0.33. The company had revenue of $38.91 billion for the quarter, compared to the consensus estimate of $37.79 billion. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. Phillips 66’s quarterly revenue was up 8.9% on a year-over-year basis. During the same period last year, the business posted $3.87 EPS. As a group, equities research analysts expect that Phillips 66 will post 9.25 EPS for the current year.

Insider Activity

In related news, CFO Kevin J. Mitchell sold 30,000 shares of Phillips 66 stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $139.01, for a total value of $4,170,300.00. Following the completion of the transaction, the chief financial officer now owns 81,937 shares in the company, valued at approximately $11,390,062.37. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.22% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PSX. Crewe Advisors LLC acquired a new position in Phillips 66 during the first quarter worth $25,000. Keener Financial Planning LLC acquired a new stake in shares of Phillips 66 in the first quarter valued at $26,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Phillips 66 in the first quarter valued at $28,000. Ruedi Wealth Management Inc. raised its stake in Phillips 66 by 102.1% in the first quarter. Ruedi Wealth Management Inc. now owns 190 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 96 shares in the last quarter. Finally, Ables Iannone Moore & Associates Inc. acquired a new stake in Phillips 66 in the fourth quarter valued at $27,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

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.