Phillips 66 (PSX) Given a $95.00 Price Target by Barclays PLC Analysts

Phillips 66 (NYSE:PSX) has been assigned a $95.00 target price by Barclays PLC in a note issued to investors on Tuesday. The brokerage currently has an “equal weight” rating on the oil and gas company’s stock. Barclays PLC’s price target suggests a potential upside of 0.60% from the stock’s current price.

A number of other research analysts also recently commented on the stock. BidaskClub raised shares of Phillips 66 from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 13th. Scotiabank reissued a “hold” rating and set a $86.00 price objective on shares of Phillips 66 in a research report on Tuesday, June 27th. TheStreet raised shares of Phillips 66 from a “c” rating to a “b-” rating in a research report on Friday, June 30th. Zacks Investment Research downgraded shares of Phillips 66 from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Finally, Piper Jaffray Companies restated a “buy” rating and issued a $84.00 target price on shares of Phillips 66 in a research note on Friday, July 14th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. Phillips 66 has a consensus rating of “Hold” and a consensus price target of $92.67.

Shares of Phillips 66 (NYSE PSX) traded up 0.10% on Tuesday, hitting $94.43. 1,608,631 shares of the company were exchanged. Phillips 66 has a 52-week low of $75.14 and a 52-week high of $95.00. The firm’s 50-day moving average is $88.77 and its 200-day moving average is $82.36. The stock has a market capitalization of $48.30 billion, a PE ratio of 28.26 and a beta of 1.19.

Phillips 66 (NYSE:PSX) last released its earnings results on Tuesday, August 1st. The oil and gas company reported $1.09 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.07. The company had revenue of $24.58 billion for the quarter, compared to analyst estimates of $25.14 billion. Phillips 66 had a net margin of 1.87% and a return on equity of 6.29%. During the same period in the prior year, the business earned $0.94 EPS. Equities research analysts predict that Phillips 66 will post $4.34 earnings per share for the current year.

Phillips 66 declared that its board has approved a stock repurchase program on Monday, October 9th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the oil and gas company to buy shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

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In related news, VP Chukwuemeka A. Oyolu sold 1,151 shares of the stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $89.08, for a total value of $102,531.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.50% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Amarillo National Bank acquired a new stake in Phillips 66 in the 3rd quarter valued at about $229,000. Curbstone Financial Management Corp lifted its stake in Phillips 66 by 107.2% during the third quarter. Curbstone Financial Management Corp now owns 12,904 shares of the oil and gas company’s stock valued at $1,182,000 after buying an additional 6,677 shares in the last quarter. Norman Fields Gottscho Capital Management LLC lifted its stake in Phillips 66 by 0.8% during the third quarter. Norman Fields Gottscho Capital Management LLC now owns 96,254 shares of the oil and gas company’s stock valued at $8,818,000 after buying an additional 740 shares in the last quarter. Perpetual Ltd lifted its stake in Phillips 66 by 1.9% during the second quarter. Perpetual Ltd now owns 43,870 shares of the oil and gas company’s stock valued at $3,628,000 after buying an additional 800 shares in the last quarter. Finally, Intl Fcstone Inc. purchased a new stake in Phillips 66 during the second quarter valued at about $299,000. 69.54% of the stock is owned by institutional investors.

About Phillips 66

Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining, and marketing and specialties businesses. The Company operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment gathers, processes, transports and markets natural gas, and transports, stores, fractionates and markets natural gas liquids (NGLs) in the United States.

Analyst Recommendations for Phillips 66 (NYSE:PSX)

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