Phillips 66 (NYSE:PSX) Stock Rating Lowered by ValuEngine

Phillips 66 (NYSE:PSX) was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating in a report released on Friday, ValuEngine reports.

Other equities research analysts have also issued research reports about the stock. Evercore ISI initiated coverage on shares of Phillips 66 in a research note on Wednesday, October 2nd. They set an “outperform” rating on the stock. Cowen boosted their price objective on shares of Phillips 66 from $112.00 to $115.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. dropped their price objective on shares of Phillips 66 from $126.00 to $115.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 10th. Morgan Stanley boosted their price objective on shares of Phillips 66 from $102.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Finally, Macquarie initiated coverage on shares of Phillips 66 in a research note on Thursday, September 5th. They set an “outperform” rating on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $114.80.

Shares of PSX opened at $110.63 on Friday. The firm’s 50-day moving average price is $103.80 and its 200-day moving average price is $96.14. The firm has a market capitalization of $48.79 billion, a price-to-earnings ratio of 9.45, a PEG ratio of 2.16 and a beta of 1.07. The company has a current ratio of 1.28, a quick ratio of 0.82 and a debt-to-equity ratio of 0.39. Phillips 66 has a 1-year low of $78.44 and a 1-year high of $110.97.

Phillips 66 (NYSE:PSX) last announced its earnings results on Friday, July 26th. The oil and gas company reported $3.02 earnings per share for the quarter, beating analysts’ consensus estimates of $2.70 by $0.32. Phillips 66 had a net margin of 4.76% and a return on equity of 19.75%. The firm had revenue of $28.52 billion for the quarter, compared to analyst estimates of $29.89 billion. During the same quarter in the previous year, the firm posted $2.80 EPS. On average, research analysts forecast that Phillips 66 will post 7.75 EPS for the current fiscal year.

In other Phillips 66 news, EVP Robert A. Herman sold 47,433 shares of Phillips 66 stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $103.17, for a total value of $4,893,662.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.13% of the stock is currently owned by insiders.

Institutional investors have recently modified their holdings of the business. Advisors Preferred LLC purchased a new position in Phillips 66 in the second quarter worth about $25,000. TRUE Private Wealth Advisors purchased a new position in Phillips 66 in the second quarter worth about $26,000. Atwater Malick LLC purchased a new position in shares of Phillips 66 during the third quarter valued at approximately $27,000. Manchester Financial Inc. purchased a new position in shares of Phillips 66 during the second quarter valued at approximately $32,000. Finally, Coastal Capital Group Inc. purchased a new position in shares of Phillips 66 during the second quarter valued at approximately $37,000. 68.74% of the stock is owned by institutional investors and hedge funds.

Phillips 66 Company Profile

Phillips 66 operates as an energy manufacturing and logistics company. 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 products to market; provides terminaling and storage services for crude oil and 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.

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Analyst Recommendations for Phillips 66 (NYSE:PSX)

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