Phillips 66 (NYSE:PSX) Rating Lowered to Hold at StockNews.com

Phillips 66 (NYSE:PSX) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Monday.

Several other research firms also recently weighed in on PSX. Bank of America boosted their target price on shares of Phillips 66 from $150.00 to $180.00 and gave the stock a “neutral” rating in a research report on Friday, March 15th. JPMorgan Chase & Co. boosted their target price on shares of Phillips 66 from $149.00 to $167.00 and gave the stock an “overweight” rating in a research report on Monday, April 1st. Scotiabank boosted their target price on shares of Phillips 66 from $148.00 to $156.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 11th. Mizuho dropped their price objective on shares of Phillips 66 from $167.00 to $162.00 and set a “neutral” rating on the stock in a report on Friday, April 12th. Finally, Citigroup initiated coverage on shares of Phillips 66 in a report on Wednesday, January 24th. They issued a “buy” rating on the stock. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $157.43.

Phillips 66 Trading Up 0.1 %

NYSE PSX opened at $145.21 on Monday. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.58. The firm has a market cap of $61.56 billion, a PE ratio of 11.17, a price-to-earnings-growth ratio of 1.82 and a beta of 1.41. The company has a 50 day moving average price of $155.48 and a 200 day moving average price of $138.78. Phillips 66 has a 52 week low of $89.74 and a 52 week high of $174.08.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.90 EPS for the quarter, missing the consensus estimate of $2.05 by ($0.15). The firm had revenue of $36.44 billion for the quarter, compared to the consensus estimate of $35.87 billion. Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. During the same quarter last year, the firm earned $4.21 EPS. As a group, sell-side analysts forecast that Phillips 66 will post 13.17 EPS for the current fiscal year.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, VP Joseph Scott Pruitt sold 7,200 shares of the stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $157.26, for a total transaction of $1,132,272.00. Following the transaction, the vice president now directly owns 6,583 shares of the company’s stock, valued at $1,035,242.58. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, EVP Richard G. Harbison sold 21,934 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $146.27, for a total value of $3,208,286.18. Following the transaction, the executive vice president now directly owns 24,941 shares of the company’s stock, valued at $3,648,120.07. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Joseph Scott Pruitt sold 7,200 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $157.26, for a total transaction of $1,132,272.00. Following the completion of the transaction, the vice president now directly owns 6,583 shares in the company, valued at $1,035,242.58. The disclosure for this sale can be found here. Insiders have sold a total of 35,056 shares of company stock valued at $5,272,681 over the last ninety days. Corporate insiders own 0.22% of the company’s stock.

Hedge Funds Weigh In On Phillips 66

Several hedge funds and other institutional investors have recently modified their holdings of the business. Keener Financial Planning LLC acquired a new stake in Phillips 66 during the first quarter worth about $26,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Phillips 66 during the first quarter valued at about $28,000. Ruedi Wealth Management Inc. increased its position in shares of Phillips 66 by 102.1% during the first quarter. Ruedi Wealth Management Inc. now owns 190 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 96 shares during the last quarter. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of Phillips 66 during the fourth quarter valued at about $27,000. Finally, First United Bank & Trust acquired a new stake in shares of Phillips 66 during the fourth quarter valued at about $31,000. 76.93% of the stock is owned by hedge funds and other 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.