Phillips 66 (NYSE:PSX) Downgraded by StockNews.com to “Hold”

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

PSX has been the subject of several other reports. Mizuho dropped their price target on Phillips 66 from $120.00 to $106.00 in a research note on Friday, May 19th. UBS Group initiated coverage on Phillips 66 in a research note on Wednesday, March 8th. They issued a “buy” rating and a $139.00 target price for the company. Royal Bank of Canada increased their target price on Phillips 66 from $130.00 to $132.00 and gave the company an “outperform” rating in a research note on Wednesday, February 8th. The Goldman Sachs Group lowered their target price on Phillips 66 from $124.00 to $119.00 in a research note on Friday, May 12th. Finally, TD Cowen lowered their target price on Phillips 66 from $117.00 to $110.00 and set a “market perform” rating for the company in a research note on Friday, May 5th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Phillips 66 presently has a consensus rating of “Moderate Buy” and a consensus target price of $120.87.

Phillips 66 Stock Performance

Phillips 66 stock opened at $95.64 on Wednesday. The firm has a market capitalization of $43.89 billion, a P/E ratio of 3.70, a PEG ratio of 0.36 and a beta of 1.38. The stock has a fifty day moving average price of $98.20 and a 200 day moving average price of $102.03. Phillips 66 has a 52 week low of $74.02 and a 52 week high of $113.53. The company has a current ratio of 1.54, a quick ratio of 1.17 and a debt-to-equity ratio of 0.51.

Phillips 66 (NYSE:PSX – Get Rating) last released its earnings results on Wednesday, May 3rd. The oil and gas company reported $4.21 EPS for the quarter, beating the consensus estimate of $3.58 by $0.63. The firm had revenue of $35.09 billion during the quarter, compared to analyst estimates of $29.76 billion. Phillips 66 had a return on equity of 32.37% and a net margin of 7.13%. During the same period in the prior year, the firm posted $1.32 earnings per share. Equities research analysts anticipate that Phillips 66 will post 14.17 earnings per share for the current year.

Institutional Trading of Phillips 66

Several hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Phillips 66 by 1.9% in the third quarter. Vanguard Group Inc. now owns 50,644,106 shares of the oil and gas company’s stock worth $4,087,993,000 after buying an additional 966,125 shares during the period. BlackRock Inc. boosted its position in shares of Phillips 66 by 0.3% in the first quarter. BlackRock Inc. now owns 37,428,804 shares of the oil and gas company’s stock worth $3,794,532,000 after buying an additional 102,139 shares during the period. State Street Corp boosted its position in Phillips 66 by 1.1% during the third quarter. State Street Corp now owns 33,013,657 shares of the oil and gas company’s stock valued at $2,664,862,000 after purchasing an additional 345,132 shares during the last quarter. Wells Fargo & Company MN boosted its position in Phillips 66 by 0.6% during the fourth quarter. Wells Fargo & Company MN now owns 16,802,175 shares of the oil and gas company’s stock valued at $1,748,770,000 after purchasing an additional 98,162 shares during the last quarter. Finally, Moneta Group Investment Advisors LLC boosted its position in Phillips 66 by 100,843.8% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 9,979,304 shares of the oil and gas company’s stock valued at $1,038,646,000 after purchasing an additional 9,969,418 shares during the last quarter. Institutional investors and hedge funds own 70.76% of the company’s stock.

Phillips 66 Company Profile

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Phillips 66 engages in the processing, transportation, storage, and marketing of fuels and other related products. The company operates through the following segments: Midstream, Chemicals, Refining and Marketing & Specialties. The Midstream segment provides crude oil and refined products transportation, terminaling and processing services, as well as natural gas, natural gas liquids and liquefied petroleum gas transportation, storage, processing and marketing services.