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

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

Other research analysts have also issued research reports about the company. Bank of America raised their price objective on Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a research report on Friday, March 15th. Barclays raised their price objective on Phillips 66 from $139.00 to $155.00 and gave the company an “equal weight” rating in a research report on Thursday. Citigroup assumed coverage on Phillips 66 in a research report on Wednesday, January 24th. They set a “buy” rating for the company. Mizuho reduced their target price on Phillips 66 from $167.00 to $162.00 and set a “neutral” rating for the company in a report on Friday, April 12th. Finally, Wells Fargo & Company lifted their target price on Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $158.00.

Phillips 66 Stock Up 0.9 %

PSX stock opened at $154.74 on Thursday. Phillips 66 has a twelve month low of $89.74 and a twelve month high of $174.08. The company has a quick ratio of 1.02, a current ratio of 1.26 and a debt-to-equity ratio of 0.56. The firm has a market cap of $66.20 billion, a PE ratio of 10.00, a price-to-earnings-growth ratio of 1.98 and a beta of 1.37. The business has a 50 day moving average of $154.40 and a 200 day moving average of $135.31.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Wednesday, January 31st. The oil and gas company reported $3.09 earnings per share for the quarter, beating analysts’ consensus estimates of $2.37 by $0.72. Phillips 66 had a return on equity of 22.10% and a net margin of 4.68%. The company had revenue of $38.74 billion during the quarter, compared to analyst estimates of $34.30 billion. On average, research analysts forecast that Phillips 66 will post 13.25 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Robert W. Pease acquired 682 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was bought at an average price of $146.58 per share, with a total value of $99,967.56. Following the completion of the acquisition, the director now directly owns 1,900 shares of the company’s stock, valued at approximately $278,502. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Robert W. Pease acquired 682 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was bought at an average price of $146.58 per share, with a total value of $99,967.56. Following the completion of the acquisition, the director now directly owns 1,900 shares of the company’s stock, valued at approximately $278,502. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Richard G. Harbison sold 21,934 shares of Phillips 66 stock in a transaction on 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 owns 24,941 shares in the company, valued at $3,648,120.07. The disclosure for this sale can be found here. Insiders sold 35,056 shares of company stock valued at $5,272,681 over the last 90 days. Company insiders own 0.22% of the company’s stock.

Hedge Funds Weigh In On Phillips 66

Institutional investors and hedge funds have recently bought and sold shares of the stock. First Capital Advisors Group LLC. purchased a new position in shares of Phillips 66 in the second quarter valued at about $25,000. Ables Iannone Moore & Associates Inc. purchased a new position in shares of Phillips 66 in the fourth quarter valued at about $27,000. Redmont Wealth Advisors LLC purchased a new position in shares of Phillips 66 in the first quarter valued at about $28,000. Main Street Group LTD purchased a new position in shares of Phillips 66 in the fourth quarter valued at about $28,000. Finally, First United Bank & Trust purchased a new position in shares of Phillips 66 in the fourth quarter valued at about $31,000. 76.93% of the stock is currently 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.