Phillips 66 (NYSE:PSX) Rating 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 research note issued on Monday.

Other research analysts have also recently issued reports about the company. Scotiabank increased their price target on Phillips 66 from $148.00 to $156.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 11th. Bank of America increased their price target on Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a research note on Friday, March 15th. The Goldman Sachs Group increased their price target on Phillips 66 from $152.00 to $174.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Raymond James raised their target price on Phillips 66 from $140.00 to $155.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. Finally, Citigroup began coverage on Phillips 66 in a research report on Wednesday, January 24th. They set a “buy” rating for the company. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $157.43.

Phillips 66 Trading Up 0.1 %

Shares of NYSE:PSX opened at $145.21 on Monday. The company has a market capitalization of $61.56 billion, a P/E ratio of 11.17, a P/E/G ratio of 1.82 and a beta of 1.41. Phillips 66 has a 1 year low of $89.74 and a 1 year high of $174.08. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.17 and a quick ratio of 0.82. The business’s 50 day simple moving average is $155.48 and its 200 day simple moving average is $138.78.

Phillips 66 (NYSE:PSX) last issued its earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). The business had revenue of $36.44 billion during the quarter, compared to analyst estimates of $35.87 billion. Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. During the same period in the prior year, the business posted $4.21 EPS. On average, research analysts anticipate that Phillips 66 will post 13.17 EPS for the current fiscal year.

Insider Activity

In other news, EVP Richard G. Harbison sold 21,934 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $146.27, for a total value of $3,208,286.18. Following the completion of the sale, the executive vice president now directly owns 24,941 shares in the company, valued at approximately $3,648,120.07. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Robert W. Pease bought 682 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were purchased at an average price of $146.58 per share, with a total value of $99,967.56. Following the transaction, the director now directly owns 1,900 shares in the company, valued at $278,502. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Richard G. Harbison sold 21,934 shares of Phillips 66 stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the transaction, the executive vice president now directly owns 24,941 shares in the company, valued at approximately $3,648,120.07. The disclosure for this sale can be found here. Insiders sold a total of 35,056 shares of company stock worth $5,272,681 in the last three months. Company insiders own 0.22% of the company’s stock.

Hedge Funds Weigh In On Phillips 66

Several hedge funds have recently modified their holdings of the company. Williams Jones Wealth Management LLC. lifted its position in shares of Phillips 66 by 2.2% during the 1st quarter. Williams Jones Wealth Management LLC. now owns 12,179 shares of the oil and gas company’s stock worth $1,989,000 after buying an additional 259 shares in the last quarter. Delta Financial Advisors LLC lifted its position in shares of Phillips 66 by 3.4% during the 1st quarter. Delta Financial Advisors LLC now owns 9,395 shares of the oil and gas company’s stock worth $1,535,000 after buying an additional 311 shares in the last quarter. Meeder Advisory Services Inc. lifted its position in shares of Phillips 66 by 3.9% during the 1st quarter. Meeder Advisory Services Inc. now owns 7,046 shares of the oil and gas company’s stock worth $1,151,000 after buying an additional 262 shares in the last quarter. Meeder Asset Management Inc. bought a new position in shares of Phillips 66 during the 1st quarter worth approximately $1,283,000. Finally, Pointe Capital Management LLC bought a new position in shares of Phillips 66 during the 1st quarter worth approximately $221,000. Institutional investors own 76.93% of the company’s stock.

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.