Phillips 66 (NYSE:PSX) Rating Lowered to “Neutral” at Citigroup

Phillips 66 (NYSE:PSX) was downgraded by research analysts at Citigroup from a “buy” rating to a “neutral” rating in a report released on Wednesday, MarketBeat Ratings reports. They currently have a $130.00 target price on the oil and gas company’s stock, up from their prior target price of $126.00. Citigroup’s target price would indicate a potential upside of 3.83% from the company’s previous close.

PSX has been the subject of a number of other reports. The Goldman Sachs Group lowered shares of Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 target price for the company. in a report on Thursday, March 27th. Cantor Fitzgerald assumed coverage on shares of Phillips 66 in a report on Wednesday, June 18th. They issued a “neutral” rating for the company. Wall Street Zen raised shares of Phillips 66 from a “sell” rating to a “hold” rating in a report on Monday, April 28th. Evercore ISI assumed coverage on shares of Phillips 66 in a report on Wednesday, June 18th. They issued an “outperform” rating and a $130.00 target price for the company. Finally, JPMorgan Chase & Co. set a $115.00 target price on shares of Phillips 66 in a report on Wednesday, June 18th. Ten equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $135.27.

Phillips 66 Stock Performance

PSX opened at $125.20 on Wednesday. The company has a current ratio of 1.23, a quick ratio of 0.88 and a debt-to-equity ratio of 0.63. The company has a market cap of $51.01 billion, a price-to-earnings ratio of 28.52, a PEG ratio of 1.99 and a beta of 1.02. The company’s 50 day moving average is $121.05 and its 200 day moving average is $118.13. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $150.12.

Phillips 66 (NYSE:PSX) last released its earnings results on Friday, April 25th. The oil and gas company reported ($0.90) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.97). Phillips 66 had a return on equity of 4.83% and a net margin of 1.32%. The firm had revenue of $31.92 billion for the quarter, compared to the consensus estimate of $31.93 billion. During the same quarter in the previous year, the business posted $1.90 EPS. On average, equities research analysts predict that Phillips 66 will post 6.8 EPS for the current year.

Insider Transactions at Phillips 66

In other news, EVP Vanessa Allen Sutherland sold 4,393 shares of the business’s stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $130.00, for a total value of $571,090.00. Following the transaction, the executive vice president owned 43,373 shares of the company’s stock, valued at approximately $5,638,490. The trade was a 9.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Brian Mandell sold 9,800 shares of the business’s stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $125.00, for a total value of $1,225,000.00. Following the completion of the transaction, the executive vice president directly owned 56,838 shares in the company, valued at approximately $7,104,750. The trade was a 14.71% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.22% of the company’s stock.

Institutional Trading of Phillips 66

A number of institutional investors have recently bought and sold shares of the company. Wolff Wiese Magana LLC raised its holdings in shares of Phillips 66 by 62.1% in the second quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 82 shares during the last quarter. von Borstel & Associates Inc. acquired a new position in shares of Phillips 66 in the first quarter worth $27,000. Olde Wealth Management LLC acquired a new position in shares of Phillips 66 in the first quarter worth $28,000. Opal Wealth Advisors LLC acquired a new position in shares of Phillips 66 in the first quarter worth $29,000. Finally, Pacific Center for Financial Services acquired a new position in shares of Phillips 66 in the fourth quarter worth $27,000. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

About Phillips 66

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.