Phillips 66 (NYSE:PSX) Stock Rating Lowered by Jefferies Financial Group

Phillips 66 (NYSE:PSX) was downgraded by stock analysts at Jefferies Financial Group from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

Several other research analysts have also recently issued reports on PSX. Mizuho upped their target price on shares of Phillips 66 from $152.00 to $170.00 and gave the company a “neutral” rating in a report on Tuesday, March 17th. Raymond James Financial lifted their price target on shares of Phillips 66 from $175.00 to $205.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 25th. Argus upped their price objective on shares of Phillips 66 from $152.00 to $185.00 and gave the company a “buy” rating in a research note on Tuesday, February 10th. Morgan Stanley raised their price objective on Phillips 66 from $140.00 to $147.00 and gave the stock an “equal weight” rating in a report on Thursday, February 5th. Finally, BMO Capital Markets lifted their target price on Phillips 66 from $175.00 to $195.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 7th. Eleven analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to MarketBeat, Phillips 66 currently has a consensus rating of “Hold” and an average price target of $180.72.

Phillips 66 Stock Performance

NYSE:PSX opened at $158.78 on Monday. Phillips 66 has a 12 month low of $95.70 and a 12 month high of $190.61. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.30 and a quick ratio of 0.91. The firm has a market capitalization of $63.63 billion, a PE ratio of 14.67, a price-to-earnings-growth ratio of 0.28 and a beta of 0.76. The business’s fifty day moving average price is $166.25 and its 200 day moving average price is $146.66.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Wednesday, February 4th. The oil and gas company reported $2.47 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.32. The business had revenue of $32.16 billion for the quarter, compared to the consensus estimate of $33.81 billion. Phillips 66 had a return on equity of 9.13% and a net margin of 3.22%.During the same quarter in the prior year, the business posted ($0.15) EPS. On average, sell-side analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, EVP Don Baldridge sold 7,500 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $160.00, for a total transaction of $1,200,000.00. Following the completion of the sale, the executive vice president directly owned 38,488 shares of the company’s stock, valued at $6,158,080. This represents a 16.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kevin J. Mitchell sold 15,629 shares of the stock in a transaction that occurred on Monday, March 30th. The stock was sold at an average price of $190.07, for a total value of $2,970,604.03. Following the sale, the chief financial officer directly owned 97,376 shares of the company’s stock, valued at $18,508,256.32. The trade was a 13.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 95,923 shares of company stock valued at $16,399,619. Corporate insiders own 0.40% of the company’s stock.

Institutional Investors Weigh In On Phillips 66

Several large investors have recently modified their holdings of PSX. Brighton Jones LLC grew its position in Phillips 66 by 238.5% in the 4th quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company’s stock valued at $1,166,000 after buying an additional 7,214 shares during the last quarter. Woodline Partners LP lifted its stake in shares of Phillips 66 by 40.7% in the 1st quarter. Woodline Partners LP now owns 34,891 shares of the oil and gas company’s stock worth $4,308,000 after acquiring an additional 10,089 shares during the period. Sei Investments Co. lifted its stake in shares of Phillips 66 by 28.3% in the 2nd quarter. Sei Investments Co. now owns 157,455 shares of the oil and gas company’s stock worth $18,788,000 after acquiring an additional 34,698 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Phillips 66 by 9.1% in the second quarter. The Manufacturers Life Insurance Company now owns 346,679 shares of the oil and gas company’s stock valued at $41,359,000 after acquiring an additional 28,988 shares in the last quarter. Finally, Glenview Trust co boosted its holdings in shares of Phillips 66 by 2.6% in the second quarter. Glenview Trust co now owns 8,949 shares of the oil and gas company’s stock valued at $1,068,000 after acquiring an additional 229 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Company Profile

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.