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

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

A number of other analysts have also recently weighed in on the stock. Barclays boosted their price objective on shares of Phillips 66 from $139.00 to $155.00 and gave the stock an “equal weight” rating in a research note on Thursday. Citigroup initiated coverage on shares of Phillips 66 in a research note on Wednesday, January 24th. They issued a “buy” rating for the company. Raymond James boosted their price objective on shares of Phillips 66 from $140.00 to $155.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. Scotiabank boosted their price objective on shares of Phillips 66 from $148.00 to $156.00 and gave the stock a “sector outperform” rating in a research note on Thursday, April 11th. Finally, Piper Sandler boosted their price objective on shares of Phillips 66 from $169.00 to $187.00 and gave the stock an “overweight” rating in a research note on Friday, April 5th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, Phillips 66 has a consensus rating of “Moderate Buy” and a consensus target price of $158.00.

Phillips 66 Stock Down 2.5 %

PSX stock traded down $3.94 during trading hours on Thursday, hitting $153.31. The company’s stock had a trading volume of 2,347,096 shares, compared to its average volume of 3,015,383. 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 company has a market capitalization of $65.59 billion, a PE ratio of 9.91, a price-to-earnings-growth ratio of 1.99 and a beta of 1.37. Phillips 66 has a 12 month low of $89.74 and a 12 month high of $174.08. The stock has a 50 day moving average price of $154.22 and a two-hundred day moving average price of $135.06.

Phillips 66 (NYSE:PSX) last posted its earnings results on Wednesday, January 31st. The oil and gas company reported $3.09 EPS for the quarter, topping the consensus estimate of $2.37 by $0.72. The company had revenue of $38.74 billion during the quarter, compared to the consensus estimate of $34.30 billion. Phillips 66 had a net margin of 4.68% and a return on equity of 22.10%. On average, equities research analysts expect that Phillips 66 will post 13.2 earnings per share for the current year.

Insider Transactions at Phillips 66

In other news, VP Joseph Scott Pruitt sold 7,200 shares of the business’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $157.26, for a total transaction of $1,132,272.00. Following the transaction, the vice president now owns 6,583 shares in the company, valued at approximately $1,035,242.58. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, EVP Richard G. Harbison sold 21,934 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now owns 24,941 shares of the company’s stock, valued at $3,648,120.07. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Joseph Scott Pruitt sold 7,200 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $157.26, for a total transaction of $1,132,272.00. Following the completion of the sale, the vice president now directly owns 6,583 shares in the company, valued at approximately $1,035,242.58. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,056 shares of company stock worth $5,272,681. 0.22% of the stock is currently owned by company insiders.

Institutional Trading of Phillips 66

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PSX. Moneta Group Investment Advisors LLC boosted its position in Phillips 66 by 100,843.8% in 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 buying an additional 9,969,418 shares in the last quarter. Barclays PLC boosted its position in Phillips 66 by 416.9% in the second quarter. Barclays PLC now owns 7,451,470 shares of the oil and gas company’s stock valued at $710,721,000 after buying an additional 6,009,826 shares in the last quarter. Norges Bank acquired a new position in Phillips 66 in the fourth quarter valued at about $559,435,000. Boston Partners boosted its position in Phillips 66 by 962.0% in the fourth quarter. Boston Partners now owns 3,858,170 shares of the oil and gas company’s stock valued at $513,327,000 after buying an additional 3,494,878 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in Phillips 66 by 62.1% in the first quarter. Wellington Management Group LLP now owns 7,188,087 shares of the oil and gas company’s stock valued at $620,979,000 after buying an additional 2,753,700 shares in the last quarter. 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.