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

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

Several other research firms have also commented on PSX. JPMorgan Chase & Co. lifted their price target on shares of Phillips 66 from $149.00 to $167.00 and gave the company an “overweight” rating in a report on Monday, April 1st. Citigroup started coverage on shares of Phillips 66 in a report on Wednesday, January 24th. They issued a “buy” rating for the company. Wells Fargo & Company lifted their price target on shares of Phillips 66 from $179.00 to $191.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Raymond James lifted their price target on shares of Phillips 66 from $140.00 to $155.00 and gave the company an “outperform” rating in a report on Thursday, February 1st. Finally, Barclays decreased their price target on shares of Phillips 66 from $155.00 to $147.00 and set an “equal weight” rating for the company in a report on Tuesday, April 30th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $157.43.

Phillips 66 Stock Up 1.1 %

Shares of PSX traded up $1.51 during midday trading on Monday, hitting $145.12. The company had a trading volume of 2,229,461 shares, compared to its average volume of 2,948,783. The company’s 50 day moving average price is $155.49 and its 200 day moving average price is $138.56. The stock has a market cap of $61.52 billion, a price-to-earnings ratio of 11.16, a PEG ratio of 1.82 and a beta of 1.41. Phillips 66 has a 52 week low of $89.74 and a 52 week high of $174.08. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.58.

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

Insider Transactions at Phillips 66

In other news, VP Joseph Scott Pruitt sold 7,200 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $157.26, for a total value of $1,132,272.00. Following the completion of the sale, the vice president now directly owns 6,583 shares of the company’s stock, valued at approximately $1,035,242.58. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, VP Joseph Scott Pruitt sold 7,200 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $157.26, for a total value of $1,132,272.00. Following the completion of the sale, the vice president now directly owns 6,583 shares of the company’s stock, valued at approximately $1,035,242.58. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Richard G. Harbison sold 21,934 shares of the business’s 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 completion of the sale, 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. In the last three months, insiders sold 35,056 shares of company stock valued at $5,272,681. Company insiders own 0.22% of the company’s stock.

Institutional Trading of Phillips 66

A number of hedge funds and other institutional investors have recently made changes to their positions in PSX. Keener Financial Planning LLC acquired a new stake in shares of Phillips 66 during the first quarter valued at approximately $26,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Phillips 66 during the first quarter valued at approximately $28,000. Ruedi Wealth Management Inc. raised its holdings in shares of Phillips 66 by 102.1% during the first quarter. Ruedi Wealth Management Inc. now owns 190 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 96 shares during the period. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of Phillips 66 during the fourth quarter valued at approximately $27,000. Finally, First United Bank & Trust acquired a new stake in shares of Phillips 66 during the fourth quarter valued at approximately $31,000. 76.93% of the stock is currently owned by 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.