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

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

Several other equities analysts have also recently weighed in on the company. TD Cowen decreased their price objective on Phillips 66 from $117.00 to $110.00 and set a “market perform” rating for the company in a report on Friday, May 5th. The Goldman Sachs Group cut their price objective on shares of Phillips 66 from $124.00 to $119.00 in a research report on Friday, May 12th. UBS Group initiated coverage on shares of Phillips 66 in a research report on Wednesday, March 8th. They set a “buy” rating and a $139.00 price objective for the company. JPMorgan Chase & Co. lifted their price target on shares of Phillips 66 from $112.00 to $120.00 and gave the company an “overweight” rating in a research report on Tuesday, March 28th. Finally, Wells Fargo & Company dropped their price target on shares of Phillips 66 from $130.00 to $120.00 in a research report on Tuesday, April 18th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Phillips 66 presently has a consensus rating of “Moderate Buy” and an average target price of $120.87.

Phillips 66 Stock Performance

PSX opened at $95.64 on Wednesday. The business’s 50-day moving average price is $98.20 and its two-hundred day moving average price is $102.03. Phillips 66 has a 1 year low of $74.02 and a 1 year high of $113.53. The company has a market capitalization of $43.89 billion, a price-to-earnings ratio of 3.70, a P/E/G ratio of 0.36 and a beta of 1.38. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.54 and a quick ratio of 1.17.

Phillips 66 (NYSE:PSX – Get Rating) last announced its quarterly earnings data on Wednesday, May 3rd. The oil and gas company reported $4.21 earnings per share for the quarter, beating the consensus estimate of $3.58 by $0.63. The company had revenue of $35.09 billion during the quarter, compared to analysts’ expectations of $29.76 billion. Phillips 66 had a return on equity of 32.37% and a net margin of 7.13%. During the same quarter last year, the company earned $1.32 EPS. Equities analysts expect that Phillips 66 will post 14.17 EPS for the current fiscal year.

Institutional Trading of Phillips 66

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bornite Capital Management LP bought a new stake in shares of Phillips 66 in the first quarter worth $8,639,000. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Phillips 66 by 316.2% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 6,597 shares of the oil and gas company’s stock worth $570,000 after purchasing an additional 5,012 shares during the last quarter. Synovus Financial Corp grew its stake in shares of Phillips 66 by 5.1% in the first quarter. Synovus Financial Corp now owns 16,257 shares of the oil and gas company’s stock worth $1,405,000 after purchasing an additional 788 shares during the last quarter. Cibc World Market Inc. boosted its position in Phillips 66 by 61.9% during the first quarter. Cibc World Market Inc. now owns 7,236 shares of the oil and gas company’s stock valued at $625,000 after acquiring an additional 2,766 shares during the last quarter. Finally, Blair William & Co. IL boosted its position in Phillips 66 by 103.8% during the first quarter. Blair William & Co. IL now owns 53,538 shares of the oil and gas company’s stock valued at $4,625,000 after acquiring an additional 27,267 shares during the last quarter. Institutional investors own 70.76% of the company’s stock.

Phillips 66 Company Profile

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Phillips 66 engages in the processing, transportation, storage, and marketing of fuels and other related products. The company operates through the following segments: Midstream, Chemicals, Refining and Marketing & Specialties. The Midstream segment provides crude oil and refined products transportation, terminaling and processing services, as well as natural gas, natural gas liquids and liquefied petroleum gas transportation, storage, processing and marketing services.