StockNews.com Downgrades Phillips 66 (NYSE:PSX) to Hold

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

A number of other equities analysts have also commented on the stock. JPMorgan Chase & Co. raised their target price on shares of Phillips 66 from $149.00 to $167.00 and gave the stock an “overweight” rating in a research report on Monday, April 1st. Piper Sandler raised their target price on shares of Phillips 66 from $169.00 to $187.00 and gave the stock an “overweight” rating in a research report on Friday, April 5th. Bank of America raised their target price on shares of Phillips 66 from $150.00 to $180.00 and gave the stock a “neutral” rating in a research report on Friday, March 15th. Mizuho reduced their target price on shares of Phillips 66 from $167.00 to $162.00 and set a “neutral” rating on the stock in a research report on Friday, April 12th. Finally, Wells Fargo & Company raised their target price on shares of Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $158.00.

Phillips 66 Stock Down 3.7 %

Shares of NYSE PSX opened at $151.41 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.26 and a quick ratio of 1.02. The company has a market cap of $64.78 billion, a P/E ratio of 11.65, a PEG ratio of 1.83 and a beta of 1.37. Phillips 66 has a 1 year low of $89.74 and a 1 year high of $174.08. The firm has a 50-day simple moving average of $155.55 and a two-hundred day simple moving average of $137.23.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.05 by ($0.15). The firm 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 22.10% and a net margin of 4.68%. During the same period in the previous year, the business earned $4.21 EPS. Research analysts anticipate that Phillips 66 will post 13.77 earnings per share for the current year.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, EVP Richard G. Harbison sold 21,934 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the executive vice president now directly owns 24,941 shares in the company, valued at $3,648,120.07. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Robert W. Pease acquired 682 shares of the stock in a transaction dated Thursday, February 15th. The stock was acquired at an average cost of $146.58 per share, for a total transaction of $99,967.56. Following the completion of the purchase, the director now owns 1,900 shares of the company’s stock, valued at approximately $278,502. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Richard G. Harbison sold 21,934 shares of Phillips 66 stock in a transaction 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 sale, the executive vice president now owns 24,941 shares of the company’s stock, valued at $3,648,120.07. The disclosure for this sale can be found here. Insiders sold a total of 35,056 shares of company stock worth $5,272,681 over the last three months. Corporate insiders own 0.22% of the company’s stock.

Institutional Investors Weigh In On Phillips 66

Institutional investors and hedge funds have recently made changes to their positions in the stock. Norges Bank acquired a new position in Phillips 66 during the fourth quarter valued at $559,435,000. Boston Partners lifted its position in Phillips 66 by 962.0% during 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 purchasing an additional 3,494,878 shares during the period. Bank of New York Mellon Corp lifted its position in Phillips 66 by 38.0% during the first quarter. Bank of New York Mellon Corp now owns 8,019,795 shares of the oil and gas company’s stock valued at $1,309,954,000 after purchasing an additional 2,209,043 shares during the period. International Assets Investment Management LLC acquired a new position in Phillips 66 during the fourth quarter valued at $254,336,000. Finally, Wellington Management Group LLP lifted its position in Phillips 66 by 20.3% during the fourth quarter. Wellington Management Group LLP now owns 10,903,130 shares of the oil and gas company’s stock valued at $1,451,643,000 after purchasing an additional 1,842,226 shares during the period. 76.93% of the stock is currently owned by institutional investors and hedge funds.

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.