Phillips 66 (NYSE:PSX) Shares Gap Down After Analyst Downgrade

Phillips 66 (NYSE:PSXGet Free Report) shares gapped down prior to trading on Tuesday after Barclays lowered their price target on the stock from $142.00 to $136.00. The stock had previously closed at $135.95, but opened at $133.02. Barclays currently has an equal weight rating on the stock. Phillips 66 shares last traded at $133.41, with a volume of 75,459 shares.

Several other research analysts have also weighed in on the stock. TD Cowen lowered their target price on shares of Phillips 66 from $164.00 to $155.00 and set a “buy” rating for the company in a research note on Friday, June 21st. Argus restated a “buy” rating and set a $167.00 price target on shares of Phillips 66 in a research note on Thursday, May 30th. Wells Fargo & Company lifted their price objective on Phillips 66 from $179.00 to $191.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. The Goldman Sachs Group boosted their price objective on Phillips 66 from $152.00 to $174.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Finally, JPMorgan Chase & Co. lowered their target price on Phillips 66 from $165.00 to $162.00 and set an “overweight” rating for the company in a report on Tuesday, July 2nd. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $156.64.

Read Our Latest Stock Report on Phillips 66

Insider Buying and Selling

In related news, EVP Timothy D. Roberts sold 37,742 shares of the firm’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $145.80, for a total transaction of $5,502,783.60. Following the sale, the executive vice president now directly owns 48,365 shares in the company, valued at approximately $7,051,617. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.22% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Phillips 66

Institutional investors have recently modified their holdings of the stock. DekaBank Deutsche Girozentrale boosted its position in Phillips 66 by 12.4% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 201,592 shares of the oil and gas company’s stock valued at $26,501,000 after purchasing an additional 22,278 shares during the period. Eldred Rock Partners LLC acquired a new stake in shares of Phillips 66 in the 4th quarter worth about $10,402,000. TIAA Trust National Association lifted its position in Phillips 66 by 32.9% in the 4th quarter. TIAA Trust National Association now owns 14,816 shares of the oil and gas company’s stock valued at $1,973,000 after purchasing an additional 3,670 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in Phillips 66 by 27.7% during the 4th quarter. Daiwa Securities Group Inc. now owns 48,601 shares of the oil and gas company’s stock valued at $6,470,000 after purchasing an additional 10,536 shares during the period. Finally, Teachers Retirement System of The State of Kentucky grew its position in Phillips 66 by 14.3% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 289,395 shares of the oil and gas company’s stock worth $38,530,000 after purchasing an additional 36,116 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Stock Down 2.3 %

The firm’s 50 day simple moving average is $140.76 and its 200 day simple moving average is $145.12. The company has a market cap of $56.30 billion, a price-to-earnings ratio of 10.22, a price-to-earnings-growth ratio of 2.10 and a beta of 1.34. 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:PSXGet Free Report) last announced its earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 net margin of 3.84% and a return on equity of 19.19%. During the same quarter in the prior year, the company earned $4.21 EPS. Sell-side analysts anticipate that Phillips 66 will post 10.99 EPS for the current fiscal year.

Phillips 66 Company Profile

(Get Free Report)

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.

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