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

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

A number of other equities analysts have also issued reports on PSX. Mizuho decreased their price objective on Phillips 66 from $167.00 to $162.00 and set a “neutral” rating for the company in a report on Friday, April 12th. The Goldman Sachs Group increased their price objective on Phillips 66 from $152.00 to $174.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Raymond James increased their target price on shares of Phillips 66 from $140.00 to $155.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. Scotiabank increased their target price on shares of Phillips 66 from $148.00 to $156.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 11th. Finally, Bank of America raised their price target on Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a research report on Friday, March 15th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Phillips 66 presently has an average rating of “Moderate Buy” and an average price target of $158.00.

Phillips 66 Stock Down 3.6 %

NYSE:PSX opened at $151.52 on Friday. The firm has a market capitalization of $64.82 billion, a PE ratio of 9.79, a price-to-earnings-growth ratio of 1.91 and a beta of 1.37. The stock has a 50 day moving average of $155.55 and a 200-day moving average of $136.88. Phillips 66 has a 52 week low of $89.74 and a 52 week high of $174.08. The company has a current ratio of 1.26, a quick ratio of 1.02 and a debt-to-equity ratio of 0.56.

Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, April 26th. The oil and gas company reported $1.90 EPS for the quarter, missing the consensus estimate of $2.60 by ($0.70). Phillips 66 had a net margin of 4.68% and a return on equity of 22.10%. During the same period in the prior year, the business earned $4.21 EPS. Analysts predict that Phillips 66 will post 13.77 EPS for the current year.

Insider Activity

In other news, EVP Richard G. Harbison sold 21,934 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $146.27, for a total value of $3,208,286.18. Following the completion of the transaction, the executive vice president now owns 24,941 shares in the company, valued at approximately $3,648,120.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Phillips 66 news, VP Joseph Scott Pruitt sold 7,200 shares of the firm’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 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 $1,035,242.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Richard G. Harbison sold 21,934 shares of the firm’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 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 35,056 shares of company stock valued at $5,272,681 in the last quarter. 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 modified their holdings of PSX. Madison Park Capital Advisors LLC lifted its holdings in Phillips 66 by 3.0% in the first quarter. Madison Park Capital Advisors LLC now owns 2,346 shares of the oil and gas company’s stock valued at $383,000 after buying an additional 68 shares during the period. Premier Path Wealth Partners LLC grew its position in Phillips 66 by 1.6% in the 1st quarter. Premier Path Wealth Partners LLC now owns 4,464 shares of the oil and gas company’s stock worth $729,000 after purchasing an additional 71 shares in the last quarter. Warwick Investment Management Inc. grew its position in shares of Phillips 66 by 3.1% during the 4th quarter. Warwick Investment Management Inc. now owns 2,395 shares of the oil and gas company’s stock valued at $319,000 after acquiring an additional 73 shares during the period. MV Capital Management Inc. grew its position in shares of Phillips 66 by 9.6% during the 1st quarter. MV Capital Management Inc. now owns 837 shares of the oil and gas company’s stock valued at $137,000 after acquiring an additional 73 shares during the period. Finally, HCR Wealth Advisors grew its position in shares of Phillips 66 by 2.9% during the 4th quarter. HCR Wealth Advisors now owns 2,640 shares of the oil and gas company’s stock valued at $351,000 after acquiring an additional 74 shares during the period. Institutional investors own 76.93% of the company’s stock.

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.