Phillips 66 (NYSE:PSX – Get Free Report) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.
Several other equities research analysts also recently commented on the company. Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price for the company in a report on Friday, January 3rd. UBS Group reduced their price objective on Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Piper Sandler downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Wells Fargo & Company increased their price objective on Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Finally, Mizuho reduced their price objective on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $148.00.
Get Our Latest Stock Analysis on PSX
Phillips 66 Trading Down 2.1 %
Phillips 66 (NYSE:PSX – Get Free Report) last announced its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of $1.23 by ($1.38). Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same period in the prior year, the firm posted $3.09 EPS. On average, sell-side analysts expect that Phillips 66 will post 6.8 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in PSX. Putney Financial Group LLC acquired a new stake in Phillips 66 in the 4th quarter valued at approximately $77,000. Mackenzie Financial Corp grew its holdings in Phillips 66 by 14.1% in the 4th quarter. Mackenzie Financial Corp now owns 42,439 shares of the oil and gas company’s stock valued at $4,835,000 after buying an additional 5,233 shares during the last quarter. Forum Financial Management LP grew its holdings in Phillips 66 by 1.0% in the 4th quarter. Forum Financial Management LP now owns 7,486 shares of the oil and gas company’s stock valued at $853,000 after buying an additional 77 shares during the last quarter. GF Fund Management CO. LTD. acquired a new stake in Phillips 66 in the 4th quarter valued at approximately $12,956,000. Finally, CTC Alternative Strategies Ltd. acquired a new stake in Phillips 66 in the 4th quarter valued at approximately $206,000. Institutional investors and hedge funds 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.
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