Phillips 66 (NYSE:PSX) Lowered to “Neutral” Rating by The Goldman Sachs Group

The Goldman Sachs Group lowered shares of Phillips 66 (NYSE:PSX) from a buy rating to a neutral rating in a report released on Thursday, MarketBeat.com reports. They currently have $132.00 price objective on the oil and gas company’s stock.

Other research analysts have also recently issued reports about the stock. StockNews.com cut shares of Phillips 66 from a “hold” rating to a “sell” rating in a report on Sunday, March 2nd. 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 research note on Friday, January 3rd. Barclays increased their price target on Phillips 66 from $115.00 to $135.00 and gave the company an “equal weight” rating in a research note on Friday, March 14th. Wells Fargo & Company lifted their target price on shares of Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Finally, Piper Sandler lowered Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $146.43.

Phillips 66 Stock Performance

Shares of NYSE PSX opened at $124.89 on Thursday. Phillips 66 has a 52 week low of $108.91 and a 52 week high of $174.08. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. The stock has a 50 day moving average price of $124.74 and a 200 day moving average price of $125.57. The stock has a market capitalization of $50.92 billion, a PE ratio of 25.28, a price-to-earnings-growth ratio of 4.84 and a beta of 1.31.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Friday, January 31st. The oil and gas company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($1.38). Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. During the same period in the prior year, the firm posted $3.09 EPS. Analysts predict that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were paid a dividend of $1.15 per share. The ex-dividend date was Monday, February 24th. This represents a $4.60 dividend on an annualized basis and a yield of 3.68%. Phillips 66’s dividend payout ratio is currently 93.12%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of PSX. Bogart Wealth LLC grew its position in Phillips 66 by 120.0% during the fourth quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 120 shares during the period. J.Safra Asset Management Corp purchased a new position in shares of Phillips 66 in the 4th quarter worth approximately $25,000. Pacific Center for Financial Services bought a new position in Phillips 66 during the 4th quarter valued at about $27,000. Stephens Consulting LLC increased its stake in Phillips 66 by 83.5% in the fourth quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 111 shares during the period. Finally, Graney & King LLC bought a new position in Phillips 66 in the 4th quarter worth about $28,000. 76.93% of the stock is owned by institutional investors.

Phillips 66 Company Profile

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.