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

Phillips 66 (NYSE:PSX) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Saturday.

Several other research firms have also commented on PSX. Barclays lowered their price objective on shares of Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. UBS Group lowered their price objective on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Wells Fargo & Company increased their target price on shares of Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Wolfe Research raised shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price on the stock in a research note on Friday, January 3rd. Finally, Mizuho reduced their target price on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock 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.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $148.00.

Phillips 66 Price Performance

PSX stock opened at $128.78 on Friday. Phillips 66 has a 52 week low of $108.90 and a 52 week high of $174.08. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The company has a fifty day simple moving average of $119.17 and a two-hundred day simple moving average of $127.11. The firm has a market capitalization of $53.18 billion, a P/E ratio of 26.07, a price-to-earnings-growth ratio of 4.78 and a beta of 1.37.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) EPS 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 quarter in the prior year, the business posted $3.09 EPS. Analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in PSX. Price T Rowe Associates Inc. MD increased its position in Phillips 66 by 283.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,026,649 shares of the oil and gas company’s stock valued at $686,618,000 after purchasing an additional 4,455,220 shares during the period. Norges Bank purchased a new position in Phillips 66 during the 4th quarter valued at about $497,648,000. Mizuho Securities USA LLC increased its position in Phillips 66 by 7,549.0% during the 3rd quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock valued at $328,625,000 after purchasing an additional 2,467,316 shares during the period. Raymond James Financial Inc. purchased a new position in Phillips 66 during the 4th quarter valued at about $168,790,000. Finally, Capitolis Liquid Global Markets LLC purchased a new position in Phillips 66 during the 4th quarter valued at about $142,185,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

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.