Phillips 66 (NYSE:PSX) Cut to Sell at StockNews.com

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

PSX has been the topic of a number of other reports. 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 report on Friday, January 3rd. Wells Fargo & Company raised 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. Barclays reduced their target price on shares of Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Piper Sandler lowered shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Finally, UBS Group cut their price objective on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, November 4th. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $148.00.

Phillips 66 Stock Performance

Phillips 66 stock opened at $129.81 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. Phillips 66 has a 1-year low of $108.90 and a 1-year high of $174.08. The firm has a market capitalization of $52.92 billion, a P/E ratio of 26.28, a price-to-earnings-growth ratio of 4.84 and a beta of 1.37. The company’s 50-day moving average is $120.60 and its 200 day moving average is $126.80.

Phillips 66 (NYSE:PSX) last issued its 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 quarter in the previous year, the business earned $3.09 EPS. Research analysts forecast that Phillips 66 will post 6.8 EPS for the current year.

Institutional Investors Weigh In On Phillips 66

Several institutional investors have recently bought and sold shares of the company. Forum Financial Management LP boosted its stake in Phillips 66 by 1.0% in the fourth quarter. Forum Financial Management LP now owns 7,486 shares of the oil and gas company’s stock valued at $853,000 after acquiring an additional 77 shares in the last quarter. NewEdge Wealth LLC lifted its stake in shares of Phillips 66 by 0.5% during the fourth quarter. NewEdge Wealth LLC now owns 15,199 shares of the oil and gas company’s stock worth $1,732,000 after buying an additional 81 shares during the period. JBR Co Financial Management Inc lifted its stake in shares of Phillips 66 by 0.9% during the fourth quarter. JBR Co Financial Management Inc now owns 9,520 shares of the oil and gas company’s stock worth $1,085,000 after buying an additional 85 shares during the period. Nwam LLC lifted its stake in shares of Phillips 66 by 2.2% during the fourth quarter. Nwam LLC now owns 3,876 shares of the oil and gas company’s stock worth $442,000 after buying an additional 85 shares during the period. Finally, Webster Bank N. A. lifted its stake in shares of Phillips 66 by 48.4% during the fourth quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock worth $31,000 after buying an additional 88 shares during the period. 76.93% of the stock is currently owned by institutional investors and hedge funds.

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.