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

The Goldman Sachs Group cut shares of Phillips 66 (NYSE:PSX) from a buy rating to a neutral rating in a research note released on Thursday morning, MarketBeat reports. The firm currently has $132.00 price objective on the oil and gas company’s stock.

Several other research firms have also recently issued reports on PSX. Wells Fargo & Company raised their price target on shares of Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Piper Sandler lowered shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. StockNews.com downgraded Phillips 66 from a “hold” rating to a “sell” rating in a report on Sunday, March 2nd. Mizuho reduced their price target on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a research note on Monday, December 16th. Finally, Barclays lifted their price objective on Phillips 66 from $115.00 to $135.00 and gave the company an “equal weight” rating in a research report on Friday, March 14th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Phillips 66 has a consensus rating of “Moderate Buy” and an average target price of $146.43.

Phillips 66 Price Performance

PSX stock opened at $124.89 on Thursday. The stock’s 50 day moving average price is $124.74 and its 200 day moving average price is $125.57. The firm has a market cap of $50.92 billion, a P/E ratio of 25.28, a PEG ratio of 4.84 and a beta of 1.31. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. Phillips 66 has a 1 year low of $108.91 and a 1 year high of $174.08.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share (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 period in the previous year, the company earned $3.09 earnings per share. On average, sell-side analysts expect that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

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

Institutional Trading of Phillips 66

Several large investors have recently made changes to their positions in the business. Bogart Wealth LLC grew its holdings in Phillips 66 by 120.0% during the 4th quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 120 shares during the period. J.Safra Asset Management Corp acquired a new position in Phillips 66 in the fourth quarter valued at about $25,000. Pacific Center for Financial Services bought a new position in Phillips 66 during the fourth quarter worth about $27,000. Stephens Consulting LLC grew its holdings in Phillips 66 by 83.5% during the fourth quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 111 shares during the period. Finally, Graney & King LLC bought a new stake in shares of Phillips 66 in the 4th quarter valued at $28,000. 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.