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

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

A number of other research analysts have also issued reports on PSX. Barclays lowered 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 report on Monday, January 13th. Piper Sandler cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. UBS Group reduced their target price on Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Mizuho cut their price objective on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a research report on Monday, December 16th. Finally, Bank of America started coverage on shares of Phillips 66 in a report on Thursday, October 17th. They issued a “buy” rating and a $156.00 target price on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $148.00.

Phillips 66 Stock Performance

PSX opened at $120.71 on Wednesday. The firm has a market capitalization of $49.85 billion, a PE ratio of 24.44, a PEG ratio of 3.89 and a beta of 1.37. Phillips 66 has a 52-week low of $108.90 and a 52-week high of $174.08. The business’s 50-day simple moving average is $119.81 and its 200 day simple moving average is $128.11. 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 (NYSE:PSX) last released 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 quarter in the prior year, the firm earned $3.09 earnings per share. As a group, sell-side analysts expect that Phillips 66 will post 7.57 earnings per share for the current fiscal year.

Institutional Trading of Phillips 66

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Bogart Wealth LLC boosted its stake in shares of Phillips 66 by 120.0% in the 4th quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 120 shares during the last quarter. J.Safra Asset Management Corp acquired a new position in Phillips 66 in the fourth quarter valued at $25,000. nVerses Capital LLC bought a new stake in Phillips 66 during the third quarter valued at $26,000. Stephens Consulting LLC grew its holdings in Phillips 66 by 83.5% during the 4th quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company’s stock worth $28,000 after acquiring an additional 111 shares during the period. Finally, Values First Advisors Inc. bought a new position in shares of Phillips 66 in the 3rd quarter worth about $30,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

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.