Phillips 66 (NYSE:PSX) Stock Rating Lowered by StockNews.com

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

Several other research analysts have also recently issued reports on PSX. Mizuho dropped their target price on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Wolfe Research upgraded shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective on the stock in a research note on Friday, January 3rd. Wells Fargo & Company boosted their price objective on shares of Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a research note on Monday. Bank of America assumed coverage on Phillips 66 in a research report on Thursday, October 17th. They set a “buy” rating and a $156.00 target price on the stock. Finally, Scotiabank decreased their price objective on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. One research 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. According to data from MarketBeat, Phillips 66 has a consensus rating of “Moderate Buy” and a consensus price target of $148.00.

Phillips 66 Trading Down 0.2 %

Shares of NYSE:PSX traded down $0.30 during trading on Wednesday, reaching $123.31. 2,495,318 shares of the company were exchanged, compared to its average volume of 3,146,031. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The firm has a market capitalization of $50.93 billion, a PE ratio of 24.96, a P/E/G ratio of 3.89 and a beta of 1.37. The business’s fifty day simple moving average is $120.01 and its 200-day simple moving average is $128.15. Phillips 66 has a 12-month low of $108.90 and a 12-month high of $174.08.

Phillips 66 (NYSE:PSX) last issued its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates 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 prior year, the business earned $3.09 EPS. On average, research analysts anticipate that Phillips 66 will post 7.57 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in PSX. Van ECK Associates Corp increased its position in shares of Phillips 66 by 263.3% in the 3rd quarter. Van ECK Associates Corp now owns 83,278 shares of the oil and gas company’s stock valued at $10,753,000 after acquiring an additional 60,355 shares during the period. Everence Capital Management Inc. acquired a new position in shares of Phillips 66 in the fourth quarter valued at about $3,033,000. Donoghue Forlines LLC purchased a new position in shares of Phillips 66 in the fourth quarter worth about $1,438,000. Mizuho Securities USA LLC raised its stake in shares of Phillips 66 by 7,549.0% in the third quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock worth $328,625,000 after purchasing an additional 2,467,316 shares during the last quarter. Finally, Smith Group Asset Management LLC purchased a new stake in Phillips 66 in the fourth quarter valued at approximately $1,149,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

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.