Phillips 66 (NYSE:PSX) Earns Hold (C) Rating from Weiss Ratings

Phillips 66 (NYSE:PSX)‘s stock had its “hold (c)” rating reissued by analysts at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

Several other research analysts have also issued reports on the company. Scotiabank reaffirmed a “sector perform” rating and set a $133.00 target price on shares of Phillips 66 in a research report on Friday, July 11th. Cantor Fitzgerald began coverage on Phillips 66 in a report on Wednesday, June 18th. They set a “neutral” rating for the company. UBS Group increased their price target on Phillips 66 from $143.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, September 22nd. Wall Street Zen upgraded Phillips 66 from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Finally, Barclays increased their price target on Phillips 66 from $127.00 to $132.00 and gave the stock an “equal weight” rating in a report on Tuesday. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Phillips 66 currently has an average rating of “Moderate Buy” and an average price target of $140.50.

Phillips 66 Stock Down 0.8%

Shares of NYSE:PSX opened at $131.31 on Wednesday. The firm has a market cap of $53.07 billion, a P/E ratio of 31.56, a P/E/G ratio of 1.93 and a beta of 1.11. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.60. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $142.35. The business has a fifty day simple moving average of $129.21 and a 200 day simple moving average of $120.58.

Phillips 66 (NYSE:PSX) last announced its earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.59. The business had revenue of $33.77 billion during the quarter, compared to analyst estimates of $32.11 billion. Phillips 66 had a return on equity of 4.87% and a net margin of 1.27%.During the same period last year, the company earned $2.31 EPS. Analysts predict that Phillips 66 will post 6.8 earnings per share for the current year.

Insider Transactions at Phillips 66

In related news, Director Michael A. Heim purchased 1,000 shares of the business’s stock in a transaction on Wednesday, July 30th. The stock was acquired at an average price of $125.97 per share, for a total transaction of $125,970.00. Following the purchase, the director owned 12,043 shares of the company’s stock, valued at approximately $1,517,056.71. This trade represents a 9.06% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of Phillips 66 stock in a transaction dated Friday, September 26th. The shares were sold at an average price of $140.00, for a total value of $615,020.00. Following the transaction, the executive vice president owned 34,587 shares of the company’s stock, valued at $4,842,180. This trade represents a 11.27% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 9,850 shares of company stock valued at $1,188,910. 0.22% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Phillips 66

A number of hedge funds have recently added to or reduced their stakes in PSX. Brighton Jones LLC boosted its stake in Phillips 66 by 238.5% during the 4th quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company’s stock valued at $1,166,000 after purchasing an additional 7,214 shares during the last quarter. Portside Wealth Group LLC boosted its stake in Phillips 66 by 7.5% during the 1st quarter. Portside Wealth Group LLC now owns 1,910 shares of the oil and gas company’s stock valued at $236,000 after purchasing an additional 133 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in Phillips 66 by 65.6% during the 1st quarter. Farther Finance Advisors LLC now owns 13,558 shares of the oil and gas company’s stock valued at $1,686,000 after purchasing an additional 5,372 shares during the last quarter. Pallas Capital Advisors LLC boosted its stake in shares of Phillips 66 by 63.2% in the 1st quarter. Pallas Capital Advisors LLC now owns 3,666 shares of the oil and gas company’s stock worth $453,000 after buying an additional 1,419 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Phillips 66 by 15.2% in the 1st quarter. GAMMA Investing LLC now owns 9,634 shares of the oil and gas company’s stock worth $1,190,000 after buying an additional 1,268 shares during the last quarter. Institutional investors and hedge funds 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.