Phillips 66 (NYSE:PSX) Downgraded by StockNews.com to “Hold”

Phillips 66 (NYSE:PSX) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report released on Thursday.

Several other analysts have also recently weighed in on the company. Raymond James boosted their price objective on Phillips 66 from $140.00 to $155.00 and gave the stock an “outperform” rating in a report on Thursday, February 1st. Scotiabank boosted their price objective on Phillips 66 from $148.00 to $156.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 11th. Bank of America boosted their price objective on Phillips 66 from $150.00 to $180.00 and gave the stock a “neutral” rating in a report on Friday, March 15th. Citigroup started coverage on Phillips 66 in a research note on Wednesday, January 24th. They issued a “buy” rating for the company. Finally, The Goldman Sachs Group upped their price target on Phillips 66 from $152.00 to $174.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $158.00.

Phillips 66 Price Performance

NYSE PSX traded down $3.94 on Thursday, hitting $153.31. 2,347,096 shares of the company were exchanged, compared to its average volume of 3,015,383. The firm has a 50 day moving average of $154.22 and a two-hundred day moving average of $135.06. The company has a market cap of $65.59 billion, a P/E ratio of 9.91, a P/E/G ratio of 1.99 and a beta of 1.37. The company has a current ratio of 1.26, a quick ratio of 1.02 and a debt-to-equity ratio of 0.56. Phillips 66 has a 1-year low of $89.74 and a 1-year high of $174.08.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Wednesday, January 31st. The oil and gas company reported $3.09 earnings per share for the quarter, topping the consensus estimate of $2.37 by $0.72. The firm had revenue of $38.74 billion during the quarter, compared to analysts’ expectations of $34.30 billion. Phillips 66 had a return on equity of 22.10% and a net margin of 4.68%. On average, equities analysts predict that Phillips 66 will post 13.2 EPS for the current year.

Insider Activity at Phillips 66

In other news, EVP Richard G. Harbison sold 21,934 shares of Phillips 66 stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the sale, the executive vice president now directly owns 24,941 shares of the company’s stock, valued at $3,648,120.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Phillips 66 news, EVP Richard G. Harbison sold 21,934 shares of Phillips 66 stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $146.27, for a total value of $3,208,286.18. Following the completion of the sale, the executive vice president now directly owns 24,941 shares in the company, valued at $3,648,120.07. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robert W. Pease acquired 682 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were purchased at an average price of $146.58 per share, with a total value of $99,967.56. Following the acquisition, the director now owns 1,900 shares of the company’s stock, valued at $278,502. The disclosure for this purchase can be found here. Insiders have sold 35,056 shares of company stock valued at $5,272,681 over the last ninety days. 0.22% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Ables Iannone Moore & Associates Inc. bought a new stake in shares of Phillips 66 during the 4th quarter valued at $27,000. Main Street Group LTD bought a new position in shares of Phillips 66 during the 4th quarter valued at about $28,000. First United Bank & Trust bought a new position in shares of Phillips 66 during the 4th quarter valued at about $31,000. Rise Advisors LLC purchased a new stake in Phillips 66 during the 1st quarter valued at about $40,000. Finally, Signature Resources Capital Management LLC purchased a new stake in Phillips 66 during the 4th quarter valued at about $33,000. 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.