Phillips 66 (NYSE:PSX) Downgraded by StockNews.com

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

Several other analysts have also recently commented on PSX. JPMorgan Chase & Co. raised their price objective on shares of Phillips 66 from $149.00 to $167.00 and gave the company an “overweight” rating in a research note on Monday, April 1st. Citigroup assumed coverage on shares of Phillips 66 in a report on Wednesday, January 24th. They set a “buy” rating for the company. Wells Fargo & Company raised their target price on shares of Phillips 66 from $179.00 to $191.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Mizuho dropped their target price on shares of Phillips 66 from $167.00 to $162.00 and set a “neutral” rating for the company in a report on Friday, April 12th. Finally, Barclays raised their target price on shares of Phillips 66 from $139.00 to $155.00 and gave the company an “equal weight” rating in a report on Thursday, April 18th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Phillips 66 has an average rating of “Moderate Buy” and a consensus target price of $158.00.

Phillips 66 Stock Down 3.7 %

Shares of NYSE PSX opened at $151.41 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.26 and a debt-to-equity ratio of 0.56. Phillips 66 has a 52 week low of $89.74 and a 52 week high of $174.08. The firm has a 50-day moving average price of $155.55 and a 200 day moving average price of $137.23. The stock has a market capitalization of $64.78 billion, a price-to-earnings ratio of 11.65, a price-to-earnings-growth ratio of 1.83 and a beta of 1.37.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.90 EPS for the quarter, missing the consensus estimate of $2.05 by ($0.15). Phillips 66 had a net margin of 4.68% and a return on equity of 22.10%. The company had revenue of $36.44 billion during the quarter, compared to analyst estimates of $35.87 billion. During the same quarter last year, the business earned $4.21 EPS. Equities research analysts anticipate that Phillips 66 will post 13.77 EPS for the current fiscal year.

Insider Transactions at Phillips 66

In other news, VP Joseph Scott Pruitt sold 7,200 shares of Phillips 66 stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $157.26, for a total transaction of $1,132,272.00. Following the completion of the sale, the vice president now directly owns 6,583 shares in the company, valued at $1,035,242.58. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Robert W. Pease bought 682 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were acquired at an average cost of $146.58 per share, with a total value of $99,967.56. Following the completion of the transaction, the director now owns 1,900 shares of the company’s stock, valued at $278,502. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Joseph Scott Pruitt sold 7,200 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $157.26, for a total transaction of $1,132,272.00. Following the completion of the sale, the vice president now directly owns 6,583 shares in the company, valued at $1,035,242.58. The disclosure for this sale can be found here. Insiders sold a total of 35,056 shares of company stock worth $5,272,681 over the last ninety days. 0.22% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Phillips 66

Hedge funds have recently modified their holdings of the stock. Redmont Wealth Advisors LLC acquired a new stake in shares of Phillips 66 in the first quarter worth approximately $28,000. Ables Iannone Moore & Associates Inc. acquired a new position in Phillips 66 during the fourth quarter valued at approximately $27,000. First United Bank & Trust acquired a new position in Phillips 66 during the fourth quarter valued at approximately $31,000. Rise Advisors LLC acquired a new position in Phillips 66 during the first quarter valued at approximately $40,000. Finally, Signature Resources Capital Management LLC acquired a new position in Phillips 66 during the fourth quarter valued at approximately $33,000. 76.93% of the stock is 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.