Phillips 66 (NYSE:PSX) Lowered to Neutral Rating by The Goldman Sachs Group

The Goldman Sachs Group downgraded shares of Phillips 66 (NYSE:PSX) from a buy rating to a neutral rating in a research report report published on Thursday, Marketbeat Ratings reports. The brokerage currently has $132.00 price objective on the oil and gas company’s stock.

A number of other equities analysts have also recently issued reports on the company. StockNews.com cut Phillips 66 from a “hold” rating to a “sell” rating in a report on Sunday, March 2nd. Wells Fargo & Company raised their price objective on shares of Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Mizuho decreased their target price 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. Barclays raised their price target on shares of Phillips 66 from $115.00 to $135.00 and gave the company an “equal weight” rating in a research report on Friday, March 14th. Finally, Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective for the company in a report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $146.43.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $121.67 on Thursday. The firm has a market capitalization of $49.60 billion, a P/E ratio of 24.63, a P/E/G ratio of 4.84 and a beta of 1.31. The firm’s 50-day moving average price is $124.76 and its 200-day moving average price is $125.51. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. Phillips 66 has a 1-year low of $108.91 and a 1-year high of $174.08.

Phillips 66 (NYSE:PSX) last posted its quarterly 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 return on equity of 8.58% and a net margin of 1.46%. During the same period last year, the company earned $3.09 EPS. Equities research analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were paid a $1.15 dividend. The ex-dividend date was Monday, February 24th. This represents a $4.60 dividend on an annualized basis and a yield of 3.78%. Phillips 66’s dividend payout ratio (DPR) is presently 93.12%.

Institutional Investors Weigh In On Phillips 66

A number of hedge funds have recently made changes to their positions in PSX. Oppenheimer & Co. Inc. raised its position in Phillips 66 by 10.6% in the fourth quarter. Oppenheimer & Co. Inc. now owns 46,953 shares of the oil and gas company’s stock worth $5,349,000 after acquiring an additional 4,515 shares during the period. Flavin Financial Services Inc. purchased a new stake in shares of Phillips 66 during the 4th quarter worth approximately $1,190,000. Everence Capital Management Inc. bought a new stake in shares of Phillips 66 in the 4th quarter worth approximately $3,033,000. Donoghue Forlines LLC purchased a new position in Phillips 66 in the fourth quarter valued at approximately $1,438,000. Finally, Smith Group Asset Management LLC bought a new position in Phillips 66 during the fourth quarter valued at $1,149,000. 76.93% of the stock is currently owned by institutional investors.

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.