Phillips 66 (NYSE:PSX) Cut to Sell at StockNews.com

StockNews.com cut shares of Phillips 66 (NYSE:PSX) from a hold rating to a sell rating in a research note issued to investors on Sunday.

PSX has been the topic of a number of other reports. 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 report on Monday, February 3rd. Barclays reduced their price objective on shares of Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Mizuho reduced their price objective 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. UBS Group reduced their price objective on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Finally, 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 report on Friday, January 3rd. One analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $148.00.

Phillips 66 Price Performance

Phillips 66 stock opened at $122.48 on Friday. The firm has a market cap of $49.93 billion, a PE ratio of 24.79, a price-to-earnings-growth ratio of 4.84 and a beta of 1.37. Phillips 66 has a 52-week low of $108.90 and a 52-week high of $174.08. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The company’s 50 day moving average is $121.11 and its two-hundred day moving average is $126.51.

Phillips 66 (NYSE:PSX) last released its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share (EPS) 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 quarter last year, the business earned $3.09 EPS. On average, research analysts expect that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th will be given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 3.76%. The ex-dividend date is Monday, February 24th. Phillips 66’s payout ratio is currently 93.12%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Forum Financial Management LP grew its position in Phillips 66 by 1.0% during the 4th quarter. Forum Financial Management LP now owns 7,486 shares of the oil and gas company’s stock worth $853,000 after purchasing an additional 77 shares during the last quarter. NewEdge Wealth LLC grew its position in Phillips 66 by 0.5% during the 4th quarter. NewEdge Wealth LLC now owns 15,199 shares of the oil and gas company’s stock worth $1,732,000 after purchasing an additional 81 shares during the last quarter. JBR Co Financial Management Inc grew its position in Phillips 66 by 0.9% during the 4th quarter. JBR Co Financial Management Inc now owns 9,520 shares of the oil and gas company’s stock worth $1,085,000 after purchasing an additional 85 shares during the last quarter. Nwam LLC boosted its holdings in shares of Phillips 66 by 2.2% in the fourth quarter. Nwam LLC now owns 3,876 shares of the oil and gas company’s stock valued at $442,000 after acquiring an additional 85 shares in the last quarter. Finally, Webster Bank N. A. boosted its holdings in shares of Phillips 66 by 48.4% in the fourth quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 88 shares in the last quarter. 76.93% of the stock is owned by hedge funds and other 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.