Phillips 66 (NYSE:PSX) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of Phillips 66 (NYSE:PSX) from a hold rating to a sell rating in a report released on Wednesday.

Other equities analysts have also issued research reports about the stock. Piper Sandler lowered shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Bank of America began coverage on Phillips 66 in a research note on Thursday, October 17th. They issued a “buy” rating and a $156.00 price target on the stock. Mizuho lowered their price objective on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price on the stock in a research report on Friday, January 3rd. Finally, UBS Group reduced their target price on Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a research note on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $148.00.

Phillips 66 Price Performance

PSX stock opened at $123.31 on Wednesday. The firm has a market cap of $50.93 billion, a P/E ratio of 24.96, a price-to-earnings-growth ratio of 3.89 and a beta of 1.37. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. Phillips 66 has a 1 year low of $108.90 and a 1 year high of $174.08. The stock has a 50-day simple moving average of $120.01 and a 200-day simple moving average of $128.15.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($1.38). Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same quarter last year, the company posted $3.09 earnings per share. On average, equities analysts predict that Phillips 66 will post 7.57 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Czech National Bank boosted its stake in Phillips 66 by 5.5% in the third quarter. Czech National Bank now owns 85,266 shares of the oil and gas company’s stock valued at $11,208,000 after acquiring an additional 4,477 shares during the period. Legacy Private Trust Co. lifted its holdings in shares of Phillips 66 by 13.6% in the 3rd quarter. Legacy Private Trust Co. now owns 2,134 shares of the oil and gas company’s stock worth $281,000 after purchasing an additional 255 shares during the last quarter. Atomi Financial Group Inc. boosted its position in Phillips 66 by 6.9% during the 3rd quarter. Atomi Financial Group Inc. now owns 5,800 shares of the oil and gas company’s stock valued at $762,000 after purchasing an additional 374 shares during the period. Gratus Wealth Advisors LLC grew its stake in Phillips 66 by 24.9% during the 3rd quarter. Gratus Wealth Advisors LLC now owns 2,763 shares of the oil and gas company’s stock worth $383,000 after buying an additional 550 shares during the last quarter. Finally, Future Financial Wealth Managment LLC acquired a new stake in Phillips 66 in the third quarter worth $59,000. 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.