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

Phillips 66 (NYSE:PSX) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a report released on Friday.

PSX has been the topic of several other reports. Bank of America assumed coverage on Phillips 66 in a research report on Thursday, October 17th. They issued a “buy” rating and a $156.00 target price on the stock. Barclays reduced their price objective on Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Piper Sandler downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Wolfe Research upgraded shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target on the stock in a report on Friday, January 3rd. Finally, Wells Fargo & Company boosted their price objective on shares of Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Phillips 66 currently has a consensus rating of “Moderate Buy” and a consensus target price of $148.00.

Phillips 66 Trading Up 2.1 %

NYSE PSX opened at $128.24 on Friday. The company has a market cap of $52.96 billion, a P/E ratio of 25.96, a P/E/G ratio of 5.64 and a beta of 1.37. Phillips 66 has a 12 month low of $108.90 and a 12 month high of $174.08. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The company has a 50-day moving average of $118.74 and a 200-day moving average of $127.45.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Friday, January 31st. The oil and gas company reported ($0.15) EPS for the quarter, missing the consensus estimate 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 posted $3.09 EPS. As a group, equities analysts predict that Phillips 66 will post 7.14 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Exchange Traded Concepts LLC increased its holdings in Phillips 66 by 22.7% during the 3rd quarter. Exchange Traded Concepts LLC now owns 5,483 shares of the oil and gas company’s stock worth $721,000 after purchasing an additional 1,014 shares during the last quarter. Vontobel Holding Ltd. grew its position in shares of Phillips 66 by 171.3% during the third quarter. Vontobel Holding Ltd. now owns 31,424 shares of the oil and gas company’s stock worth $4,131,000 after buying an additional 19,842 shares in the last quarter. SPC Financial Inc. increased its stake in shares of Phillips 66 by 5.1% in the third quarter. SPC Financial Inc. now owns 2,094 shares of the oil and gas company’s stock worth $275,000 after buying an additional 102 shares during the last quarter. nVerses Capital LLC acquired a new stake in Phillips 66 in the third quarter valued at $26,000. Finally, Good Life Advisors LLC boosted its stake in Phillips 66 by 10.0% during the 3rd quarter. Good Life Advisors LLC now owns 3,639 shares of the oil and gas company’s stock valued at $478,000 after acquiring an additional 330 shares during the last quarter. Institutional investors and hedge funds 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.