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

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

Other analysts also recently issued research reports about the stock. Bank of America started coverage on shares of Phillips 66 in a report on Thursday, October 17th. They issued a “buy” rating and a $156.00 target price on the stock. Piper Sandler cut shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Mizuho reduced their price objective on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. Scotiabank reduced their price objective on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Finally, 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. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $148.00.

Phillips 66 Stock Down 0.3 %

Shares of NYSE:PSX opened at $120.45 on Wednesday. The company has a market cap of $49.74 billion, a price-to-earnings ratio of 24.38, a PEG ratio of 3.89 and a beta of 1.37. The firm’s 50-day simple moving average is $119.56 and its 200-day simple moving average is $128.06. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. Phillips 66 has a fifty-two week low of $108.90 and a fifty-two week high of $174.08.

Phillips 66 (NYSE:PSX) last issued its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share 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 in the previous year, the company posted $3.09 earnings per share. As a group, equities research analysts predict that Phillips 66 will post 7.57 earnings per share for the current year.

Hedge Funds Weigh In On Phillips 66

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PSX. Mizuho Securities USA LLC raised its position in shares of Phillips 66 by 7,549.0% in the third quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock valued at $328,625,000 after buying an additional 2,467,316 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Phillips 66 in the fourth quarter valued at approximately $168,790,000. Amundi raised its position in shares of Phillips 66 by 25.7% in the fourth quarter. Amundi now owns 3,682,414 shares of the oil and gas company’s stock valued at $428,081,000 after buying an additional 753,653 shares during the last quarter. ING Groep NV raised its position in shares of Phillips 66 by 123.2% in the third quarter. ING Groep NV now owns 1,182,980 shares of the oil and gas company’s stock valued at $155,503,000 after buying an additional 653,032 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Phillips 66 by 7.3% in the fourth quarter. Bank of New York Mellon Corp now owns 9,344,342 shares of the oil and gas company’s stock valued at $1,064,601,000 after buying an additional 639,323 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.