Phillips 66 (NYSE:PSX) Downgraded by Tudor Pickering to Hold

Phillips 66 (NYSE:PSX) was downgraded by analysts at Tudor Pickering from a “strong-buy” rating to a “hold” rating in a research note issued on Thursday,Zacks.com reports.

A number of other analysts also recently weighed in on the company. Raymond James decreased their price objective on Phillips 66 from $150.00 to $140.00 and set an “outperform” rating for the company in a report on Wednesday, April 9th. Mizuho increased their price objective on Phillips 66 from $132.00 to $138.00 and gave the company a “neutral” rating in a report on Tuesday, May 13th. Scotiabank decreased their price objective on Phillips 66 from $136.00 to $133.00 and set a “sector outperform” rating for the company in a report on Friday, April 11th. TD Cowen increased their price objective on Phillips 66 from $114.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, May 13th. Finally, JPMorgan Chase & Co. cut their price target on shares of Phillips 66 from $138.00 to $131.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 29th. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Phillips 66 currently has a consensus rating of “Moderate Buy” and an average price target of $137.86.

Phillips 66 Stock Up 0.1%

Shares of NYSE:PSX opened at $113.13 on Thursday. The company has a fifty day moving average of $110.60 and a 200-day moving average of $119.07. The company has a market capitalization of $46.09 billion, a PE ratio of 22.90, a price-to-earnings-growth ratio of 4.84 and a beta of 1.01. 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 52-week low of $91.01 and a 52-week high of $150.12.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.97). The company had revenue of $31.92 billion for the quarter, compared to analyst estimates of $31.93 billion. Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. During the same quarter last year, the company posted $1.90 earnings per share. On average, equities analysts predict that Phillips 66 will post 6.8 EPS for the current fiscal year.

Hedge Funds Weigh In On Phillips 66

Large investors have recently added to or reduced their stakes in the business. Bogart Wealth LLC increased its stake in shares of Phillips 66 by 120.0% during the 4th quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 120 shares during the last quarter. J.Safra Asset Management Corp purchased a new position in Phillips 66 in the 4th quarter valued at approximately $25,000. Pacific Center for Financial Services purchased a new position in Phillips 66 in the 4th quarter valued at approximately $27,000. von Borstel & Associates Inc. bought a new position in Phillips 66 in the 1st quarter valued at $27,000. Finally, Stephens Consulting LLC boosted its holdings in Phillips 66 by 83.5% in the 4th quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 111 shares during the period. Institutional investors 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.