Wall Street Zen Downgrades Phillips 66 (NYSE:PSX) to Buy

Phillips 66 (NYSE:PSX) was downgraded by research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report issued on Saturday.

PSX has been the subject of several other reports. TD Cowen raised their price objective on Phillips 66 from $155.00 to $213.00 and gave the stock a “buy” rating in a research note on Wednesday, April 1st. Weiss Ratings downgraded shares of Phillips 66 from a “buy (b-)” rating to a “hold (c)” rating in a report on Friday, May 1st. JPMorgan Chase & Co. raised their price target on shares of Phillips 66 from $188.00 to $202.00 in a research report on Thursday, April 30th. Citigroup lifted their price objective on shares of Phillips 66 from $159.00 to $183.00 and gave the company a “neutral” rating in a research note on Thursday, April 9th. Finally, Raymond James Financial upped their price objective on shares of Phillips 66 from $205.00 to $215.00 in a report on Thursday, April 30th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $186.28.

Phillips 66 Price Performance

Shares of PSX opened at $176.42 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.13 and a quick ratio of 0.85. The company’s fifty day moving average price is $170.79 and its 200-day moving average price is $151.93. Phillips 66 has a 1-year low of $109.75 and a 1-year high of $190.61. The firm has a market capitalization of $70.73 billion, a PE ratio of 17.38, a price-to-earnings-growth ratio of 0.26 and a beta of 0.70.

Phillips 66 (NYSE:PSX) last issued its earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.54) by $1.03. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The company had revenue of $32.54 billion during the quarter, compared to analyst estimates of $35.86 billion. During the same quarter last year, the business posted ($0.90) EPS. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. On average, equities research analysts predict that Phillips 66 will post 17.64 EPS for the current year.

Insider Activity

In other news, EVP Brian Mandell sold 42,800 shares of the firm’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $169.53, for a total value of $7,255,884.00. Following the transaction, the executive vice president owned 61,595 shares in the company, valued at $10,442,200.35. This trade represents a 41.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Lisa Ann Davis sold 3,800 shares of Phillips 66 stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $174.37, for a total value of $662,606.00. Following the completion of the sale, the director directly owned 8,701 shares in the company, valued at $1,517,193.37. This represents a 30.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 121,529 shares of company stock worth $20,841,455. Company insiders own 0.40% of the company’s stock.

Institutional Investors Weigh In On Phillips 66

Several institutional investors and hedge funds have recently added to or reduced their stakes in PSX. Board of the Pension Protection Fund purchased a new stake in shares of Phillips 66 during the fourth quarter worth $26,000. Accordant Advisory Group Inc boosted its position in Phillips 66 by 900.0% during the fourth quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 180 shares during the last quarter. Eagle Bay Advisors LLC acquired a new position in Phillips 66 during the fourth quarter worth about $27,000. NFSG Corp grew its stake in Phillips 66 by 105.6% during the 1st quarter. NFSG Corp now owns 146 shares of the oil and gas company’s stock valued at $27,000 after acquiring an additional 75 shares in the last quarter. Finally, SWAN Capital LLC grew its stake in Phillips 66 by 1,055.6% during the 4th quarter. SWAN Capital LLC now owns 208 shares of the oil and gas company’s stock valued at $27,000 after acquiring an additional 190 shares in the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Company Profile

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.