Phillips 66 (NYSE:PSX) Stock Rating Lowered by Wall Street Zen

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

A number of other brokerages also recently weighed in on PSX. Argus boosted their target price on Phillips 66 from $185.00 to $197.00 and gave the stock a “buy” rating in a research note on Thursday, May 14th. The Goldman Sachs Group increased their price target on Phillips 66 from $192.00 to $207.00 and gave the company a “neutral” rating in a research report on Tuesday, May 19th. Mizuho upgraded Phillips 66 from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $170.00 to $212.00 in a report on Wednesday, May 27th. UBS Group reissued a “buy” rating and issued a $212.00 price objective on shares of Phillips 66 in a research report on Monday, June 15th. Finally, Piper Sandler upped their price objective on Phillips 66 from $168.00 to $177.00 and gave the company a “neutral” rating in a research note on Wednesday, April 8th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $196.06.

Phillips 66 Stock Up 0.0%

Phillips 66 stock opened at $206.96 on Friday. Phillips 66 has a fifty-two week low of $118.07 and a fifty-two week high of $207.14. The stock has a market cap of $82.97 billion, a PE ratio of 20.39, a price-to-earnings-growth ratio of 0.27 and a beta of 0.69. The firm’s 50-day simple moving average is $179.03 and its 200 day simple moving average is $165.75. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 1.13.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported $0.49 EPS for the quarter, beating the consensus estimate of ($0.54) by $1.03. The firm had revenue of $32.54 billion during the quarter, compared to analyst estimates of $35.86 billion. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter last year, the business posted ($0.90) EPS. Research analysts predict that Phillips 66 will post 19.84 EPS for the current fiscal year.

Insider Activity at Phillips 66

In related news, Director Kevin Omar Meyers purchased 175 shares of the firm’s stock in a transaction dated Wednesday, May 6th. The stock was bought at an average price of $173.12 per share, for a total transaction of $30,296.00. Following the purchase, the director directly owned 16,799 shares in the company, valued at approximately $2,908,242.88. This trade represents a 1.05% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kevin J. Mitchell sold 11,021 shares of Phillips 66 stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $190.03, for a total transaction of $2,094,320.63. Following the completion of the sale, the chief financial officer directly owned 97,376 shares in the company, valued at $18,504,361.28. This trade represents a 10.17% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 41,021 shares of company stock valued at $7,195,257. 0.40% of the stock is currently owned by company insiders.

Institutional Trading of Phillips 66

A number of large investors have recently bought and sold shares of the company. MUFG Securities EMEA plc boosted its stake in Phillips 66 by 113.5% in the fourth quarter. MUFG Securities EMEA plc now owns 16,518 shares of the oil and gas company’s stock worth $2,131,000 after buying an additional 8,783 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in Phillips 66 by 17.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,371,804 shares of the oil and gas company’s stock valued at $177,018,000 after acquiring an additional 199,646 shares during the last quarter. Truist Financial Corp raised its stake in shares of Phillips 66 by 1.6% during the fourth quarter. Truist Financial Corp now owns 675,084 shares of the oil and gas company’s stock worth $87,113,000 after acquiring an additional 10,585 shares in the last quarter. Horizon Investments LLC raised its stake in shares of Phillips 66 by 478.4% during the fourth quarter. Horizon Investments LLC now owns 63,290 shares of the oil and gas company’s stock worth $8,167,000 after acquiring an additional 52,348 shares in the last quarter. Finally, Royal Fund Management LLC lifted its holdings in shares of Phillips 66 by 20.6% in the 4th quarter. Royal Fund Management LLC now owns 53,901 shares of the oil and gas company’s stock worth $6,958,000 after acquiring an additional 9,214 shares during the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

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.