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

Tudor Pickering downgraded shares of Phillips 66 (NYSE:PSX - Free Report) from a strong-buy rating to a hold rating in a report released on Thursday morning,Zacks.com reports.

Other research analysts have also recently issued research reports about the company. Barclays raised their price target on Phillips 66 from $106.00 to $115.00 and gave the stock an "equal weight" rating in a research report on Monday, May 12th. Morgan Stanley reduced their price objective on shares of Phillips 66 from $140.00 to $122.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. Wall Street Zen upgraded shares of Phillips 66 from a "sell" rating to a "hold" rating in a research report on Monday, April 28th. UBS Group cut their price target on shares of Phillips 66 from $144.00 to $140.00 and set a "buy" rating for the company in a report on Monday, April 28th. Finally, The Goldman Sachs Group cut shares of Phillips 66 from a "buy" rating to a "neutral" rating and set a $132.00 price objective on the stock. in a research note on Thursday, March 27th. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $137.86.

Phillips 66 Stock Performance

Shares of PSX traded up $1.15 during mid-day trading on Thursday, hitting $114.28. 2,832,653 shares of the company's stock were exchanged, compared to its average volume of 3,002,684. 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 52 week low of $91.01 and a 52 week high of $150.12. The stock's 50-day simple moving average is $110.28 and its 200-day simple moving average is $118.86. The firm has a market cap of $46.56 billion, a price-to-earnings ratio of 23.13, a price-to-earnings-growth ratio of 4.84 and a beta of 1.01.

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

Phillips 66 Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be paid a $1.20 dividend. The ex-dividend date of this dividend is Monday, May 19th. This represents a $4.80 annualized dividend and a dividend yield of 4.20%. This is a positive change from Phillips 66's previous quarterly dividend of $1.15. Phillips 66's payout ratio is currently 109.34%.

Insider Buying and Selling

In related news, Director Robert W. Pease acquired 439 shares of the business's stock in a transaction dated Thursday, May 22nd. The shares were bought at an average price of $113.85 per share, with a total value of $49,980.15. Following the transaction, the director now directly owns 4,091 shares of the company's stock, valued at $465,760.35. This trade represents a 12.02% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.22% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Advisors Capital Management LLC raised its stake in shares of Phillips 66 by 6.7% in the first quarter. Advisors Capital Management LLC now owns 63,433 shares of the oil and gas company's stock worth $7,833,000 after purchasing an additional 4,002 shares during the last quarter. McAdam LLC bought a new stake in shares of Phillips 66 in the first quarter valued at $212,000. Geneos Wealth Management Inc. boosted its position in Phillips 66 by 5.3% during the first quarter. Geneos Wealth Management Inc. now owns 4,609 shares of the oil and gas company's stock worth $569,000 after purchasing an additional 234 shares during the period. IFM Investors Pty Ltd grew its stake in Phillips 66 by 7.6% in the 1st quarter. IFM Investors Pty Ltd now owns 67,621 shares of the oil and gas company's stock valued at $8,350,000 after buying an additional 4,766 shares in the last quarter. Finally, Blue Rock Wealth Management LLC purchased a new position in shares of Phillips 66 in the first quarter valued at $207,000. Institutional investors own 76.93% of the company's stock.

Phillips 66 Company Profile

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.