Phillips 66 (NYSE:PSX) Upgraded by StockNews.com to "Hold" Rating

Phillips 66 (NYSE:PSX - Get Free Report) was upgraded by analysts at StockNews.com from a "sell" rating to a "hold" rating in a research note issued to investors on Monday.

A number of other equities analysts have also recently commented on PSX. Raymond James dropped their price objective on shares of Phillips 66 from $150.00 to $140.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Scotiabank dropped their price objective on shares of Phillips 66 from $136.00 to $133.00 and set a "sector outperform" rating for the company in a research note on Friday, April 11th. TD Cowen dropped their price objective on shares of Phillips 66 from $127.00 to $114.00 and set a "buy" rating for the company in a research note on Monday. UBS Group dropped their price objective on shares of Phillips 66 from $144.00 to $140.00 and set a "buy" rating for the company in a research note on Monday. Finally, Wolfe Research upgraded shares of Phillips 66 from a "peer perform" rating to an "outperform" rating and set a $143.00 target price for the company in a report on Friday, January 3rd. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Phillips 66 has a consensus rating of "Moderate Buy" and a consensus price target of $137.07.

Phillips 66 Price Performance

PSX traded up $1.83 during trading on Monday, hitting $105.80. 2,295,487 shares of the company traded hands, compared to its average volume of 2,898,319. The company has a market cap of $43.11 billion, a PE ratio of 21.42, a P/E/G ratio of 4.84 and a beta of 1.17. The stock's 50-day simple moving average is $115.31 and its two-hundred day simple moving average is $120.83. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $152.19. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its earnings results on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.97). Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. The company had revenue of $31.92 billion for the quarter, compared to analysts' expectations of $31.93 billion. During the same period in the previous year, the business posted $1.90 earnings per share. As a group, sell-side analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Phillips 66

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp lifted its holdings in Phillips 66 by 7.3% during the 4th 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 in the last quarter. Geode Capital Management LLC lifted its holdings in Phillips 66 by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 8,530,242 shares of the oil and gas company's stock valued at $968,844,000 after buying an additional 82,758 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Phillips 66 by 283.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,026,649 shares of the oil and gas company's stock valued at $686,618,000 after purchasing an additional 4,455,220 shares in the last quarter. Northern Trust Corp lifted its position in shares of Phillips 66 by 10.6% in the 4th quarter. Northern Trust Corp now owns 4,589,079 shares of the oil and gas company's stock worth $522,834,000 after purchasing an additional 440,107 shares during the period. Finally, Norges Bank bought a new position in shares of Phillips 66 during the fourth quarter valued at approximately $497,648,000. 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.

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