Phillips 66 (NYSE:PSX) Raised to "Hold" at Wall Street Zen

Key Points

• Analysts at Wall Street Zen upgraded Phillips 66 from a "sell" rating to a "hold" rating, indicating a more favorable outlook for the company.
• The company reported earnings of $2.38 EPS for the last quarter, exceeding analyst expectations of $1.79 and achieving revenue of $33.77 billion, surpassing estimates.
• Phillips 66 currently holds a consensus rating of "Hold" with an average price target of $135.20, as rated by ten firms.

Phillips 66 (NYSE:PSX - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report issued on Saturday.

A number of other equities analysts have also commented on PSX. JPMorgan Chase & Co. set a $115.00 price target on shares of Phillips 66 in a research report on Wednesday, June 18th. Scotiabank reiterated a "sector perform" rating and set a $133.00 price objective on shares of Phillips 66 in a research note on Friday, July 11th. Wells Fargo & Company reduced their price objective on shares of Phillips 66 from $149.00 to $147.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 11th. Raymond James Financial set a $142.00 price objective on shares of Phillips 66 and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. Finally, Cantor Fitzgerald initiated coverage on shares of Phillips 66 in a research note on Wednesday, June 18th. They set a "neutral" rating on the stock. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Phillips 66 has a consensus rating of "Hold" and an average target price of $136.13.

Phillips 66 Stock Performance

NYSE:PSX traded up $0.73 during mid-day trading on Friday, reaching $128.42. 2,395,703 shares of the company's stock were exchanged, compared to its average volume of 2,486,292. Phillips 66 has a one year low of $91.01 and a one year high of $150.12. The firm has a market capitalization of $52.32 billion, a PE ratio of 30.87, a price-to-earnings-growth ratio of 1.85 and a beta of 1.02. The business's fifty day simple moving average is $121.82 and its two-hundred day simple moving average is $118.79. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.88 and a current ratio of 1.23.

Phillips 66 (NYSE:PSX - Get Free Report) last released its quarterly earnings results on Friday, July 25th. The oil and gas company reported $2.38 EPS for the quarter, topping analysts' consensus estimates of $1.79 by $0.59. Phillips 66 had a net margin of 1.27% and a return on equity of 4.86%. The business had revenue of $33.77 billion for the quarter, compared to analyst estimates of $32.11 billion. During the same period last year, the firm earned $2.31 earnings per share. Analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Phillips 66 news, EVP Vanessa Allen Sutherland sold 4,393 shares of the company's stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $130.00, for a total value of $571,090.00. Following the completion of the sale, the executive vice president owned 43,373 shares of the company's stock, valued at $5,638,490. This represents a 9.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert W. Pease bought 439 shares of the business's stock in a transaction on Thursday, May 22nd. The stock was purchased at an average cost of $113.85 per share, with a total value of $49,980.15. Following the purchase, the director owned 4,091 shares of the company's stock, valued at $465,760.35. This represents a 12.02% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.22% of the stock is owned by company insiders.

Institutional Trading of Phillips 66

A number of institutional investors have recently made changes to their positions in PSX. Wolff Wiese Magana LLC raised its holdings in Phillips 66 by 62.1% in the second quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company's stock worth $26,000 after purchasing an additional 82 shares in the last quarter. Pacific Center for Financial Services bought a new position in Phillips 66 in the fourth quarter worth $27,000. von Borstel & Associates Inc. bought a new position in shares of Phillips 66 during the first quarter valued at $27,000. Olde Wealth Management LLC bought a new position in shares of Phillips 66 during the first quarter valued at $28,000. Finally, Wood Tarver Financial Group LLC bought a new position in shares of Phillips 66 during the fourth quarter valued at $29,000. Hedge funds and other 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.