Phillips 66 (PSX) Downgraded by ValuEngine

ValuEngine downgraded shares of Phillips 66 (NYSE:PSX) from a buy rating to a hold rating in a report issued on Monday morning.

Other equities research analysts also recently issued research reports about the stock. Barclays restated a sell rating and issued a $111.00 target price on shares of Phillips 66 in a research note on Wednesday, January 10th. Scotiabank restated a buy rating and issued a $112.00 target price on shares of Phillips 66 in a research note on Wednesday, January 10th. Royal Bank of Canada restated a hold rating and issued a $106.00 target price on shares of Phillips 66 in a research note on Tuesday, January 30th. Citigroup boosted their target price on shares of Phillips 66 from $90.00 to $110.00 and gave the company a neutral rating in a research note on Wednesday, January 24th. Finally, Piper Jaffray restated a buy rating and issued a $115.00 target price on shares of Phillips 66 in a research note on Monday, January 22nd. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Phillips 66 currently has a consensus rating of Hold and an average target price of $103.37.

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Shares of NYSE:PSX traded down $0.67 on Monday, hitting $97.10. The stock had a trading volume of 429,443 shares, compared to its average volume of 2,171,746. Phillips 66 has a twelve month low of $75.14 and a twelve month high of $107.47. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.09 and a current ratio of 1.42. The company has a market capitalization of $44,779.34, a PE ratio of 22.15, a P/E/G ratio of 1.67 and a beta of 1.07.

Phillips 66 (NYSE:PSX) last issued its earnings results on Friday, February 2nd. The oil and gas company reported $1.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.21. Phillips 66 had a net margin of 4.88% and a return on equity of 9.18%. The company had revenue of $30.12 billion for the quarter, compared to the consensus estimate of $30.71 billion. During the same quarter in the previous year, the company earned $0.16 EPS. analysts forecast that Phillips 66 will post 6.76 EPS for the current year.

A number of large investors have recently made changes to their positions in the business. Colonial Trust Advisors increased its stake in shares of Phillips 66 by 11.7% in the 4th quarter. Colonial Trust Advisors now owns 6,571 shares of the oil and gas company’s stock valued at $665,000 after acquiring an additional 687 shares during the last quarter. Dixon Hubard Feinour & Brown Inc. VA bought a new stake in shares of Phillips 66 in the 4th quarter valued at about $7,224,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of Phillips 66 by 26.5% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 313,966 shares of the oil and gas company’s stock valued at $31,758,000 after acquiring an additional 65,727 shares during the last quarter. Intercontinental Wealth Advisors LLC bought a new stake in shares of Phillips 66 in the 4th quarter valued at about $223,000. Finally, Pin Oak Investment Advisors Inc. bought a new stake in shares of Phillips 66 in the 4th quarter valued at about $119,000. 77.74% of the stock is owned by hedge funds and other institutional investors.

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About Phillips 66

Phillips 66 operates as an energy manufacturing and logistics company. 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 products to market, and provides terminaling and storage services for crude oil and petroleum products; transports, stores, fractionates, and markets natural gas liquids, exports LPG, and provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Phillips 66 (NYSE:PSX)

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