Phillips 66 (NYSE:PSX) Cut to Sell at StockNews.com

Phillips 66 (NYSE:PSX - Get Free Report) was downgraded by StockNews.com from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Sunday.

A number of other analysts have also commented on PSX. Wolfe Research upgraded shares of Phillips 66 from a "peer perform" rating to an "outperform" rating and set a $143.00 price target for the company in a research note on Friday, January 3rd. Wells Fargo & Company boosted their target price on shares of Phillips 66 from $161.00 to $162.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. UBS Group dropped their price target on Phillips 66 from $150.00 to $138.00 and set a "buy" rating on the stock in a research note on Monday, November 4th. Mizuho reduced their price objective on Phillips 66 from $150.00 to $147.00 and set a "neutral" rating for the company in a research report on Monday, December 16th. Finally, Piper Sandler cut Phillips 66 from a "strong-buy" rating to a "hold" rating in a research report on Friday, January 10th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat, Phillips 66 has an average rating of "Moderate Buy" and a consensus target price of $148.00.

Phillips 66 Stock Down 2.0 %

NYSE:PSX traded down $2.57 on Friday, reaching $127.12. 1,281,296 shares of the stock traded hands, compared to its average volume of 3,591,393. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $51.83 billion, a price-to-earnings ratio of 25.83, a PEG ratio of 4.84 and a beta of 1.37. Phillips 66 has a 12 month low of $108.90 and a 12 month high of $174.08. The company's fifty day simple moving average is $120.60 and its 200 day simple moving average is $126.72.

Phillips 66 (NYSE:PSX - Get Free Report) last announced its quarterly earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of $1.23 by ($1.38). Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same quarter in the prior year, the company posted $3.09 EPS. Equities analysts predict that Phillips 66 will post 6.8 EPS for the current fiscal year.

Hedge Funds Weigh In On Phillips 66

A number of hedge funds have recently modified their holdings of PSX. Menard Financial Group LLC bought a new position in Phillips 66 in the 4th quarter worth $37,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Phillips 66 in the fourth quarter valued at about $32,791,000. Heck Capital Advisors LLC bought a new position in shares of Phillips 66 in the fourth quarter worth about $748,000. Polar Asset Management Partners Inc. purchased a new stake in shares of Phillips 66 during the fourth quarter worth about $22,444,000. Finally, Garde Capital Inc. raised its stake in Phillips 66 by 52.2% during the 4th quarter. Garde Capital Inc. now owns 1,303 shares of the oil and gas company's stock valued at $148,000 after purchasing an additional 447 shares during the period. 76.93% of the stock is currently owned by institutional investors.

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.