Phillips 66 (NYSE:PSX) Downgraded by StockNews.com to “Hold”

StockNews.com downgraded shares of Phillips 66 (NYSE:PSX) from a buy rating to a hold rating in a research note issued to investors on Monday morning.

Several other research firms also recently commented on PSX. Mizuho dropped their price objective on shares of Phillips 66 from $167.00 to $162.00 and set a neutral rating on the stock in a report on Friday, April 12th. JPMorgan Chase & Co. raised their price objective on shares of Phillips 66 from $149.00 to $167.00 and gave the stock an overweight rating in a report on Monday, April 1st. Raymond James boosted their target price on shares of Phillips 66 from $140.00 to $155.00 and gave the company an outperform rating in a report on Thursday, February 1st. The Goldman Sachs Group raised their price target on Phillips 66 from $152.00 to $174.00 and gave the stock a buy rating in a report on Friday, March 22nd. Finally, Barclays decreased their price objective on Phillips 66 from $155.00 to $147.00 and set an equal weight rating on the stock in a research note on Tuesday, April 30th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $157.43.

Phillips 66 Trading Up 1.2 %

NYSE:PSX opened at $146.94 on Monday. Phillips 66 has a 12 month low of $89.74 and a 12 month high of $174.08. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.58. The firm’s 50 day moving average is $155.48 and its 200 day moving average is $138.78. The stock has a market capitalization of $62.30 billion, a PE ratio of 11.30, a price-to-earnings-growth ratio of 1.82 and a beta of 1.41.

Phillips 66 (NYSE:PSX) last issued its earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.05 by ($0.15). Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. The firm had revenue of $36.44 billion during the quarter, compared to the consensus estimate of $35.87 billion. During the same quarter in the previous year, the firm earned $4.21 earnings per share. Sell-side analysts expect that Phillips 66 will post 13.17 earnings per share for the current year.

Phillips 66 Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be given a dividend of $1.15 per share. The ex-dividend date is Friday, May 17th. This is a positive change from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 annualized dividend and a yield of 3.13%. Phillips 66’s payout ratio is presently 32.31%.

Insider Transactions at Phillips 66

In other news, EVP Richard G. Harbison sold 21,934 shares of Phillips 66 stock in a transaction on Monday, February 12th. The shares were sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the completion of the sale, the executive vice president now directly owns 24,941 shares of the company’s stock, valued at approximately $3,648,120.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Richard G. Harbison sold 21,934 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the transaction, the executive vice president now directly owns 24,941 shares in the company, valued at approximately $3,648,120.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Joseph Scott Pruitt sold 5,922 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $157.40, for a total value of $932,122.80. Following the completion of the sale, the vice president now owns 6,583 shares of the company’s stock, valued at approximately $1,036,164.20. The disclosure for this sale can be found here. Insiders have sold 35,056 shares of company stock valued at $5,272,681 in the last quarter. Insiders own 0.22% of the company’s stock.

Institutional Investors Weigh In On Phillips 66

Institutional investors have recently made changes to their positions in the business. Norges Bank bought a new position in shares of Phillips 66 during the fourth quarter valued at about $559,435,000. Boston Partners boosted its holdings in Phillips 66 by 962.0% during the 4th quarter. Boston Partners now owns 3,858,170 shares of the oil and gas company’s stock valued at $513,327,000 after acquiring an additional 3,494,878 shares during the period. Bank of New York Mellon Corp grew its position in Phillips 66 by 38.0% during the 1st quarter. Bank of New York Mellon Corp now owns 8,019,795 shares of the oil and gas company’s stock worth $1,309,954,000 after acquiring an additional 2,209,043 shares during the last quarter. International Assets Investment Management LLC bought a new position in Phillips 66 during the 4th quarter worth approximately $254,336,000. Finally, Wellington Management Group LLP increased its stake in Phillips 66 by 20.3% in the 4th quarter. Wellington Management Group LLP now owns 10,903,130 shares of the oil and gas company’s stock worth $1,451,643,000 after purchasing an additional 1,842,226 shares during the period. 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.