Phillips 66 (NYSE:PSX) Downgraded to Strong Sell at ValuEngine

Phillips 66 (NYSE:PSX) was downgraded by ValuEngine from a “sell” rating to a “strong sell” rating in a research note issued on Tuesday, ValuEngine reports.

A number of other research analysts have also recently weighed in on PSX. Wells Fargo & Co boosted their price target on Phillips 66 from $130.00 to $132.00 and gave the company an “outperform” rating in a research report on Wednesday, September 25th. Evercore ISI assumed coverage on Phillips 66 in a research note on Wednesday, October 2nd. They set an “outperform” rating for the company. JPMorgan Chase & Co. cut their price objective on Phillips 66 from $126.00 to $115.00 and set an “overweight” rating on the stock in a report on Tuesday, September 10th. Scotiabank began coverage on Phillips 66 in a research note on Tuesday, September 3rd. They issued an “outperform” rating on the stock. Finally, Raymond James lifted their price objective on Phillips 66 from $117.00 to $120.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $119.80.

Shares of PSX traded down $1.58 during mid-day trading on Tuesday, reaching $112.75. The company had a trading volume of 4,596,195 shares, compared to its average volume of 2,617,612. Phillips 66 has a fifty-two week low of $78.44 and a fifty-two week high of $119.92. The firm has a fifty day simple moving average of $115.03 and a 200-day simple moving average of $100.81. The stock has a market cap of $50.11 billion, a price-to-earnings ratio of 9.63, a price-to-earnings-growth ratio of 2.01 and a beta of 1.11. The company has a current ratio of 1.29, a quick ratio of 0.84 and a debt-to-equity ratio of 0.41.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Friday, October 25th. The oil and gas company reported $3.11 EPS for the quarter, topping analysts’ consensus estimates of $2.60 by $0.51. The business had revenue of $27.77 billion during the quarter, compared to the consensus estimate of $28.31 billion. Phillips 66 had a return on equity of 19.31% and a net margin of 4.17%. During the same period in the prior year, the firm posted $3.10 EPS. As a group, equities analysts predict that Phillips 66 will post 8.79 EPS for the current fiscal year.

In other Phillips 66 news, EVP Robert A. Herman sold 47,433 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $103.17, for a total value of $4,893,662.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Chukwuemeka A. Oyolu sold 464 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $119.53, for a total value of $55,461.92. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by corporate insiders.

Large investors have recently modified their holdings of the business. Advisors Preferred LLC purchased a new stake in Phillips 66 during the 2nd quarter worth $25,000. TRUE Private Wealth Advisors purchased a new stake in shares of Phillips 66 during the second quarter worth about $26,000. Atwater Malick LLC purchased a new stake in shares of Phillips 66 during the third quarter worth about $27,000. Coastal Capital Group Inc. purchased a new stake in shares of Phillips 66 during the second quarter worth about $37,000. Finally, Heritage Wealth Advisors lifted its stake in shares of Phillips 66 by 68.5% in the second quarter. Heritage Wealth Advisors now owns 401 shares of the oil and gas company’s stock worth $38,000 after acquiring an additional 163 shares in the last quarter. 68.42% of the stock is owned by institutional investors.

Phillips 66 Company Profile

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; provides terminaling and storage services for crude oil and 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.

See Also: Why does the United States have a lingering trade deficit?

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

Analyst Recommendations for Phillips 66 (NYSE:PSX)

Receive News & Ratings for Phillips 66 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Phillips 66 and related companies with MarketBeat.com's FREE daily email newsletter.