Phillips 66 (NYSE:PSX) Rating Lowered to “Neutral” at The Goldman Sachs Group

Phillips 66 (NYSE:PSX) was downgraded by stock analysts at The Goldman Sachs Group from a “buy” rating to a “neutral” rating in a report issued on Thursday,Briefing.com Automated Import reports. They presently have a $132.00 target price on the oil and gas company’s stock. The Goldman Sachs Group’s price objective indicates a potential upside of 4.32% from the company’s current price.

Several other analysts have also recently commented on PSX. Wolfe Research raised shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target on the stock in a research note on Friday, January 3rd. Barclays increased their price target on Phillips 66 from $115.00 to $135.00 and gave the company an “equal weight” rating in a research note on Friday, March 14th. Mizuho reduced their target price on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Wells Fargo & Company upped 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. Finally, Piper Sandler cut shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Phillips 66 currently has an average rating of “Moderate Buy” and a consensus price target of $146.43.

Phillips 66 Trading Up 0.8 %

Shares of Phillips 66 stock opened at $126.54 on Thursday. Phillips 66 has a 52-week low of $108.91 and a 52-week high of $174.08. The firm has a market capitalization of $51.59 billion, a PE ratio of 25.61, a price-to-earnings-growth ratio of 4.84 and a beta of 1.31. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The company’s fifty day moving average price is $124.64 and its two-hundred day moving average price is $125.57.

Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates 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 firm posted $3.09 earnings per share. On average, analysts expect that Phillips 66 will post 6.8 EPS for the current year.

Institutional Investors Weigh In On Phillips 66

A number of hedge funds and other institutional investors have recently bought and sold shares of PSX. Oppenheimer & Co. Inc. grew its stake in shares of Phillips 66 by 10.6% in the fourth quarter. Oppenheimer & Co. Inc. now owns 46,953 shares of the oil and gas company’s stock worth $5,349,000 after acquiring an additional 4,515 shares during the period. Flavin Financial Services Inc. purchased a new stake in Phillips 66 in the fourth quarter worth about $1,190,000. Everence Capital Management Inc. bought a new position in shares of Phillips 66 in the fourth quarter worth about $3,033,000. Donoghue Forlines LLC purchased a new position in shares of Phillips 66 during the 4th quarter valued at $1,438,000. Finally, Smith Group Asset Management LLC bought a new stake in Phillips 66 during the 4th quarter valued at approximately $1,149,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

About Phillips 66

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.