The Goldman Sachs Group Downgrades Phillips 66 (NYSE:PSX) to Neutral

Phillips 66 (NYSE:PSX) was downgraded by analysts at The Goldman Sachs Group from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports. They currently have a $132.00 price objective on the oil and gas company’s stock. The Goldman Sachs Group’s price objective suggests a potential upside of 8.49% from the stock’s previous close.

Several other analysts have also recently commented on the stock. 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. Piper Sandler downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Wells Fargo & Company lifted their target price on Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Mizuho cut their price target on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a research note on Monday, December 16th. Finally, StockNews.com lowered Phillips 66 from a “hold” rating to a “sell” rating in a research report on Sunday, March 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $146.43.

Phillips 66 Trading Down 2.4 %

PSX stock opened at $121.67 on Thursday. The business has a fifty day moving average price of $124.76 and a 200 day moving average price of $125.52. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. Phillips 66 has a fifty-two week low of $108.91 and a fifty-two week high of $174.08. The stock has a market capitalization of $49.60 billion, a price-to-earnings ratio of 24.63, a P/E/G ratio of 4.84 and a beta of 1.31.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share (EPS) 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 period in the prior year, the firm earned $3.09 earnings per share. Analysts expect that Phillips 66 will post 6.8 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PSX. Oppenheimer & Co. Inc. lifted its holdings in shares of Phillips 66 by 10.6% during the 4th quarter. Oppenheimer & Co. Inc. now owns 46,953 shares of the oil and gas company’s stock valued at $5,349,000 after purchasing an additional 4,515 shares in the last quarter. Flavin Financial Services Inc. acquired a new position in shares of Phillips 66 in the fourth quarter valued at approximately $1,190,000. Everence Capital Management Inc. acquired a new position in shares of Phillips 66 in the fourth quarter valued at approximately $3,033,000. Donoghue Forlines LLC acquired a new stake in shares of Phillips 66 during the fourth quarter worth $1,438,000. Finally, Smith Group Asset Management LLC bought a new stake in Phillips 66 in the 4th quarter valued at $1,149,000. 76.93% of the stock is owned by institutional investors and hedge funds.

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.