Tudor Pickering Downgrades Phillips 66 (NYSE:PSX) to Hold

Phillips 66 (NYSE:PSX) was downgraded by equities research analysts at Tudor Pickering from a “strong-buy” rating to a “hold” rating in a report released on Thursday,Zacks.com reports.

A number of other brokerages have also recently issued reports on PSX. Raymond James dropped their price target on Phillips 66 from $150.00 to $140.00 and set an “outperform” rating for the company in a report on Wednesday, April 9th. Barclays raised their price target on Phillips 66 from $106.00 to $115.00 and gave the company an “equal weight” rating in a report on Monday, May 12th. Morgan Stanley dropped their price target on Phillips 66 from $140.00 to $122.00 and set an “equal weight” rating for the company in a report on Thursday, April 24th. TD Cowen raised their price target on Phillips 66 from $114.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, May 13th. Finally, Mizuho lifted their target price on Phillips 66 from $132.00 to $138.00 and gave the company a “neutral” rating in a research note on Tuesday, May 13th. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $137.86.

Phillips 66 Price Performance

Shares of PSX stock opened at $113.13 on Thursday. The stock has a 50 day moving average of $110.60 and a two-hundred day moving average of $119.07. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $150.12. The company has a market capitalization of $46.09 billion, a P/E ratio of 22.90, a P/E/G ratio of 4.84 and a beta of 1.01.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Friday, April 25th. The oil and gas company reported ($0.90) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.97). Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. The firm had revenue of $31.92 billion during the quarter, compared to the consensus estimate of $31.93 billion. During the same quarter in the prior year, the business posted $1.90 EPS. As a group, equities analysts expect that Phillips 66 will post 6.8 EPS for the current year.

Institutional Investors Weigh In On Phillips 66

Institutional investors have recently made changes to their positions in the company. Bogart Wealth LLC boosted its stake in shares of Phillips 66 by 120.0% in the fourth quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 120 shares during the period. J.Safra Asset Management Corp bought a new stake in shares of Phillips 66 in the fourth quarter valued at approximately $25,000. Pacific Center for Financial Services bought a new stake in shares of Phillips 66 in the fourth quarter valued at approximately $27,000. von Borstel & Associates Inc. bought a new stake in Phillips 66 during the first quarter worth $27,000. Finally, Stephens Consulting LLC lifted its stake in Phillips 66 by 83.5% during the fourth quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 111 shares during the last quarter. 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.