Phillips 66 (NYSE:PSX) Lowered to Neutral Rating by The Goldman Sachs Group

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

Several other research analysts have also weighed in on PSX. Piper Sandler lowered Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Barclays increased their target price on shares of Phillips 66 from $115.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Friday, March 14th. StockNews.com downgraded shares of Phillips 66 from a “hold” rating to a “sell” rating in a research note on Sunday, March 2nd. Wolfe Research upgraded shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price for the company in a report on Friday, January 3rd. Finally, Wells Fargo & Company upped their price target on Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. One analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $146.43.

Phillips 66 Price Performance

NYSE:PSX opened at $126.54 on Thursday. The business has a 50 day simple moving average of $124.64 and a 200-day simple moving average of $125.57. Phillips 66 has a 1 year low of $108.91 and a 1 year high of $174.08. The firm has a market capitalization of $51.59 billion, a price-to-earnings ratio of 25.61, a PEG 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.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate 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 previous year, the firm earned $3.09 earnings per share. Equities analysts forecast that Phillips 66 will post 6.8 EPS for the current year.

Hedge Funds Weigh In On Phillips 66

Several hedge funds have recently bought and sold shares of PSX. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Phillips 66 by 113.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,703 shares of the oil and gas company’s stock worth $750,000 after buying an additional 3,030 shares during the last quarter. Avestar Capital LLC raised its holdings in Phillips 66 by 5.1% in the 3rd quarter. Avestar Capital LLC now owns 1,885 shares of the oil and gas company’s stock worth $248,000 after acquiring an additional 92 shares during the period. Townsquare Capital LLC lifted its position in Phillips 66 by 6.3% during the 3rd quarter. Townsquare Capital LLC now owns 24,125 shares of the oil and gas company’s stock worth $3,171,000 after acquiring an additional 1,427 shares during the last quarter. Cynosure Group LLC bought a new stake in Phillips 66 during the third quarter valued at about $201,000. Finally, CreativeOne Wealth LLC grew its position in shares of Phillips 66 by 43.9% in the third quarter. CreativeOne Wealth LLC now owns 3,697 shares of the oil and gas company’s stock valued at $486,000 after purchasing an additional 1,128 shares during the last quarter. 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.