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

The Goldman Sachs Group cut shares of Phillips 66 (NYSE:PSX) from a buy rating to a neutral rating in a report issued on Thursday, Marketbeat.com reports. They currently have $132.00 price target on the oil and gas company’s stock.

Other analysts have also issued research reports about the stock. Barclays increased their price target on shares of Phillips 66 from $115.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Friday, March 14th. Wolfe Research upgraded 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. StockNews.com downgraded Phillips 66 from a “hold” rating to a “sell” rating in a research report on Sunday, March 2nd. Wells Fargo & Company raised their price objective on Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Finally, Mizuho lowered their target price on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued 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 Price Performance

Shares of NYSE PSX opened at $121.67 on Thursday. The business has a fifty day moving average price of $124.76 and a two-hundred day moving average price of $125.51. The stock has a market capitalization of $49.60 billion, a PE ratio of 24.63, a P/E/G 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 has a fifty-two week low of $108.91 and a fifty-two week high of $174.08.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Friday, January 31st. The oil and gas company reported ($0.15) 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 last year, the company posted $3.09 earnings per share. As a group, equities analysts predict that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 3.78%. The ex-dividend date of this dividend was Monday, February 24th. Phillips 66’s payout ratio is presently 93.12%.

Hedge Funds Weigh In On Phillips 66

A number of hedge funds have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD increased its position in Phillips 66 by 283.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,026,649 shares of the oil and gas company’s stock valued at $686,618,000 after purchasing an additional 4,455,220 shares during the period. Norges Bank acquired a new stake in shares of Phillips 66 during the fourth quarter worth $497,648,000. Raymond James Financial Inc. bought a new position in Phillips 66 during the fourth quarter worth $168,790,000. Capitolis Liquid Global Markets LLC acquired a new position in Phillips 66 in the fourth quarter valued at $142,185,000. Finally, Jacobs Levy Equity Management Inc. boosted its position in Phillips 66 by 157.6% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,541,240 shares of the oil and gas company’s stock valued at $175,593,000 after acquiring an additional 942,922 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors.

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.