Phillips 66 (NYSE:PSX) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a report released on Friday.

Several other research analysts have also recently issued reports on the stock. Barclays PLC reiterated an “equal weight” rating and issued a $89.00 price objective (up from $87.00) on shares of Phillips 66 in a report on Wednesday, August 2nd. Scotiabank set a $86.00 price objective on shares of Phillips 66 and gave the company a “hold” rating in a report on Tuesday, August 1st. Piper Jaffray Companies reiterated a “buy” rating and issued a $84.00 price objective on shares of Phillips 66 in a report on Friday, July 14th. Zacks Investment Research cut shares of Phillips 66 from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Finally, TheStreet upgraded shares of Phillips 66 from a “c” rating to a “b-” rating in a report on Friday, June 30th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $83.53.

Phillips 66 (NYSE PSX) traded up 0.83% during midday trading on Friday, hitting $81.56. 2,288,852 shares of the stock were exchanged. The stock has a market cap of $41.72 billion, a price-to-earnings ratio of 24.39 and a beta of 1.22. The firm’s 50-day moving average is $83.33 and its 200 day moving average is $79.81. Phillips 66 has a 52 week low of $75.14 and a 52 week high of $88.87.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Tuesday, August 1st. The oil and gas company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.07. The business had revenue of $24.58 billion during the quarter, compared to analysts’ expectations of $25.14 billion. Phillips 66 had a net margin of 1.87% and a return on equity of 6.29%. During the same period last year, the firm posted $0.94 earnings per share. Equities research analysts expect that Phillips 66 will post $4.02 EPS for the current fiscal year.

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Large investors have recently added to or reduced their stakes in the company. Hartford Investment Management Co. increased its stake in Phillips 66 by 2.1% in the first quarter. Hartford Investment Management Co. now owns 111,315 shares of the oil and gas company’s stock worth $8,818,000 after buying an additional 2,244 shares during the last quarter. Alta Capital Management LLC increased its stake in Phillips 66 by 1.9% in the first quarter. Alta Capital Management LLC now owns 524,763 shares of the oil and gas company’s stock worth $41,571,000 after buying an additional 9,946 shares during the last quarter. Quantitative Systematic Strategies LLC increased its stake in Phillips 66 by 40.2% in the first quarter. Quantitative Systematic Strategies LLC now owns 8,264 shares of the oil and gas company’s stock worth $655,000 after buying an additional 2,368 shares during the last quarter. Everence Capital Management Inc. increased its stake in Phillips 66 by 355.8% in the first quarter. Everence Capital Management Inc. now owns 11,440 shares of the oil and gas company’s stock worth $906,000 after buying an additional 8,930 shares during the last quarter. Finally, Greylin Investment Mangement Inc. bought a new stake in Phillips 66 during the first quarter worth about $5,367,000. Institutional investors own 69.57% of the company’s stock.

Phillips 66 Company Profile

Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining, and marketing and specialties businesses. The Company operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment gathers, processes, transports and markets natural gas, and transports, stores, fractionates and markets natural gas liquids (NGLs) in the United States.

Analyst Recommendations for Phillips 66 (NYSE:PSX)

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