Phillips 66 (NYSE:PSX) Was Given “Underweight” Rating by Analysts at Barclays. Lost Its “Equal Weight” Rating. The Target Price is Still $100.0

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Barclays Capital Analyst Rating Change Phillips 66 NYSE:PSX

Phillips 66 (NYSE:PSX) Change of Rating

Barclays lowered the shares of Phillips 66 (NYSE:PSX) from a “Equal Weight” rating to “Underweight” rating in a report revealed to clients and investors on Tuesday, 14 November. The company after the upgrade has $100.0 target price on company.

The stock rating downgrade was most probably noticed by investors, as NYSE:PSX is currently trading -0.30% lower at $93.04 as of 4:03 AM New York time. Phillips 66 shares have [From2] 0% over the past 200 days, while the Standard & Poor’s 500 index has increased 6.00% over the same time period.

According to data compiled by Thomson Reuters, Phillips 66 (NYSE:PSX)’s stock is covered by 13 equity analysts across the Street, with 1 analysts giving it a Sell rating, 9 a Buy rating, while 7 consider it a Hold. The 12-month consensus target price for the stock is $90.85, which reflects an downside potential of 2.35% over the current price.

Institutional Ownership

Rr Partners Lp had the biggest stake with ownership of 2.33M shares as of q2 2015 for 9.1% of the portfolio. Torchmark Corp is another quite bullish investment professional who is possessing 84,000 shares of Phillips 66 or 5.57% of their portfolio. Also, Berkshire Hathaway Inc have 5.05% of their portfolio invested in the company for 80.69M shares. The New York-based fund Norman Fields Gottscho Capital Management Llc disclosed it had acquired so far a stake worth about 4.4% of the investment professional’s stock portfolio in Phillips 66. The Nebraska-based fund Lincoln Capital Llc is also positive about the stock, possessing 82,649 shares or 4.13% of their portfolio.

Phillips 66 (NYSE:PSX) Profile

Phillips 66Phillips 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.

Phillips 66 (NYSE:PSX) traded down -0.30% on 14 November, hitting $93.04. A total of 787,071 shares of the company’s stock traded hands. This is down from average of 1.86 million shares. Phillips 66 has a 52 week low of $75.14 and a 52 week high of $95. The company has a market cap of $47.15 billion and a P/E ratio of 23.42.

Get the latest Phillips 66 (NYSE:PSX) Stock Ratings at Octafinance. Completely free access to our Analyst Ratings Database for 6000+ stocks.

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