Phillips 66 (NYSE:PSX) had its price target cut by Goldman Sachs from $79.00 to $78.00 in a research report report published on Monday, Marketbeat.com reports. They currently have a sell rating on the stock.

In related news, VP Lawrence Michael Ziemba sold 74,467 shares of the firm’s stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $93.38, for a total value of $6,953,728.46. Following the sale, the vice president now directly owns 21,902 shares of the company’s stock, valued at $2,045,208.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Berkshire Hathaway Inc bought 2,541,346 shares of the firm’s stock in a transaction that occurred on Friday, January 29th. The stock was bought at an average cost of $77.94 per share, for a total transaction of $198,072,507.24. The disclosure for this purchase can be found here.

Several large investors recently added to or reduced their stakes in PSX. Amarillo National Bank bought a new stake in Phillips 66 during the fourth quarter valued at about $203,000. Chartist Inc. CA bought a new stake in Phillips 66 during the fourth quarter valued at about $266,000. Vicus Capital bought a new stake in Phillips 66 during the fourth quarter valued at about $303,000. HighPoint Advisor Group LLC bought a new stake in Phillips 66 during the fourth quarter valued at about $313,000. Finally, Financial Advisory Service Inc. boosted its stake in Phillips 66 by 11.5% in the fourth quarter. Financial Advisory Service Inc. now owns 3,919 shares of the company’s stock valued at $321,000 after buying an additional 404 shares in the last quarter.

Several other research firms have also recently commented on PSX. Citigroup Inc. assumed coverage on shares of Phillips 66 in a research note on Thursday, November 26th. They issued a buy rating and a $40.00 target price for the company. Vetr cut shares of Phillips 66 from a buy rating to a sell rating and set a $86.62 target price for the company. in a research note on Monday, November 30th. Zacks Investment Research cut shares of Phillips 66 from a buy rating to a hold rating in a research note on Wednesday, November 4th. Deutsche Bank raised their target price on shares of Phillips 66 from $100.00 to $102.00 and gave the stock a hold rating in a research note on Tuesday, November 10th. Finally, JPMorgan Chase & Co. restated a neutral rating and issued a $91.00 target price (up previously from $88.00) on shares of Phillips 66 in a research note on Monday, November 2nd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the stock. Phillips 66 currently has an average rating of Buy and an average price target of $86.71.

Phillips 66 (NYSE:PSX) opened at 79.48 on Monday. Phillips 66 has a 12-month low of $69.79 and a 12-month high of $94.12. The firm has a market capitalization of $42.40 billion and a price-to-earnings ratio of 9.28. The firm has a 50-day moving average of $79.65 and a 200 day moving average of $82.27.

Phillips 66 (NYSE:PSX) last released its earnings results on Friday, January 29th. The company reported $1.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.25 by $0.06. On average, equities analysts predict that Phillips 66 will post $6.86 EPS for the current year.

Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining and marketing and specialties businesses. The Company operates its business through four segments: midstream, chemicals, refining and marketing and specialties. It gathers, processes, transports and markets natural gas, and transports, fractionates and markets natural gas liquids (NYSE:PSX) in the United States. The Chemical segment manufactures and markets petrochemicals and plastics. The Chemicals segment consists of its 50% equity investment in Chevron Phillips Chemical Company LLC (CPChem). The refining segment buys, sells and refines crude oil and other feedstocks into petroleum products (such as gasolines, distillates and aviation fuels) at 14 refineries, mainly in the United States and Europe. The Marketing and Specialties segment purchases for resale and markets refined petroleum products (such as gasolines, distillates and aviation fuels), mainly in the United States and Europe.

12 Month Chart for NYSE:PSX

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