Shares of Phillips 66 (NYSE:PSX) saw unusually-strong trading volume on Thursday . Approximately 2,496,967 shares changed hands during trading, a decline of 21% from the previous session’s volume of 3,156,322 shares.The stock last traded at $75.49 and had previously closed at $76.37.

A number of equities analysts have recently issued reports on PSX shares. Vetr raised Phillips 66 from a “buy” rating to a “strong-buy” rating and set a $87.26 price target on the stock in a research report on Wednesday. Morgan Stanley downgraded Phillips 66 from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $105.00 to $90.00 in a research report on Friday, June 17th. Wells Fargo & Co. downgraded Phillips 66 from an “outperform” rating to a “market perform” rating in a research report on Friday. Citigroup Inc. downgraded Phillips 66 from a “buy” rating to a “neutral” rating and set a $88.00 price target on the stock. in a research report on Wednesday, April 20th. Finally, Raymond James Financial Inc. increased their price target on Phillips 66 from $86.00 to $92.00 in a research report on Tuesday, March 15th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $87.09.

The stock has a market capitalization of $39.34 billion and a PE ratio of 11.20. The stock has a 50-day moving average of $79.24 and a 200 day moving average of $81.37.

Phillips 66 (NYSE:PSX) last released its earnings results on Friday, April 29th. The company reported $0.67 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.87 by $0.20. During the same period in the previous year, the business earned $1.51 earnings per share. On average, equities analysts anticipate that Phillips 66 will post $4.84 EPS for the current year.

In related news, President Timothy Garth Taylor sold 50,000 shares of the business’s stock in a transaction on Tuesday, June 28th. The stock was sold at an average price of $78.00, for a total transaction of $3,900,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Berkshire Hathaway Inc bought 469,604 shares of the stock in a transaction that occurred on Tuesday, June 7th. The shares were bought at an average cost of $80.18 per share, with a total value of $37,652,848.72. The disclosure for this purchase can be found here.

Several hedge funds and institutional investors have added to or reduced their stakes in PSX. Baxter Bros Inc. boosted its position in Phillips 66 by 0.6% in the fourth quarter. Baxter Bros Inc. now owns 13,215 shares of the company’s stock valued at $1,081,000 after buying an additional 79 shares in the last quarter. Adirondack Trust Co. boosted its position in Phillips 66 by 0.7% in the fourth quarter. Adirondack Trust Co. now owns 12,565 shares of the company’s stock valued at $1,007,000 after buying an additional 91 shares in the last quarter. Strategic Global Advisors LLC boosted its position in Phillips 66 by 0.3% in the fourth quarter. Strategic Global Advisors LLC now owns 32,193 shares of the company’s stock valued at $2,633,000 after buying an additional 99 shares in the last quarter. Montgomery Investment Management Inc. boosted its position in Phillips 66 by 0.3% in the fourth quarter. Montgomery Investment Management Inc. now owns 70,790 shares of the company’s stock valued at $5,790,000 after buying an additional 178 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its position in Phillips 66 by 0.4% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 54,834 shares of the company’s stock valued at $4,485,000 after buying an additional 199 shares in the last quarter.

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 (M&S). The Midstream segment includes its equity investment in DCP Midstream , LLC (DCP Midstream) and its investment in Phillips 66 Partners LP.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.