Oak Thistle LLC Acquires New Shares in Phillips 66 (NYSE:PSX)

Oak Thistle LLC bought a new position in shares of Phillips 66 (NYSE:PSX - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 7,036 shares of the oil and gas company's stock, valued at approximately $802,000.

Several other large investors have also recently added to or reduced their stakes in PSX. Mizuho Securities USA LLC lifted its position in shares of Phillips 66 by 7,549.0% in the 3rd quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company's stock worth $328,625,000 after buying an additional 2,467,316 shares during the last quarter. ING Groep NV lifted its holdings in shares of Phillips 66 by 123.2% in the 3rd quarter. ING Groep NV now owns 1,182,980 shares of the oil and gas company's stock worth $155,503,000 after purchasing an additional 653,032 shares during the last quarter. Bank of Montreal Can increased its position in Phillips 66 by 63.4% in the third quarter. Bank of Montreal Can now owns 1,633,876 shares of the oil and gas company's stock worth $214,120,000 after buying an additional 633,970 shares during the period. Mizuho Markets Americas LLC bought a new stake in Phillips 66 in the third quarter valued at $70,983,000. Finally, Canada Pension Plan Investment Board boosted its holdings in shares of Phillips 66 by 574.0% during the second quarter. Canada Pension Plan Investment Board now owns 443,044 shares of the oil and gas company's stock valued at $62,545,000 after acquiring an additional 377,314 shares during the period. 76.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on PSX. Piper Sandler downgraded shares of Phillips 66 from a "strong-buy" rating to a "hold" rating in a research report on Friday, January 10th. Wolfe Research raised Phillips 66 from a "peer perform" rating to an "outperform" rating and set a $143.00 price target on the stock in a report on Friday, January 3rd. Scotiabank cut their price objective on shares of Phillips 66 from $145.00 to $136.00 and set a "sector outperform" rating on the stock in a research note on Thursday, October 10th. Bank of America started coverage on shares of Phillips 66 in a research note on Thursday, October 17th. They issued a "buy" rating and a $156.00 price target for the company. Finally, Wells Fargo & Company lowered their price objective on shares of Phillips 66 from $167.00 to $161.00 and set an "overweight" rating on the stock in a research note on Monday, December 9th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Phillips 66 has an average rating of "Moderate Buy" and an average price target of $147.93.

Phillips 66 Trading Up 0.6 %

Shares of NYSE PSX traded up $0.68 during mid-day trading on Thursday, hitting $119.68. 1,934,326 shares of the company traded hands, compared to its average volume of 2,836,769. The business has a 50 day moving average of $122.73 and a two-hundred day moving average of $129.95. The stock has a market capitalization of $49.43 billion, a price-to-earnings ratio of 15.36, a PEG ratio of 3.17 and a beta of 1.38. Phillips 66 has a 1 year low of $108.90 and a 1 year high of $174.08. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX - Get Free Report) last announced its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, topping the consensus estimate of $1.63 by $0.41. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The company had revenue of $36.16 billion during the quarter, compared to analysts' expectations of $36.31 billion. During the same period last year, the company posted $4.63 earnings per share. The business's revenue for the quarter was down 10.3% on a year-over-year basis. On average, sell-side analysts anticipate that Phillips 66 will post 7.22 earnings per share for the current fiscal year.

Phillips 66 Profile

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.