Burney Co. Sells 13,003 Shares of Phillips 66 (NYSE:PSX)

Burney Co. lowered its holdings in Phillips 66 (NYSE:PSX - Free Report) by 41.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,009 shares of the oil and gas company's stock after selling 13,003 shares during the period. Burney Co.'s holdings in Phillips 66 were worth $2,052,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. nVerses Capital LLC bought a new position in shares of Phillips 66 in the 3rd quarter valued at about $26,000. Values First Advisors Inc. acquired a new position in Phillips 66 during the third quarter valued at approximately $30,000. Point72 Hong Kong Ltd acquired a new position in Phillips 66 during the third quarter valued at approximately $40,000. Strategic Investment Solutions Inc. IL bought a new position in Phillips 66 in the second quarter valued at approximately $51,000. Finally, Hoese & Co LLP increased its position in shares of Phillips 66 by 33.1% during the 3rd quarter. Hoese & Co LLP now owns 402 shares of the oil and gas company's stock worth $53,000 after purchasing an additional 100 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on PSX shares. Mizuho decreased their target price on shares of Phillips 66 from $150.00 to $147.00 and set a "neutral" rating for the company in a research note on Monday, December 16th. Wolfe Research raised shares of Phillips 66 from a "peer perform" rating to an "outperform" rating and set a $143.00 price objective for the company in a research report on Friday, January 3rd. Scotiabank dropped their target price on shares of Phillips 66 from $145.00 to $136.00 and set a "sector outperform" rating on the stock in a report on Thursday, October 10th. Wells Fargo & Company reduced their price target on Phillips 66 from $167.00 to $161.00 and set an "overweight" rating for the company in a report on Monday, December 9th. Finally, Bank of America assumed coverage on Phillips 66 in a research note on Thursday, October 17th. They issued a "buy" rating and a $156.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $147.93.

Phillips 66 Stock Performance

NYSE PSX traded up $0.68 on Thursday, reaching $119.68. The stock had a trading volume of 1,985,881 shares, compared to its average volume of 2,906,478. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The company has a market cap of $49.43 billion, a P/E ratio of 15.36, a price-to-earnings-growth ratio of 3.17 and a beta of 1.38. The firm has a fifty day moving average of $122.73 and a two-hundred day moving average of $129.95. Phillips 66 has a 1-year low of $108.90 and a 1-year high of $174.08.

Phillips 66 (NYSE:PSX - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, beating 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 business had revenue of $36.16 billion for the quarter, compared to the consensus estimate of $36.31 billion. During the same period in the prior year, the company posted $4.63 earnings per share. Phillips 66's revenue was down 10.3% compared to the same quarter last year. On average, equities research analysts anticipate that Phillips 66 will post 7.22 EPS for the current year.

About Phillips 66

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.