Fifth Third Bancorp Sells 7,331 Shares of Phillips 66 (NYSE:PSX)

Fifth Third Bancorp cut its position in shares of Phillips 66 (NYSE:PSX - Free Report) by 22.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,239 shares of the oil and gas company's stock after selling 7,331 shares during the quarter. Fifth Third Bancorp's holdings in Phillips 66 were worth $2,875,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. CX Institutional lifted its position in shares of Phillips 66 by 7.9% in the fourth quarter. CX Institutional now owns 3,173 shares of the oil and gas company's stock worth $362,000 after purchasing an additional 233 shares in the last quarter. Southland Equity Partners LLC lifted its position in shares of Phillips 66 by 17.7% in the fourth quarter. Southland Equity Partners LLC now owns 3,818 shares of the oil and gas company's stock worth $435,000 after purchasing an additional 573 shares in the last quarter. Sound Income Strategies LLC lifted its position in shares of Phillips 66 by 34.8% in the fourth quarter. Sound Income Strategies LLC now owns 620 shares of the oil and gas company's stock worth $71,000 after purchasing an additional 160 shares in the last quarter. LexAurum Advisors LLC purchased a new stake in shares of Phillips 66 in the fourth quarter worth approximately $380,000. Finally, RFG Advisory LLC lifted its position in shares of Phillips 66 by 9.2% in the fourth quarter. RFG Advisory LLC now owns 7,362 shares of the oil and gas company's stock worth $839,000 after purchasing an additional 623 shares in the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PSX. Bank of America began coverage on shares of Phillips 66 in a research report on Thursday, October 17th. They issued a "buy" rating and a $156.00 price target for the company. Wolfe Research upgraded Phillips 66 from a "peer perform" rating to an "outperform" rating and set a $143.00 price objective on the stock in a report on Friday, January 3rd. UBS Group dropped their price objective on Phillips 66 from $150.00 to $138.00 and set a "buy" rating on the stock in a report on Monday, November 4th. Barclays dropped their price objective on Phillips 66 from $124.00 to $115.00 and set an "equal weight" rating on the stock in a report on Monday, January 13th. Finally, Scotiabank dropped their price objective on Phillips 66 from $145.00 to $136.00 and set a "sector outperform" rating on the stock in a report on Thursday, October 10th. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $147.93.

Phillips 66 Stock Performance

Shares of PSX traded down $3.60 during mid-day trading on Friday, hitting $117.24. The company's stock had a trading volume of 7,253,024 shares, compared to its average volume of 3,043,957. Phillips 66 has a one year low of $108.90 and a one year high of $174.08. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. The firm has a market capitalization of $48.42 billion, a PE ratio of 15.05, a price-to-earnings-growth ratio of 4.03 and a beta of 1.38. The stock's 50-day moving average is $120.86 and its two-hundred day moving average is $128.72.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of $1.23 by ($1.38). Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. During the same period in the prior year, the firm earned $3.09 earnings per share. As a group, sell-side analysts anticipate that Phillips 66 will post 6.27 EPS for the current 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.