Great Diamond Partners LLC reduced its position in shares of Phillips 66 (NYSE:PSX - Free Report) by 67.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,764 shares of the oil and gas company's stock after selling 3,578 shares during the period. Great Diamond Partners LLC's holdings in Phillips 66 were worth $201,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PSX. Mizuho Securities USA LLC boosted its holdings 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 acquiring an additional 2,467,316 shares in the last quarter. ING Groep NV raised its position in 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 valued at $155,503,000 after purchasing an additional 653,032 shares during the last quarter. Bank of Montreal Can boosted its stake 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 purchasing an additional 633,970 shares in the last quarter. Mizuho Markets Americas LLC bought a new stake in shares of Phillips 66 during the third quarter worth $70,983,000. Finally, Assenagon Asset Management S.A. increased its stake in shares of Phillips 66 by 73.2% in the third quarter. Assenagon Asset Management S.A. now owns 732,556 shares of the oil and gas company's stock valued at $96,294,000 after buying an additional 309,507 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research analysts recently issued reports on the stock. UBS Group reduced their price target on shares of Phillips 66 from $150.00 to $138.00 and set a "buy" rating on the stock in a research report on Monday, November 4th. Wolfe Research raised shares of Phillips 66 from a "peer perform" rating to an "outperform" rating and set a $143.00 price target on the stock in a research note on Friday, January 3rd. Barclays dropped their price objective on shares of Phillips 66 from $124.00 to $115.00 and set an "equal weight" rating for the company in a research report on Monday, January 13th. Piper Sandler lowered Phillips 66 from a "strong-buy" rating to a "hold" rating in a research report on Friday, January 10th. Finally, Bank of America began coverage on Phillips 66 in a research report on Thursday, October 17th. They set a "buy" rating and a $156.00 target price for the company. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $147.93.
Read Our Latest Stock Analysis on PSX
Phillips 66 Stock Performance
Shares of NYSE:PSX opened at $117.24 on Friday. The company has a market capitalization of $48.42 billion, a price-to-earnings ratio of 15.05, a P/E/G ratio of 4.03 and a beta of 1.38. The firm's 50 day simple moving average is $120.86 and its 200 day simple moving average is $128.72. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. Phillips 66 has a fifty-two week low of $108.90 and a fifty-two week high of $174.08.
Phillips 66 (NYSE:PSX - Get Free Report) last announced its quarterly earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share (EPS) 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 quarter last year, the business posted $3.09 earnings per share. As a group, sell-side analysts forecast that Phillips 66 will post 6.27 earnings per share for the current year.
About Phillips 66
(
Free Report)
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.
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