HB Wealth Management LLC Buys 2,768 Shares of Phillips 66 (NYSE:PSX)

HB Wealth Management LLC grew its position in shares of Phillips 66 (NYSE:PSX - Free Report) by 14.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,539 shares of the oil and gas company's stock after buying an additional 2,768 shares during the quarter. HB Wealth Management LLC's holdings in Phillips 66 were worth $2,568,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. nVerses Capital LLC bought a new stake in Phillips 66 during the third quarter worth $26,000. Values First Advisors Inc. bought a new position in Phillips 66 in the 3rd quarter valued at $30,000. Point72 Hong Kong Ltd purchased a new stake in shares of Phillips 66 during the 3rd quarter valued at $40,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Phillips 66 during the 2nd quarter worth $51,000. Finally, Hoese & Co LLP boosted its holdings in shares of Phillips 66 by 33.1% in the 3rd quarter. Hoese & Co LLP now owns 402 shares of the oil and gas company's stock worth $53,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Barclays decreased 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 report on Monday, January 13th. JPMorgan Chase & Co. dropped their price objective on Phillips 66 from $160.00 to $141.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 2nd. Bank of America assumed coverage on Phillips 66 in a report on Thursday, October 17th. They set a "buy" rating and a $156.00 price objective for the company. Mizuho lowered their target price on Phillips 66 from $150.00 to $147.00 and set a "neutral" rating on the stock in a research note on Monday, December 16th. Finally, Wells Fargo & Company cut their price target on Phillips 66 from $167.00 to $161.00 and set an "overweight" rating for the company in a research note on Monday, December 9th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $147.93.

Phillips 66 Price Performance

Shares of NYSE:PSX traded up $1.01 during trading on Monday, reaching $120.64. The company had a trading volume of 2,722,245 shares, compared to its average volume of 2,658,786. The company has a fifty day moving average of $122.47 and a two-hundred day moving average of $129.59. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $49.82 billion, a P/E ratio of 15.49, a price-to-earnings-growth ratio of 3.17 and a beta of 1.38. Phillips 66 has a 12 month low of $108.90 and a 12 month high of $174.08.

Phillips 66 (NYSE:PSX - Get Free Report) last released its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, beating analysts' consensus estimates of $1.63 by $0.41. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The business had revenue of $36.16 billion for the quarter, compared to analysts' expectations of $36.31 billion. During the same quarter in the prior year, the firm earned $4.63 earnings per share. The firm's revenue was down 10.3% on a year-over-year basis. Equities research analysts forecast that Phillips 66 will post 7.22 earnings per share 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.