KMG Fiduciary Partners LLC Has $2.05 Million Holdings in Phillips 66 (NYSE:PSX)

KMG Fiduciary Partners LLC lifted its stake in shares of Phillips 66 (NYSE:PSX - Free Report) by 19.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,017 shares of the oil and gas company's stock after acquiring an additional 2,960 shares during the quarter. KMG Fiduciary Partners LLC's holdings in Phillips 66 were worth $2,053,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Van ECK Associates Corp boosted its position in shares of Phillips 66 by 263.3% during the 3rd quarter. Van ECK Associates Corp now owns 83,278 shares of the oil and gas company's stock valued at $10,753,000 after purchasing an additional 60,355 shares in the last quarter. Everence Capital Management Inc. bought a new stake in Phillips 66 during the fourth quarter worth approximately $3,033,000. Mizuho Securities USA LLC grew its position in Phillips 66 by 7,549.0% in the third 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. Nwam LLC bought a new position in shares of Phillips 66 in the third quarter valued at $498,000. Finally, Principal Financial Group Inc. lifted its position in shares of Phillips 66 by 2.8% during the 3rd quarter. Principal Financial Group Inc. now owns 530,807 shares of the oil and gas company's stock valued at $69,775,000 after acquiring an additional 14,209 shares during the last quarter. Institutional investors own 76.93% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Wells Fargo & Company decreased their price objective on shares of Phillips 66 from $167.00 to $161.00 and set an "overweight" rating for the company in a research note on Monday, December 9th. Barclays lowered their target price on Phillips 66 from $124.00 to $115.00 and set an "equal weight" rating on the stock in a research note on Monday. Piper Sandler cut shares of Phillips 66 from a "strong-buy" rating to a "hold" rating in a report on Friday, January 10th. Wolfe Research raised shares of Phillips 66 from a "peer perform" rating to an "outperform" rating and set a $143.00 price objective on the stock in a research report on Friday, January 3rd. Finally, JPMorgan Chase & Co. decreased their target price on shares of Phillips 66 from $160.00 to $141.00 and set an "overweight" rating for the company in a research note on Wednesday, October 2nd. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat, Phillips 66 has an average rating of "Moderate Buy" and an average target price of $147.93.

Phillips 66 Stock Up 0.8 %

Shares of NYSE PSX traded up $1.01 during mid-day trading on Friday, reaching $120.64. 1,764,791 shares of the company traded hands, compared to its average volume of 2,775,236. The company's fifty day moving average is $122.59 and its two-hundred day moving average is $129.88. Phillips 66 has a fifty-two week low of $108.90 and a fifty-two week 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 stock has a market cap of $49.82 billion, a PE ratio of 15.49, a price-to-earnings-growth ratio of 3.17 and a beta of 1.38.

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 analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $36.31 billion. During the same quarter last year, the firm posted $4.63 earnings per share. The company's quarterly revenue was down 10.3% compared to the same quarter last year. On average, analysts expect that Phillips 66 will post 7.22 earnings per share 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.