Pacer Advisors Inc. Boosts Stock Position in Phillips 66 (NYSE:PSX)

Pacer Advisors Inc. lifted its position in shares of Phillips 66 (NYSE:PSX - Free Report) by 580.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 211,124 shares of the oil and gas company's stock after acquiring an additional 180,097 shares during the period. Pacer Advisors Inc. owned approximately 0.05% of Phillips 66 worth $24,053,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently modified their holdings of the company. Mizuho Securities USA LLC grew its holdings in Phillips 66 by 7,549.0% during 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 during the last quarter. ING Groep NV increased its holdings in Phillips 66 by 123.2% in the third 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 period. Bank of Montreal Can increased its holdings 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 valued at $214,120,000 after purchasing an additional 633,970 shares during the period. Mizuho Markets Americas LLC acquired a new stake in shares of Phillips 66 in the third quarter valued at about $70,983,000. Finally, Assenagon Asset Management S.A. raised its position in shares of Phillips 66 by 73.2% during the third quarter. Assenagon Asset Management S.A. now owns 732,556 shares of the oil and gas company's stock worth $96,294,000 after acquiring an additional 309,507 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Barclays decreased their price target on Phillips 66 from $124.00 to $115.00 and set an "equal weight" rating for the company in a report on Monday, January 13th. Piper Sandler cut Phillips 66 from a "strong-buy" rating to a "hold" rating in a report on Friday, January 10th. UBS Group lowered their price objective on shares of Phillips 66 from $150.00 to $138.00 and set a "buy" rating for the company in a research note on Monday, November 4th. Mizuho cut their target price on shares of 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, Scotiabank decreased their price target on shares of Phillips 66 from $145.00 to $136.00 and set a "sector outperform" rating for the company in a research note 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. Based on data from MarketBeat, Phillips 66 presently has an average rating of "Moderate Buy" and an average target price of $147.93.

Phillips 66 Stock Down 1.6 %

PSX traded down $1.95 during mid-day trading on Tuesday, reaching $121.13. 3,025,400 shares of the stock were exchanged, compared to its average volume of 2,826,129. Phillips 66 has a 1 year low of $108.90 and a 1 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 stock has a market capitalization of $50.02 billion, a PE ratio of 15.55, a price-to-earnings-growth ratio of 3.78 and a beta of 1.38. The company has a 50 day moving average price of $121.46 and a two-hundred day moving average price of $128.94.

Phillips 66 (NYSE:PSX - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, topping 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 business had revenue of $36.16 billion during the quarter, compared to the consensus estimate of $36.31 billion. During the same period in the prior year, the firm posted $4.63 EPS. The firm's quarterly revenue was down 10.3% compared to the same quarter last year. As a group, research analysts anticipate that Phillips 66 will post 6.41 EPS for the current year.

Phillips 66 Company 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.