PFW Advisors LLC purchased a new position in shares of Phillips 66 (NYSE:PSX - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 18,895 shares of the oil and gas company's stock, valued at approximately $2,153,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Van ECK Associates Corp boosted its position in Phillips 66 by 263.3% during the third quarter. Van ECK Associates Corp now owns 83,278 shares of the oil and gas company's stock worth $10,753,000 after acquiring an additional 60,355 shares during the last quarter. Everence Capital Management Inc. acquired a new stake in shares of Phillips 66 during the fourth quarter worth $3,033,000. Mizuho Securities USA LLC grew its position in shares of 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 valued at $328,625,000 after purchasing an additional 2,467,316 shares during the period. Nwam LLC acquired a new position in Phillips 66 in the third quarter valued at $498,000. Finally, Principal Financial Group Inc. boosted its stake in Phillips 66 by 2.8% in the 3rd quarter. Principal Financial Group Inc. now owns 530,807 shares of the oil and gas company's stock worth $69,775,000 after buying an additional 14,209 shares during the last quarter. 76.93% of the stock is currently owned by hedge funds and other institutional investors.
Phillips 66 Stock Up 1.8 %
Shares of NYSE:PSX traded up $2.09 during midday trading on Monday, reaching $116.02. The company had a trading volume of 4,153,569 shares, compared to its average volume of 3,021,066. The stock has a market capitalization of $47.91 billion, a P/E ratio of 14.89, a PEG ratio of 4.06 and a beta of 1.38. The stock's fifty day moving average price is $123.10 and its 200-day moving average price is $130.36. 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 one year low of $108.90 and a one year high of $174.08.
Phillips 66 (NYSE:PSX - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.41. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The firm had revenue of $36.16 billion during the quarter, compared to analyst estimates of $36.31 billion. During the same period in the previous year, the company earned $4.63 earnings per share. Phillips 66's quarterly revenue was down 10.3% on a year-over-year basis. Equities research analysts expect that Phillips 66 will post 7.56 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several brokerages have recently weighed in on PSX. Scotiabank cut their price objective on shares of Phillips 66 from $145.00 to $136.00 and set a "sector outperform" rating on the stock in a report on Thursday, October 10th. Barclays lowered 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 note on Monday. Piper Sandler set a $144.00 price target on Phillips 66 in a research report on Thursday, October 17th. UBS Group reduced their price objective on Phillips 66 from $150.00 to $138.00 and set a "buy" rating on the stock in a research note on Monday, November 4th. Finally, Morgan Stanley dropped their target price on shares of Phillips 66 from $150.00 to $144.00 and set an "equal weight" rating for the company in a research report on Monday, September 16th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $147.93.
Read Our Latest Research Report on PSX
Phillips 66 Profile
(
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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