Miracle Mile Advisors LLC Purchases 12,147 Shares of Phillips 66 (NYSE:PSX)

Miracle Mile Advisors LLC lifted its holdings in Phillips 66 (NYSE:PSX - Free Report) by 56.1% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 33,802 shares of the oil and gas company's stock after buying an additional 12,147 shares during the period. Miracle Mile Advisors LLC's holdings in Phillips 66 were worth $3,851,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PSX. nVerses Capital LLC purchased a new position in Phillips 66 in the third quarter worth $26,000. Values First Advisors Inc. bought a new stake in shares of Phillips 66 during the 3rd quarter worth $30,000. Point72 Hong Kong Ltd purchased a new position in shares of Phillips 66 in the 3rd quarter worth about $40,000. Strategic Investment Solutions Inc. IL bought a new position in Phillips 66 during the second quarter valued at about $51,000. Finally, Hoese & Co LLP increased its holdings in Phillips 66 by 33.1% during the third 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.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on PSX shares. Bank of America initiated coverage on shares of Phillips 66 in a research note on Thursday, October 17th. They issued a "buy" rating and a $156.00 target price on the stock. Scotiabank dropped their price objective on Phillips 66 from $145.00 to $136.00 and set a "sector outperform" rating on the stock in a research note on Thursday, October 10th. JPMorgan Chase & Co. decreased their target price on Phillips 66 from $160.00 to $141.00 and set an "overweight" rating for the company in a research report on Wednesday, October 2nd. Wolfe Research raised Phillips 66 from a "peer perform" rating to an "outperform" rating and set a $143.00 price target on the stock in a research report on Friday, January 3rd. Finally, Mizuho cut their price target on Phillips 66 from $150.00 to $147.00 and set a "neutral" rating for the company in a research note on Monday, December 16th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $147.93.

Phillips 66 Price Performance

NYSE:PSX traded up $1.05 during trading hours on Tuesday, hitting $117.03. The stock had a trading volume of 3,283,983 shares, compared to its average volume of 3,054,485. The firm has a market capitalization of $48.33 billion, a price-to-earnings ratio of 15.02, a P/E/G ratio of 4.06 and a beta of 1.38. Phillips 66 has a one year low of $108.90 and a one year high of $174.08. The company has a 50 day simple moving average of $122.91 and a two-hundred day simple moving average of $130.03. 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 (NYSE:PSX - Get Free Report) last posted its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, topping the consensus estimate of $1.63 by $0.41. The business had revenue of $36.16 billion during the quarter, compared to analysts' expectations of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The firm's revenue was down 10.3% on a year-over-year basis. During the same period in the previous year, the business earned $4.63 earnings per share. Research analysts forecast that Phillips 66 will post 7.56 earnings per share for the current fiscal 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.