Park Avenue Securities LLC Has $5.44 Million Holdings in Phillips 66 (NYSE:PSX)

Park Avenue Securities LLC boosted its holdings in Phillips 66 (NYSE:PSX - Free Report) by 8.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,774 shares of the oil and gas company's stock after purchasing an additional 3,905 shares during the period. Park Avenue Securities LLC's holdings in Phillips 66 were worth $5,443,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Legal & General Group Plc increased its position in shares of Phillips 66 by 0.5% in the second quarter. Legal & General Group Plc now owns 3,699,370 shares of the oil and gas company's stock valued at $522,240,000 after acquiring an additional 18,238 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Phillips 66 by 0.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,901,887 shares of the oil and gas company's stock worth $381,453,000 after purchasing an additional 16,941 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its stake in shares of Phillips 66 by 2.9% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,813,579 shares of the oil and gas company's stock worth $397,193,000 after purchasing an additional 79,301 shares in the last quarter. Mizuho Securities USA LLC boosted its holdings in shares of Phillips 66 by 7,549.0% in the 3rd 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 buying an additional 2,467,316 shares during the last quarter. Finally, Bank of Montreal Can grew its stake in shares of 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 buying an additional 633,970 shares in the last quarter. 76.93% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PSX has been the topic of several analyst reports. Barclays dropped their price target on shares of Phillips 66 from $124.00 to $115.00 and set an "equal weight" rating on the stock in a research report 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. Scotiabank reduced their price target on Phillips 66 from $145.00 to $136.00 and set a "sector outperform" rating for the company in a report on Thursday, October 10th. Bank of America initiated coverage on Phillips 66 in a research note on Thursday, October 17th. They issued a "buy" rating and a $156.00 price objective on the stock. Finally, Wolfe Research upgraded Phillips 66 from a "peer perform" rating to an "outperform" rating and set a $143.00 target price for the company in a research note on Friday, January 3rd. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Phillips 66 presently has an average rating of "Moderate Buy" and a consensus price target of $147.93.

Phillips 66 Price Performance

NYSE:PSX traded up $0.68 during trading hours on Thursday, reaching $119.68. 1,985,881 shares of the company were exchanged, compared to its average volume of 2,906,478. The company has a market capitalization of $49.43 billion, a P/E ratio of 15.36, a P/E/G ratio of 3.17 and a beta of 1.38. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The business has a 50 day moving average of $122.73 and a 200 day moving average of $129.95. Phillips 66 has a 1-year low of $108.90 and a 1-year high of $174.08.

Phillips 66 (NYSE:PSX - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, topping analysts' consensus estimates of $1.63 by $0.41. The company had revenue of $36.16 billion for 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%. Phillips 66's revenue was down 10.3% on a year-over-year basis. During the same quarter last year, the business earned $4.63 earnings per share. Research analysts forecast that Phillips 66 will post 7.22 EPS 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.