Gateway Investment Advisers LLC Cuts Stake in Phillips 66 (NYSE:PSX)

Gateway Investment Advisers LLC lowered its position in Phillips 66 (NYSE:PSX - Free Report) by 22.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,636 shares of the oil and gas company's stock after selling 3,135 shares during the period. Gateway Investment Advisers LLC's holdings in Phillips 66 were worth $1,212,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. nVerses Capital LLC acquired a new stake in Phillips 66 in the third quarter valued at $26,000. Values First Advisors Inc. purchased a new position in Phillips 66 during the 3rd quarter valued at about $30,000. Point72 Hong Kong Ltd acquired a new position in Phillips 66 during the third quarter worth about $40,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Phillips 66 in the second quarter valued at about $51,000. Finally, Hoese & Co LLP grew its position in shares of Phillips 66 by 33.1% in the third quarter. Hoese & Co LLP now owns 402 shares of the oil and gas company's stock valued at $53,000 after purchasing an additional 100 shares during the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Trading Up 0.8 %

Shares of PSX traded up $1.01 during mid-day trading on Friday, reaching $120.64. The company had a trading volume of 2,722,245 shares, compared to its average volume of 2,658,786. Phillips 66 has a fifty-two week low of $108.90 and a fifty-two week high of $174.08. The firm has a fifty day simple moving average of $122.47 and a 200-day simple moving average of $129.66. The stock has a market cap of $49.82 billion, a price-to-earnings ratio of 15.49, a price-to-earnings-growth ratio of 3.17 and a beta of 1.38. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX - Get Free Report) last issued its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, beating analysts' consensus estimates of $1.63 by $0.41. The firm 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%. The firm's revenue for the quarter was down 10.3% compared to the same quarter last year. During the same quarter last year, the firm earned $4.63 earnings per share. On average, sell-side analysts anticipate that Phillips 66 will post 7.22 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PSX has been the subject of several research reports. Piper Sandler downgraded Phillips 66 from a "strong-buy" rating to a "hold" rating in a research report on Friday, January 10th. Wells Fargo & Company cut their price target on Phillips 66 from $167.00 to $161.00 and set an "overweight" rating for the company in a report on Monday, December 9th. Scotiabank dropped their price objective on Phillips 66 from $145.00 to $136.00 and set a "sector outperform" rating for the company in a research report on Thursday, October 10th. Wolfe Research raised shares of 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. Finally, UBS Group decreased their price target on shares of Phillips 66 from $150.00 to $138.00 and set a "buy" rating on the stock in a research note on Monday, November 4th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Phillips 66 has a consensus rating of "Moderate Buy" and a consensus target price of $147.93.

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.