Procyon Advisors LLC Has $2.40 Million Stake in Phillips 66 (NYSE:PSX)

Procyon Advisors LLC lifted its holdings in shares of Phillips 66 (NYSE:PSX - Free Report) by 26.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,057 shares of the oil and gas company's stock after purchasing an additional 4,419 shares during the period. Procyon Advisors LLC's holdings in Phillips 66 were worth $2,399,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Advisory Alpha LLC boosted its holdings in Phillips 66 by 4.8% in the second quarter. Advisory Alpha LLC now owns 1,648 shares of the oil and gas company's stock worth $233,000 after purchasing an additional 76 shares in the last quarter. Krane Funds Advisors LLC lifted its position in shares of Phillips 66 by 3.6% in the third quarter. Krane Funds Advisors LLC now owns 2,350 shares of the oil and gas company's stock worth $309,000 after buying an additional 82 shares during the last quarter. Richwood Investment Advisors LLC boosted its stake in shares of Phillips 66 by 1.9% during the 3rd quarter. Richwood Investment Advisors LLC now owns 4,580 shares of the oil and gas company's stock worth $602,000 after acquiring an additional 85 shares in the last quarter. Cobblestone Capital Advisors LLC NY increased its holdings in shares of Phillips 66 by 0.5% during the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 17,548 shares of the oil and gas company's stock valued at $2,307,000 after acquiring an additional 89 shares during the last quarter. Finally, Western Financial Corp CA lifted its holdings in Phillips 66 by 1.6% in the 3rd quarter. Western Financial Corp CA now owns 5,882 shares of the oil and gas company's stock worth $773,000 after purchasing an additional 91 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have commented on PSX. Wells Fargo & Company lowered their price target on Phillips 66 from $167.00 to $161.00 and set an "overweight" rating on the stock in a report on Monday, December 9th. 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. UBS Group cut their target price on shares of Phillips 66 from $150.00 to $138.00 and set a "buy" rating for the company in a research report on Monday, November 4th. Piper Sandler downgraded Phillips 66 from a "strong-buy" rating to a "hold" rating in a research report on Friday, January 10th. Finally, Barclays decreased their target price on Phillips 66 from $124.00 to $115.00 and set an "equal weight" rating for the company in a research note on Monday, January 13th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $147.93.

Phillips 66 Price Performance

NYSE PSX traded up $1.01 during trading on Friday, reaching $120.64. 2,722,245 shares of the company traded hands, compared to its average volume of 2,658,786. Phillips 66 has a 1-year low of $108.90 and a 1-year high of $174.08. The company has a market cap of $49.82 billion, a price-to-earnings ratio of 15.49, a P/E/G ratio of 3.17 and a beta of 1.38. The stock's 50 day moving average price is $122.47 and its two-hundred day moving average price is $129.74. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21.

Phillips 66 (NYSE:PSX - Get Free Report) last announced its quarterly 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 business's revenue was down 10.3% compared to the same quarter last year. During the same period in the prior year, the business posted $4.63 earnings per share. As a group, analysts anticipate 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.