Smith Group Asset Management LLC Acquires Shares of 10,084 Phillips 66 (NYSE:PSX)

Smith Group Asset Management LLC bought a new position in shares of Phillips 66 (NYSE:PSX - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 10,084 shares of the oil and gas company's stock, valued at approximately $1,149,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. nVerses Capital LLC purchased a new stake in shares of Phillips 66 in the third quarter worth $26,000. Values First Advisors Inc. purchased a new stake in shares of Phillips 66 in the 3rd quarter valued at about $30,000. Webster Bank N. A. raised its holdings in shares of Phillips 66 by 48.4% in the 4th quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company's stock valued at $31,000 after acquiring an additional 88 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of Phillips 66 during the 3rd quarter valued at about $40,000. Finally, Sugar Maple Asset Management LLC purchased a new position in shares of Phillips 66 during the fourth quarter worth about $47,000. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Scotiabank dropped their target price on shares of 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. Wells Fargo & Company cut their target price on shares of Phillips 66 from $167.00 to $161.00 and set an "overweight" rating for the company in a research report on Monday, December 9th. Mizuho lowered their price target on Phillips 66 from $150.00 to $147.00 and set a "neutral" rating on the stock in a research report on Monday, December 16th. UBS Group cut their price objective on Phillips 66 from $150.00 to $138.00 and set a "buy" rating for the company in a report on Monday, November 4th. Finally, Piper Sandler lowered Phillips 66 from a "strong-buy" rating to a "hold" rating in a research report on Friday, January 10th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $147.93.

Phillips 66 Trading Up 0.8 %

Shares of NYSE PSX traded up $1.02 during mid-day trading on Wednesday, hitting $122.20. The stock had a trading volume of 1,720,091 shares, compared to its average volume of 2,764,681. The business has a 50 day moving average price of $121.27 and a two-hundred day moving average price of $128.82. Phillips 66 has a 1 year low of $108.90 and a 1 year high of $174.08. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. The firm has a market cap of $50.47 billion, a P/E ratio of 15.69, a price-to-earnings-growth ratio of 3.78 and a beta of 1.38.

Phillips 66 (NYSE:PSX - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, beating the consensus estimate of $1.63 by $0.41. The firm had revenue of $36.16 billion during the quarter, compared to the consensus estimate of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The company's quarterly revenue was down 10.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.63 earnings per share. On average, equities analysts anticipate that Phillips 66 will post 6.41 EPS for the current fiscal 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.