Procyon Advisors LLC Increases Stock Position in Phillips 66 (NYSE:PSX)

Procyon Advisors LLC raised its position in Phillips 66 (NYSE:PSX) by 26.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 21,057 shares of the oil and gas company’s stock after buying an additional 4,419 shares during the period. Procyon Advisors LLC’s holdings in Phillips 66 were worth $2,399,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Everpar Advisors LLC increased its stake in shares of Phillips 66 by 2.5% in the 4th quarter. Everpar Advisors LLC now owns 4,005 shares of the oil and gas company’s stock valued at $456,000 after purchasing an additional 96 shares in the last quarter. RDA Financial Network boosted its position in Phillips 66 by 5.1% during the fourth quarter. RDA Financial Network now owns 3,619 shares of the oil and gas company’s stock worth $412,000 after purchasing an additional 174 shares in the last quarter. KMG Fiduciary Partners LLC grew its holdings in Phillips 66 by 19.7% in the fourth quarter. KMG Fiduciary Partners LLC now owns 18,017 shares of the oil and gas company’s stock valued at $2,053,000 after purchasing an additional 2,960 shares during the period. Empirical Asset Management LLC increased its position in shares of Phillips 66 by 47.7% in the fourth quarter. Empirical Asset Management LLC now owns 35,148 shares of the oil and gas company’s stock valued at $4,004,000 after buying an additional 11,346 shares in the last quarter. Finally, Bennett Associates Wealth Management raised its stake in shares of Phillips 66 by 10.9% during the 4th quarter. Bennett Associates Wealth Management now owns 4,300 shares of the oil and gas company’s stock worth $490,000 after buying an additional 421 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Mizuho dropped their price target on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a research note on Monday, December 16th. UBS Group dropped their target price on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Wells Fargo & Company reduced their price target 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. Wolfe Research upgraded Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective on the stock in a report on Friday, January 3rd. Finally, JPMorgan Chase & Co. reduced their target price on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a report on Wednesday, October 2nd. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $147.93.

Phillips 66 Stock Up 0.8 %

NYSE PSX opened at $120.64 on Friday. The business’s fifty day simple moving average is $122.59 and its 200-day simple moving average is $129.88. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The firm has a market cap of $49.82 billion, a PE ratio of 15.49, a P/E/G ratio of 3.17 and a beta of 1.38. Phillips 66 has a 52 week low of $108.90 and a 52 week high of $174.08.

Phillips 66 (NYSE:PSX) last issued its 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. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The company had revenue of $36.16 billion for the quarter, compared to the consensus estimate of $36.31 billion. During the same period in the previous year, the firm earned $4.63 earnings per share. Phillips 66’s quarterly revenue was down 10.3% compared to the same quarter last year. As a group, equities analysts anticipate that Phillips 66 will post 7.22 earnings per share 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.