Royal Fund Management LLC Sells 58,339 Shares of Phillips 66 (NYSE:PSX)

Royal Fund Management LLC cut its holdings in shares of Phillips 66 (NYSE:PSX) by 53.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 50,381 shares of the oil and gas company’s stock after selling 58,339 shares during the quarter. Royal Fund Management LLC’s holdings in Phillips 66 were worth $5,785,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of PSX. nVerses Capital LLC acquired a new position in Phillips 66 during the third quarter valued at approximately $26,000. Values First Advisors Inc. bought a new position in shares of Phillips 66 during the third quarter worth $30,000. Point72 Hong Kong Ltd acquired a new position in shares of Phillips 66 in the 3rd quarter valued at $40,000. Sugar Maple Asset Management LLC bought a new stake in shares of Phillips 66 in the 4th quarter valued at $47,000. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in Phillips 66 during the 2nd quarter worth $51,000. 76.93% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on PSX shares. Wolfe Research raised 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. Bank of America assumed coverage on Phillips 66 in a research note on Thursday, October 17th. They set a “buy” rating and a $156.00 target price for the company. Mizuho reduced their price target on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a report on Monday, December 16th. Scotiabank dropped their price objective on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Finally, Barclays reduced their target price on shares of 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 equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $147.93.

Phillips 66 Stock Performance

Shares of PSX opened at $120.64 on Tuesday. The company has a market cap of $49.82 billion, a PE ratio of 15.49, a price-to-earnings-growth ratio of 3.76 and a beta of 1.38. The firm has a 50-day moving average of $122.47 and a 200-day moving average of $129.59. Phillips 66 has a one year low of $108.90 and a one year high of $174.08. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.41. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The company had revenue of $36.16 billion during the quarter, compared to analysts’ expectations of $36.31 billion. During the same period last year, the firm posted $4.63 earnings per share. The business’s revenue was down 10.3% on a year-over-year basis. As a group, equities analysts forecast that Phillips 66 will post 6.51 earnings per share for the current year.

About Phillips 66

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.