Daymark Wealth Partners LLC Grows Stake in Phillips 66 (NYSE:PSX)

Daymark Wealth Partners LLC boosted its holdings in Phillips 66 (NYSE:PSX) by 10.0% in the 4th quarter, HoldingsChannel reports. The firm owned 82,830 shares of the oil and gas company’s stock after purchasing an additional 7,535 shares during the quarter. Daymark Wealth Partners LLC’s holdings in Phillips 66 were worth $9,437,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. XTX Topco Ltd bought a new stake in shares of Phillips 66 in the 2nd quarter worth about $534,000. Pacer Advisors Inc. increased its stake in Phillips 66 by 4.8% during the second quarter. Pacer Advisors Inc. now owns 34,272 shares of the oil and gas company’s stock worth $4,838,000 after acquiring an additional 1,573 shares during the last quarter. Ensign Peak Advisors Inc raised its position in Phillips 66 by 1.8% during the second quarter. Ensign Peak Advisors Inc now owns 129,790 shares of the oil and gas company’s stock valued at $18,322,000 after purchasing an additional 2,330 shares during the period. ProShare Advisors LLC lifted its stake in shares of Phillips 66 by 15.6% in the 2nd quarter. ProShare Advisors LLC now owns 84,461 shares of the oil and gas company’s stock valued at $11,923,000 after purchasing an additional 11,374 shares during the last quarter. Finally, Epoch Investment Partners Inc. increased its position in shares of Phillips 66 by 1.6% during the 2nd quarter. Epoch Investment Partners Inc. now owns 6,197 shares of the oil and gas company’s stock valued at $875,000 after purchasing an additional 95 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on PSX shares. UBS Group lowered their price target on Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a research report on Monday, November 4th. JPMorgan Chase & Co. reduced their price objective on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 2nd. Bank of America began coverage on Phillips 66 in a research report on Thursday, October 17th. They set a “buy” rating and a $156.00 target price for the company. Scotiabank decreased their price target on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Finally, Wolfe Research upgraded Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective for the company in a report on Friday, January 3rd. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $147.93.

Phillips 66 Trading Down 0.1 %

NYSE:PSX opened at $120.38 on Wednesday. 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 50-day simple moving average of $122.18 and a 200-day simple moving average of $129.32. Phillips 66 has a one year low of $108.90 and a one year high of $174.08. The firm has a market cap of $49.72 billion, a P/E ratio of 15.45, a P/E/G ratio of 3.84 and a beta of 1.38.

Phillips 66 (NYSE:PSX) last announced its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.41. The business 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 for the quarter was down 10.3% on a year-over-year basis. During the same quarter last year, the firm earned $4.63 EPS. Equities analysts anticipate that Phillips 66 will post 6.41 EPS for the current fiscal year.

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.