Donoghue Forlines LLC Acquires New Shares in Phillips 66 (NYSE:PSX)

Donoghue Forlines LLC bought a new stake in Phillips 66 (NYSE:PSX) during the fourth quarter, Holdings Channel reports. The institutional investor bought 12,625 shares of the oil and gas company’s stock, valued at approximately $1,438,000.

Several other hedge funds also recently bought and sold shares of PSX. XTX Topco Ltd bought a new stake in Phillips 66 in the second quarter worth approximately $534,000. Pacer Advisors Inc. lifted its stake in shares of Phillips 66 by 4.8% in the 2nd quarter. Pacer Advisors Inc. now owns 34,272 shares of the oil and gas company’s stock valued at $4,838,000 after purchasing an additional 1,573 shares during the last quarter. Evergreen Capital Management LLC boosted its holdings in Phillips 66 by 4.1% in the second quarter. Evergreen Capital Management LLC now owns 4,496 shares of the oil and gas company’s stock worth $635,000 after purchasing an additional 179 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in Phillips 66 by 55.5% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 81,954 shares of the oil and gas company’s stock worth $11,569,000 after buying an additional 29,260 shares during the last quarter. Finally, Sfmg LLC raised its holdings in Phillips 66 by 12.9% during the second quarter. Sfmg LLC now owns 1,605 shares of the oil and gas company’s stock valued at $227,000 after buying an additional 184 shares in the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PSX has been the subject of several recent analyst reports. 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. JPMorgan Chase & Co. decreased their target price on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. Bank of America initiated coverage on shares of Phillips 66 in a research report on Thursday, October 17th. They issued a “buy” rating and a $156.00 price target on the stock. UBS Group lowered 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 note on Monday, November 4th. Finally, Piper Sandler lowered shares of 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 eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, Phillips 66 has a consensus rating of “Moderate Buy” and an average price target of $147.93.

Phillips 66 Price Performance

Shares of NYSE:PSX opened at $119.72 on Thursday. The firm has a market capitalization of $49.44 billion, a PE ratio of 15.34, a PEG ratio of 3.84 and a beta of 1.38. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. Phillips 66 has a 1-year low of $108.90 and a 1-year high of $174.08. The business’s 50 day moving average is $121.95 and its 200-day moving average is $129.24.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share 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 firm had revenue of $36.16 billion for the quarter, compared to the consensus estimate of $36.31 billion. During the same quarter in the previous year, the company earned $4.63 earnings per share. The business’s revenue was down 10.3% compared to the same quarter last year. Sell-side analysts predict that Phillips 66 will post 6.41 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.