Phillips 66 (NYSE:PSX) Shares Sold by CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lowered its holdings in Phillips 66 (NYSE:PSX) by 1.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 168,306 shares of the oil and gas company’s stock after selling 1,720 shares during the period. Phillips 66 accounts for 1.3% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s investment portfolio, making the stock its 22nd largest holding. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings in Phillips 66 were worth $19,175,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. CX Institutional increased its stake in shares of Phillips 66 by 7.9% during the 4th quarter. CX Institutional now owns 3,173 shares of the oil and gas company’s stock valued at $362,000 after acquiring an additional 233 shares during the last quarter. Southland Equity Partners LLC grew its holdings in Phillips 66 by 17.7% in the fourth quarter. Southland Equity Partners LLC now owns 3,818 shares of the oil and gas company’s stock valued at $435,000 after purchasing an additional 573 shares during the period. Sound Income Strategies LLC increased its position in Phillips 66 by 34.8% during the fourth quarter. Sound Income Strategies LLC now owns 620 shares of the oil and gas company’s stock worth $71,000 after purchasing an additional 160 shares during the last quarter. LexAurum Advisors LLC purchased a new position in Phillips 66 during the fourth quarter worth approximately $380,000. Finally, RFG Advisory LLC boosted its holdings in shares of Phillips 66 by 9.2% in the 4th quarter. RFG Advisory LLC now owns 7,362 shares of the oil and gas company’s stock valued at $839,000 after purchasing an additional 623 shares during the last quarter. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Phillips 66 Stock Performance

NYSE:PSX opened at $121.82 on Friday. The firm has a 50-day moving average of $121.81 and a two-hundred day moving average of $129.20. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The stock has a market cap of $50.31 billion, a P/E ratio of 15.64, a PEG ratio of 3.78 and a beta of 1.38. Phillips 66 has a 1-year low of $108.90 and a 1-year high of $174.08.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 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 firm had revenue of $36.16 billion during the quarter, compared to the consensus estimate of $36.31 billion. During the same quarter in the prior year, the business posted $4.63 earnings per share. Phillips 66’s revenue for the quarter was down 10.3% on a year-over-year basis. On average, research analysts expect that Phillips 66 will post 6.41 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Barclays dropped their price objective on Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. Scotiabank cut their price objective on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Bank of America assumed coverage on Phillips 66 in a report on Thursday, October 17th. They set a “buy” rating and a $156.00 target price for the company. Mizuho cut their price target on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Finally, Piper Sandler downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $147.93.

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.