Dynamic Advisor Solutions LLC Decreases Stock Position in Phillips 66 (NYSE:PSX)

Dynamic Advisor Solutions LLC trimmed its holdings in Phillips 66 (NYSE:PSX) by 2.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 12,158 shares of the oil and gas company’s stock after selling 277 shares during the period. Dynamic Advisor Solutions LLC’s holdings in Phillips 66 were worth $1,385,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Van ECK Associates Corp increased its stake in shares of Phillips 66 by 263.3% during the 3rd quarter. Van ECK Associates Corp now owns 83,278 shares of the oil and gas company’s stock worth $10,753,000 after purchasing an additional 60,355 shares in the last quarter. Everence Capital Management Inc. purchased a new position in Phillips 66 during the fourth quarter worth $3,033,000. Donoghue Forlines LLC acquired a new position in shares of Phillips 66 in the fourth quarter worth $1,438,000. Mizuho Securities USA LLC lifted its position in shares of Phillips 66 by 7,549.0% in the third quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock valued at $328,625,000 after acquiring an additional 2,467,316 shares in the last quarter. Finally, Annex Advisory Services LLC increased its position in Phillips 66 by 25.7% during the 4th quarter. Annex Advisory Services LLC now owns 162,922 shares of the oil and gas company’s stock worth $18,562,000 after purchasing an additional 33,290 shares in the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Analysts Set New Price Targets

PSX has been the topic of a number of recent research reports. Mizuho reduced their target price 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. Bank of America began coverage on shares of Phillips 66 in a research report on Thursday, October 17th. They set a “buy” rating and a $156.00 target price on the stock. Scotiabank lowered their target price on shares of 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. reduced their price target on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 2nd. Finally, Wells Fargo & Company lowered their price objective on Phillips 66 from $167.00 to $161.00 and set an “overweight” rating for the company in a research report on Monday, December 9th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $147.93.

Phillips 66 Trading Down 0.6 %

NYSE PSX opened at $121.82 on Monday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. Phillips 66 has a one year low of $108.90 and a one year high of $174.08. The company’s 50 day moving average price is $121.63 and its 200 day moving average price is $129.07. The firm has a market capitalization of $50.31 billion, a price-to-earnings ratio of 15.64, a PEG ratio of 3.78 and a beta of 1.38.

Phillips 66 (NYSE:PSX) last announced 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. The firm had revenue of $36.16 billion during the quarter, compared to analysts’ expectations of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The firm’s revenue was down 10.3% on a year-over-year basis. During the same period in the prior year, the company earned $4.63 EPS. On average, sell-side analysts predict that Phillips 66 will post 6.41 EPS 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.