Phillips 66 (NYSE:PSX) Shares Bought by CX Institutional

CX Institutional boosted its stake in shares of Phillips 66 (NYSE:PSX) by 7.9% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 3,173 shares of the oil and gas company’s stock after acquiring an additional 233 shares during the period. CX Institutional’s holdings in Phillips 66 were worth $362,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in PSX. Mizuho Securities USA LLC grew its holdings in shares of Phillips 66 by 7,549.0% during the third quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock worth $328,625,000 after buying an additional 2,467,316 shares in the last quarter. ING Groep NV grew its holdings in shares of Phillips 66 by 123.2% during the third quarter. ING Groep NV now owns 1,182,980 shares of the oil and gas company’s stock worth $155,503,000 after buying an additional 653,032 shares in the last quarter. Bank of Montreal Can grew its holdings in shares of Phillips 66 by 63.4% during the third quarter. Bank of Montreal Can now owns 1,633,876 shares of the oil and gas company’s stock worth $214,120,000 after buying an additional 633,970 shares in the last quarter. Mizuho Markets Americas LLC purchased a new stake in shares of Phillips 66 in the third quarter valued at about $70,983,000. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Phillips 66 by 73.2% in the third quarter. Assenagon Asset Management S.A. now owns 732,556 shares of the oil and gas company’s stock valued at $96,294,000 after purchasing an additional 309,507 shares during the period. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Mizuho dropped their price objective 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. Bank of America assumed coverage on shares of Phillips 66 in a report on Thursday, October 17th. They issued a “buy” rating and a $156.00 price objective for the company. Wells Fargo & Company dropped their price objective on shares of Phillips 66 from $167.00 to $161.00 and set an “overweight” rating for the company in a report on Monday, December 9th. Scotiabank dropped their price objective on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Finally, Wolfe Research raised shares of 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. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $147.93.

Phillips 66 Stock Down 0.6 %

Shares of PSX opened at $121.82 on Monday. The stock has a market capitalization of $50.31 billion, a PE ratio of 15.64, a P/E/G 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. 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 company’s 50-day simple moving average is $121.63 and its 200-day simple moving average is $129.07.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, topping 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 net margin of 2.24% and a return on equity of 13.12%. The business’s quarterly revenue was down 10.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.63 earnings per share. Analysts forecast that Phillips 66 will post 6.41 earnings per share 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.