Barry Investment Advisors LLC trimmed its stake in Phillips 66 (NYSE:PSX – Free Report) by 5.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,474 shares of the oil and gas company’s stock after selling 473 shares during the period. Barry Investment Advisors LLC’s holdings in Phillips 66 were worth $965,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of PSX. Mizuho Securities USA LLC increased its holdings in 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 purchasing an additional 2,467,316 shares during the period. ING Groep NV boosted its position in 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 valued at $155,503,000 after acquiring an additional 653,032 shares during the last quarter. Bank of Montreal Can boosted its position in 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 valued at $214,120,000 after acquiring an additional 633,970 shares during the last quarter. Mizuho Markets Americas LLC bought a new position in shares of Phillips 66 during the 3rd quarter worth about $70,983,000. Finally, Assenagon Asset Management S.A. boosted its position in shares of Phillips 66 by 73.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 732,556 shares of the oil and gas company’s stock worth $96,294,000 after purchasing an additional 309,507 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of equities analysts have recently issued reports on PSX shares. Scotiabank cut their price objective on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Bank of America began 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 dropped their price target on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Barclays decreased their price objective on shares of Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a research note on Wednesday, October 2nd. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $147.93.
Phillips 66 Stock Down 1.6 %
Phillips 66 stock opened at $121.13 on Wednesday. Phillips 66 has a 1-year low of $108.90 and a 1-year high of $174.08. The firm has a market capitalization of $50.02 billion, a price-to-earnings ratio of 15.55, a P/E/G ratio of 3.78 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. The firm has a 50 day simple moving average of $121.46 and a 200 day simple moving average of $128.94.
Phillips 66 (NYSE:PSX – Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, beating 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 business had revenue of $36.16 billion during the quarter, compared to analyst estimates of $36.31 billion. During the same period in the previous year, the business earned $4.63 EPS. Phillips 66’s revenue was down 10.3% compared to the same quarter last year. On average, 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.
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