Busey Bank Lowers Position in Phillips 66 (NYSE:PSX)

Busey Bank trimmed its position in shares of Phillips 66 (NYSE:PSX) by 3.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,623 shares of the oil and gas company’s stock after selling 219 shares during the quarter. Busey Bank’s holdings in Phillips 66 were worth $755,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in PSX. nVerses Capital LLC acquired a new position in shares of Phillips 66 in the third quarter worth about $26,000. Values First Advisors Inc. acquired a new position in Phillips 66 in the 3rd quarter worth about $30,000. Webster Bank N. A. boosted its position in Phillips 66 by 48.4% during the fourth quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 88 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in Phillips 66 in the third quarter valued at approximately $40,000. Finally, Sugar Maple Asset Management LLC purchased a new stake in shares of Phillips 66 in the fourth quarter valued at approximately $47,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PSX has been the subject of a number of research analyst reports. Scotiabank reduced 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 research report on Thursday, October 10th. UBS Group decreased 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 note on Monday, November 4th. Wells Fargo & Company cut their price objective on Phillips 66 from $167.00 to $161.00 and set an “overweight” rating for the company in a research note on Monday, December 9th. Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target on the stock in a research note on Friday, January 3rd. Finally, Mizuho reduced their price objective on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Phillips 66 presently has an average rating of “Moderate Buy” and an average price target of $147.93.

Phillips 66 Stock Performance

NYSE:PSX opened at $120.71 on Friday. The company’s 50-day moving average is $121.08 and its two-hundred day moving average is $128.77. The firm has a market capitalization of $49.85 billion, a price-to-earnings ratio of 15.50, a PEG ratio of 4.03 and a beta of 1.38. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. Phillips 66 has a 1-year low of $108.90 and a 1-year high of $174.08.

Phillips 66 (NYSE:PSX) last posted its 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 company had revenue of $36.16 billion during the quarter, compared to analysts’ expectations of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The firm’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter last year, the firm earned $4.63 earnings per share. Analysts forecast that Phillips 66 will post 6.27 EPS for the current 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.