Spirit of America Management Corp NY Has $8.54 Million Position in Phillips 66 (NYSE:PSX)

Spirit of America Management Corp NY lowered its stake in shares of Phillips 66 (NYSE:PSX) by 9.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,936 shares of the oil and gas company’s stock after selling 7,850 shares during the quarter. Phillips 66 comprises approximately 1.7% of Spirit of America Management Corp NY’s investment portfolio, making the stock its 13th biggest position. Spirit of America Management Corp NY’s holdings in Phillips 66 were worth $8,537,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in PSX. nVerses Capital LLC acquired a new stake in Phillips 66 during the third quarter worth approximately $26,000. Stephens Consulting LLC grew its position in Phillips 66 by 83.5% during the fourth quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company’s stock worth $28,000 after buying an additional 111 shares in the last quarter. Values First Advisors Inc. acquired a new stake in shares of Phillips 66 in the 3rd quarter valued at $30,000. Webster Bank N. A. boosted its holdings in shares of Phillips 66 by 48.4% in the 4th quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 88 shares in the last quarter. Finally, Crews Bank & Trust acquired a new stake in shares of Phillips 66 in the 4th quarter valued at $32,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on PSX. Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price on the stock in a report on Friday, January 3rd. Bank of America began coverage on Phillips 66 in a report on Thursday, October 17th. They issued a “buy” rating and a $156.00 target price on the stock. Scotiabank reduced their target price 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. Barclays reduced their target price on Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Finally, UBS Group dropped their price target on Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $148.00.

Phillips 66 Stock Up 4.8 %

Shares of NYSE:PSX opened at $123.58 on Wednesday. The firm has a market cap of $51.04 billion, a P/E ratio of 25.02, a P/E/G ratio of 3.89 and a beta of 1.37. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. Phillips 66 has a 12-month low of $108.90 and a 12-month high of $174.08. The business has a fifty day simple moving average of $120.23 and a 200 day simple moving average of $128.25.

Phillips 66 (NYSE:PSX) last announced its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($1.38). Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. During the same period in the prior year, the business earned $3.09 EPS. Analysts predict that Phillips 66 will post 7.57 earnings per share for the current year.

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.