Godsey & Gibb Inc. Reduces Stock Position in Phillips 66 (NYSE:PSX)

Godsey & Gibb Inc. trimmed its holdings in shares of Phillips 66 (NYSE:PSX) by 45.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 650 shares of the oil and gas company’s stock after selling 548 shares during the quarter. Godsey & Gibb Inc.’s holdings in Phillips 66 were worth $74,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Van ECK Associates Corp increased its stake in Phillips 66 by 263.3% during the third quarter. Van ECK Associates Corp now owns 83,278 shares of the oil and gas company’s stock worth $10,753,000 after acquiring an additional 60,355 shares during the last quarter. Everence Capital Management Inc. purchased a new position in shares of Phillips 66 in the 4th quarter worth approximately $3,033,000. Mizuho Securities USA LLC increased its position in shares of Phillips 66 by 7,549.0% during the 3rd 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 last quarter. Nwam LLC purchased a new stake in Phillips 66 during the 3rd quarter valued at $498,000. Finally, Principal Financial Group Inc. lifted its position in Phillips 66 by 2.8% in the third quarter. Principal Financial Group Inc. now owns 530,807 shares of the oil and gas company’s stock worth $69,775,000 after buying an additional 14,209 shares during the last quarter. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PSX has been the topic of a number of analyst reports. 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. Piper Sandler cut shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Wells Fargo & Company reduced their price objective on shares of Phillips 66 from $167.00 to $161.00 and set an “overweight” rating on the stock in a research report on Monday, December 9th. Wolfe Research raised shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective for the company in a research note on Friday, January 3rd. Finally, Mizuho cut their target price on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a research note on Monday, December 16th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $147.93.

Phillips 66 Price Performance

PSX opened at $119.04 on Thursday. The company has a market capitalization of $49.16 billion, a price-to-earnings ratio of 15.28, a PEG ratio of 3.17 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. Phillips 66 has a 12-month low of $108.90 and a 12-month high of $174.08. The business’s fifty day simple moving average is $122.91 and its 200-day simple moving average is $130.03.

Phillips 66 (NYSE:PSX) last issued 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 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 firm’s quarterly revenue was down 10.3% on a year-over-year basis. During the same period in the prior year, the business earned $4.63 EPS. On average, equities research analysts anticipate that Phillips 66 will post 7.22 earnings per share for the current fiscal 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.