Oak Thistle LLC Purchases New Stake in Phillips 66 (NYSE:PSX)

Oak Thistle LLC acquired a new position in shares of Phillips 66 (NYSE:PSX) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 7,036 shares of the oil and gas company’s stock, valued at approximately $802,000.

Several other institutional investors and hedge funds also recently bought and sold shares of PSX. Legal & General Group Plc grew its position in Phillips 66 by 0.5% during the second quarter. Legal & General Group Plc now owns 3,699,370 shares of the oil and gas company’s stock valued at $522,240,000 after purchasing an additional 18,238 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Phillips 66 by 0.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,901,887 shares of the oil and gas company’s stock valued at $381,453,000 after buying an additional 16,941 shares during the period. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in shares of Phillips 66 by 2.9% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,813,579 shares of the oil and gas company’s stock valued at $397,193,000 after acquiring an additional 79,301 shares in the last quarter. Mizuho Securities USA LLC increased its stake in shares of 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 worth $328,625,000 after acquiring an additional 2,467,316 shares during the last quarter. Finally, Bank of Montreal Can raised 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 acquiring an additional 633,970 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Price Performance

NYSE PSX opened at $119.04 on Thursday. The stock has a 50-day simple moving average of $122.91 and a 200 day simple moving average of $130.03. Phillips 66 has a twelve month low of $108.90 and a twelve month high of $174.08. The stock has a market capitalization of $49.16 billion, a PE ratio of 15.28, a P/E/G ratio of 4.06 and a beta of 1.38. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.41. The company had revenue of $36.16 billion during the quarter, compared to analyst estimates of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The company’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same period in the previous year, the company earned $4.63 earnings per share. Research analysts anticipate that Phillips 66 will post 7.56 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on PSX shares. Scotiabank lowered their target price on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Piper Sandler downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Wells Fargo & Company cut 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 target price for the company in a research report on Friday, January 3rd. Finally, Mizuho dropped their price target on shares of 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 investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Phillips 66 has an average rating of “Moderate Buy” and a consensus price target of $147.93.

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.