Phillips 66 (NYSE:PSX) Short Interest Down 14.0% in December

Phillips 66 (NYSE:PSX) was the recipient of a significant decline in short interest during the month of December. As of December 31st, there was short interest totalling 6,370,000 shares, a decline of 14.0% from the December 15th total of 7,410,000 shares. Based on an average daily volume of 2,610,000 shares, the days-to-cover ratio is currently 2.4 days. Currently, 1.6% of the company’s stock are short sold.

Analyst Ratings Changes

Several research firms have recently weighed in on PSX. UBS Group decreased 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. Wells Fargo & Company reduced their price objective on Phillips 66 from $167.00 to $161.00 and set an “overweight” rating for the company in a research report on Monday, December 9th. Barclays reduced their price objective on Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating for the company in a research report on Monday. Scotiabank reduced their price objective on 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. Finally, Piper Sandler cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Phillips 66 has an average rating of “Moderate Buy” and an average price target of $147.93.

Hedge Funds Weigh In On Phillips 66

A number of hedge funds have recently made changes to their positions in the business. Legal & General Group Plc boosted its stake in shares of Phillips 66 by 0.5% in the second quarter. Legal & General Group Plc now owns 3,699,370 shares of the oil and gas company’s stock worth $522,240,000 after acquiring an additional 18,238 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Phillips 66 by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,901,887 shares of the oil and gas company’s stock worth $381,453,000 after acquiring an additional 16,941 shares during the period. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in Phillips 66 by 2.9% during the second 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 buying an additional 79,301 shares during the last quarter. Mizuho Securities USA LLC boosted its stake in Phillips 66 by 7,549.0% during 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 buying an additional 2,467,316 shares during the last quarter. Finally, Bank of Montreal Can boosted its stake 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 buying an additional 633,970 shares during the last quarter. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Performance

Shares of PSX opened at $119.68 on Friday. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The business has a 50-day simple moving average of $122.73 and a two-hundred day simple moving average of $129.95. The stock has a market cap of $49.43 billion, a price-to-earnings ratio of 15.36, a PEG ratio of 3.17 and a beta of 1.38. Phillips 66 has a 52 week low of $108.90 and a 52 week high of $174.08.

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 business 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 business’s quarterly revenue was down 10.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.63 earnings per share. On average, analysts expect that Phillips 66 will post 7.22 EPS 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.