ZWJ Investment Counsel Inc. Acquires 8,801 Shares of Phillips 66 (NYSE:PSX)

ZWJ Investment Counsel Inc. boosted its stake in shares of Phillips 66 (NYSE:PSX) by 3.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 256,768 shares of the oil and gas company’s stock after acquiring an additional 8,801 shares during the quarter. ZWJ Investment Counsel Inc.’s holdings in Phillips 66 were worth $29,254,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. nVerses Capital LLC acquired a new position in shares of Phillips 66 during the third quarter worth approximately $26,000. Values First Advisors Inc. acquired a new position in Phillips 66 during the 3rd quarter worth $30,000. Point72 Hong Kong Ltd bought a new position in Phillips 66 in the 3rd quarter valued at $40,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Phillips 66 in the 2nd quarter valued at $51,000. Finally, Hoese & Co LLP raised its position in shares of Phillips 66 by 33.1% during the third quarter. Hoese & Co LLP now owns 402 shares of the oil and gas company’s stock worth $53,000 after acquiring an additional 100 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PSX. Scotiabank decreased their price target 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. Wolfe Research raised shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price on the stock in a research note on Friday, January 3rd. Mizuho dropped their price target on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. JPMorgan Chase & Co. cut their price objective on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a report on Wednesday, October 2nd. Finally, UBS Group lowered their target price on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a report on Monday, November 4th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $147.93.

Phillips 66 Stock Up 0.8 %

Shares of Phillips 66 stock opened at $120.64 on Tuesday. Phillips 66 has a 1 year low of $108.90 and a 1 year high of $174.08. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The company has a market capitalization of $49.82 billion, a P/E ratio of 15.49, a price-to-earnings-growth ratio of 3.76 and a beta of 1.38. The business has a 50-day moving average of $122.47 and a two-hundred day moving average of $129.59.

Phillips 66 (NYSE:PSX) last announced its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, topping the consensus estimate of $1.63 by $0.41. The firm had revenue of $36.16 billion for the quarter, compared to the consensus estimate of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The business’s quarterly revenue was down 10.3% on a year-over-year basis. During the same period last year, the company posted $4.63 EPS. As a group, equities analysts predict that Phillips 66 will post 6.51 EPS 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.