Raleigh Capital Management Inc. Acquires 361 Shares of Phillips 66 (NYSE:PSX)

Raleigh Capital Management Inc. boosted its stake in shares of Phillips 66 (NYSE:PSX) by 222.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 523 shares of the oil and gas company’s stock after buying an additional 361 shares during the quarter. Raleigh Capital Management Inc.’s holdings in Phillips 66 were worth $60,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in PSX. Van ECK Associates Corp increased its stake in shares of Phillips 66 by 263.3% during the 3rd quarter. Van ECK Associates Corp now owns 83,278 shares of the oil and gas company’s stock worth $10,753,000 after purchasing an additional 60,355 shares during the last quarter. Everence Capital Management Inc. bought a new position in Phillips 66 during the fourth quarter valued at $3,033,000. Mizuho Securities USA LLC increased its position in 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 buying an additional 2,467,316 shares during the last quarter. Annex Advisory Services LLC raised its stake in shares of Phillips 66 by 25.7% in the fourth quarter. Annex Advisory Services LLC now owns 162,922 shares of the oil and gas company’s stock valued at $18,562,000 after buying an additional 33,290 shares during the period. Finally, Nwam LLC purchased a new position in shares of Phillips 66 during the 3rd quarter valued at $498,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Phillips 66 Price Performance

Phillips 66 stock opened at $122.62 on Friday. The stock has a market cap of $50.64 billion, a price-to-earnings ratio of 15.74, a PEG ratio of 3.84 and a beta of 1.38. 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 $121.95 and a 200 day simple moving average of $129.24. 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 data 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 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%. Phillips 66’s revenue was down 10.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.63 earnings per share. On average, research analysts forecast that Phillips 66 will post 6.41 earnings per share for the current fiscal 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.