Phillips 66 (NYSE:PSX) Shares Acquired by Stablepoint Partners LLC

Stablepoint Partners LLC increased its position in shares of Phillips 66 (NYSE:PSX) by 1.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 43,739 shares of the oil and gas company’s stock after acquiring an additional 720 shares during the quarter. Stablepoint Partners LLC’s holdings in Phillips 66 were worth $4,983,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Van ECK Associates Corp boosted its holdings in Phillips 66 by 263.3% in the third quarter. Van ECK Associates Corp now owns 83,278 shares of the oil and gas company’s stock valued at $10,753,000 after purchasing an additional 60,355 shares in the last quarter. Everence Capital Management Inc. purchased a new stake in Phillips 66 in the fourth quarter valued at $3,033,000. Mizuho Securities USA LLC boosted its stake 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 valued at $328,625,000 after acquiring an additional 2,467,316 shares in the last quarter. Annex Advisory Services LLC grew its holdings in shares of Phillips 66 by 25.7% during the fourth quarter. Annex Advisory Services LLC now owns 162,922 shares of the oil and gas company’s stock worth $18,562,000 after purchasing an additional 33,290 shares during the last quarter. Finally, Nwam LLC acquired a new stake in shares of Phillips 66 during the third quarter worth about $498,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Analysts Set New Price Targets

PSX has been the subject of a number of research analyst reports. Wells Fargo & Company decreased their target price 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. JPMorgan Chase & Co. lowered their price target on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a report on Wednesday, October 2nd. Piper Sandler cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Mizuho dropped their target price on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Finally, Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target for the company in a report on Friday, January 3rd. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $147.93.

Phillips 66 Stock Performance

NYSE:PSX opened at $121.82 on Friday. Phillips 66 has a fifty-two week low of $108.90 and a fifty-two week high of $174.08. 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 stock has a market cap of $50.31 billion, a PE ratio of 15.64, a price-to-earnings-growth ratio of 3.78 and a beta of 1.38. The firm’s fifty day simple moving average is $121.63 and its 200-day simple moving average is $129.10.

Phillips 66 (NYSE:PSX) last released its quarterly 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 business had revenue of $36.16 billion during the quarter, compared to the consensus estimate of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The business’s revenue was down 10.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.63 EPS. Analysts expect that Phillips 66 will post 6.41 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.