Phillips 66 (NYSE:PSX) Shares Sold by Stonegate Investment Group LLC

Stonegate Investment Group LLC cut its holdings in shares of Phillips 66 (NYSE:PSX) by 0.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 511,153 shares of the oil and gas company’s stock after selling 2,136 shares during the quarter. Phillips 66 comprises 1.6% of Stonegate Investment Group LLC’s investment portfolio, making the stock its 24th biggest position. Stonegate Investment Group LLC’s holdings in Phillips 66 were worth $58,236,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in PSX. Advisory Alpha LLC increased its position in shares of Phillips 66 by 4.8% during the second quarter. Advisory Alpha LLC now owns 1,648 shares of the oil and gas company’s stock valued at $233,000 after acquiring an additional 76 shares during the last quarter. Krane Funds Advisors LLC increased its holdings in Phillips 66 by 3.6% in the third quarter. Krane Funds Advisors LLC now owns 2,350 shares of the oil and gas company’s stock valued at $309,000 after buying an additional 82 shares during the last quarter. Richwood Investment Advisors LLC raised its holdings in Phillips 66 by 1.9% during the third quarter. Richwood Investment Advisors LLC now owns 4,580 shares of the oil and gas company’s stock worth $602,000 after purchasing an additional 85 shares in the last quarter. Webster Bank N. A. lifted its holdings in shares of Phillips 66 by 48.4% in the 4th quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 88 shares during the last quarter. Finally, Cobblestone Capital Advisors LLC NY grew its position in Phillips 66 by 0.5% during the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 17,548 shares of the oil and gas company’s stock worth $2,307,000 after purchasing an additional 89 shares during the last quarter. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Phillips 66 Stock Performance

Shares of PSX opened at $123.03 on Tuesday. Phillips 66 has a 52-week low of $108.90 and a 52-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 firm has a market cap of $50.81 billion, a price-to-earnings ratio of 15.79, a PEG ratio of 3.78 and a beta of 1.38. The business’s 50 day moving average is $121.63 and its two-hundred day moving average is $129.04.

Phillips 66 (NYSE:PSX) last issued its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.41. The business had revenue of $36.16 billion for the quarter, compared to analyst estimates of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The company’s revenue for the quarter was down 10.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.63 EPS. Analysts forecast that Phillips 66 will post 6.41 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on PSX shares. Mizuho cut their price target on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a report on Monday, December 16th. Bank of America began coverage on shares of Phillips 66 in a research report on Thursday, October 17th. They issued a “buy” rating and a $156.00 price target on the stock. Piper Sandler downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. JPMorgan Chase & Co. lowered their price objective on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. Finally, Barclays decreased their price target on shares of Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Five investment 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 presently has a consensus rating of “Moderate Buy” and an average target price 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.