New Wave Wealth Advisors LLC Lowers Stake in Phillips 66 (NYSE:PSX)

New Wave Wealth Advisors LLC lessened its stake in Phillips 66 (NYSE:PSX) by 7.0% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,626 shares of the oil and gas company’s stock after selling 123 shares during the quarter. New Wave Wealth Advisors LLC’s holdings in Phillips 66 were worth $185,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. lifted its holdings 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 buying an additional 16,941 shares in the last quarter. Mizuho Securities USA LLC lifted its holdings in shares of 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 in the last quarter. Bank of Montreal Can lifted its holdings in shares of Phillips 66 by 63.4% in the third quarter. Bank of Montreal Can now owns 1,633,876 shares of the oil and gas company’s stock worth $214,120,000 after buying an additional 633,970 shares in the last quarter. ING Groep NV lifted its holdings in shares of Phillips 66 by 123.2% in the third quarter. ING Groep NV now owns 1,182,980 shares of the oil and gas company’s stock worth $155,503,000 after buying an additional 653,032 shares in the last quarter. Finally, National Pension Service lifted its holdings in shares of Phillips 66 by 6.8% in the third quarter. National Pension Service now owns 1,001,734 shares of the oil and gas company’s stock worth $131,678,000 after buying an additional 63,349 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Trading Down 1.2 %

NYSE PSX opened at $120.71 on Friday. The company’s 50-day moving average price is $120.86 and its 200-day moving average price is $128.72. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The stock has a market cap of $49.85 billion, a PE ratio of 15.50, a PEG ratio of 4.03 and a beta of 1.38. Phillips 66 has a 12 month low of $108.90 and a 12 month high of $174.08.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Friday, January 31st. The oil and gas company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($1.38). Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. During the same quarter in the prior year, the firm earned $3.09 earnings per share. Equities research analysts forecast that Phillips 66 will post 6.27 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Barclays lowered their target price 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. Wells Fargo & Company decreased 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 note on Monday, December 9th. Wolfe Research raised shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target on the stock in a research note on Friday, January 3rd. Piper Sandler downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Finally, Bank of America started coverage on shares of Phillips 66 in a research note on Thursday, October 17th. They set a “buy” rating and a $156.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently 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.