Counterweight Ventures LLC Boosts Holdings in Phillips 66 (NYSE:PSX)

Counterweight Ventures LLC increased its position in Phillips 66 (NYSE:PSX) by 1.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,550 shares of the oil and gas company’s stock after purchasing an additional 183 shares during the quarter. Counterweight Ventures LLC’s holdings in Phillips 66 were worth $1,316,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in PSX. Van ECK Associates Corp grew its position in shares of Phillips 66 by 263.3% during the third quarter. Van ECK Associates Corp now owns 83,278 shares of the oil and gas company’s stock worth $10,753,000 after buying an additional 60,355 shares in the last quarter. Everence Capital Management Inc. bought a new position in shares of Phillips 66 during the fourth quarter worth about $3,033,000. Donoghue Forlines LLC acquired a new position in Phillips 66 in the fourth quarter worth about $1,438,000. Flavin Financial Services Inc. bought a new stake in Phillips 66 in the fourth quarter valued at about $1,190,000. Finally, Mizuho Securities USA LLC raised its stake in Phillips 66 by 7,549.0% during 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 buying an additional 2,467,316 shares in the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

Phillips 66 Stock Down 0.3 %

Shares of NYSE:PSX opened at $120.45 on Friday. Phillips 66 has a 52 week low of $108.90 and a 52 week high of $174.08. The company has a market capitalization of $49.74 billion, a PE ratio of 24.38, a PEG ratio of 5.64 and a beta of 1.37. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. The company has a 50 day moving average price of $119.29 and a two-hundred day moving average price of $127.93.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($1.38). Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. During the same period in the prior year, the company earned $3.09 earnings per share. Analysts forecast that Phillips 66 will post 7.14 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Piper Sandler lowered shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Wolfe Research upgraded shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective on the stock in a research note on Friday, January 3rd. Bank of America assumed coverage on Phillips 66 in a research note on Thursday, October 17th. They issued a “buy” rating and a $156.00 target price for the company. Mizuho dropped their price target on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a research report on Monday, December 16th. Finally, UBS Group lowered their price target on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a research report on Monday, November 4th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $148.00.

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.