Richard C. Young & CO. LTD. Sells 5,665 Shares of Phillips 66 (NYSE:PSX)

Richard C. Young & CO. LTD. lowered its holdings in shares of Phillips 66 (NYSE:PSX) by 5.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 103,717 shares of the oil and gas company’s stock after selling 5,665 shares during the period. Richard C. Young & CO. LTD.’s holdings in Phillips 66 were worth $11,816,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of PSX. Mizuho Securities USA LLC boosted its holdings in shares of Phillips 66 by 7,549.0% during the 3rd 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. ING Groep NV raised its position in 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 valued at $155,503,000 after purchasing an additional 653,032 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of Phillips 66 by 63.4% during the third quarter. Bank of Montreal Can now owns 1,633,876 shares of the oil and gas company’s stock valued at $214,120,000 after purchasing an additional 633,970 shares in the last quarter. Mizuho Markets Americas LLC bought a new stake in shares of Phillips 66 during the third quarter worth about $70,983,000. Finally, Assenagon Asset Management S.A. increased its stake in shares of Phillips 66 by 73.2% in the third quarter. Assenagon Asset Management S.A. now owns 732,556 shares of the oil and gas company’s stock valued at $96,294,000 after buying an additional 309,507 shares during the period. 76.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PSX has been the topic of a number of research reports. Wells Fargo & Company boosted their target price on shares of Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. UBS Group reduced their price objective on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Piper Sandler lowered Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Bank of America started coverage on Phillips 66 in a research report on Thursday, October 17th. They set a “buy” rating and a $156.00 price objective for the company. Finally, Wolfe Research raised shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price for the company in a research report on Friday, January 3rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $148.00.

Phillips 66 Stock Performance

Shares of Phillips 66 stock 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 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 moving average price of $119.29 and a 200-day moving average price of $127.93. The company has a market cap of $49.74 billion, a PE ratio of 24.38, a price-to-earnings-growth ratio of 5.64 and a beta of 1.37.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 quarter in the previous year, the company earned $3.09 EPS. Equities analysts anticipate that Phillips 66 will post 7.14 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.