Armstrong Advisory Group Inc. Purchases 180 Shares of Phillips 66 (NYSE:PSX)

Armstrong Advisory Group Inc. raised its holdings in shares of Phillips 66 (NYSE:PSX) by 13.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,483 shares of the oil and gas company’s stock after purchasing an additional 180 shares during the period. Armstrong Advisory Group Inc.’s holdings in Phillips 66 were worth $169,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of PSX. Legal & General Group Plc lifted its holdings in Phillips 66 by 0.5% in the second quarter. Legal & General Group Plc now owns 3,699,370 shares of the oil and gas company’s stock valued at $522,240,000 after buying an additional 18,238 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Phillips 66 by 0.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,901,887 shares of the oil and gas company’s stock valued at $381,453,000 after acquiring an additional 16,941 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its position in shares of Phillips 66 by 2.9% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,813,579 shares of the oil and gas company’s stock valued at $397,193,000 after acquiring an additional 79,301 shares during the last quarter. Mizuho Securities USA LLC lifted its stake in shares of Phillips 66 by 7,549.0% in 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 purchasing an additional 2,467,316 shares during the period. Finally, Bank of Montreal Can boosted its position in shares of Phillips 66 by 63.4% in the 3rd quarter. Bank of Montreal Can now owns 1,633,876 shares of the oil and gas company’s stock worth $214,120,000 after purchasing an additional 633,970 shares during the last quarter. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Up 0.6 %

PSX stock opened at $119.68 on Friday. The business has a 50-day moving average of $122.73 and a 200-day moving average of $129.95. Phillips 66 has a fifty-two week low of $108.90 and a fifty-two week high of $174.08. The stock has a market capitalization of $49.43 billion, a P/E ratio of 15.36, a P/E/G ratio of 3.17 and a beta of 1.38. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.41. The company had revenue of $36.16 billion during the quarter, compared to analysts’ expectations of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The business’s quarterly revenue was down 10.3% on a year-over-year basis. During the same period last year, the business earned $4.63 EPS. On average, sell-side analysts anticipate that Phillips 66 will post 7.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on PSX shares. Mizuho cut their target price on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a research note on Monday, December 16th. Barclays lowered their price target on Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating for the company in a research note on Monday. 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. Scotiabank lowered their target price on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Finally, Bank of America began coverage on shares of Phillips 66 in a research report 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 eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $147.93.

Phillips 66 Company 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.