Carnegie Investment Counsel Has $2.44 Million Position in Phillips 66 (NYSE:PSX)

Carnegie Investment Counsel cut its position in shares of Phillips 66 (NYSE:PSX) by 6.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,374 shares of the oil and gas company’s stock after selling 1,414 shares during the period. Carnegie Investment Counsel’s holdings in Phillips 66 were worth $2,435,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Mizuho Securities USA LLC increased its position 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 worth $328,625,000 after buying an additional 2,467,316 shares during the last quarter. ING Groep NV lifted its holdings in Phillips 66 by 123.2% during the 3rd 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 lifted its holdings in Phillips 66 by 63.4% during the 3rd 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 during the last quarter. Mizuho Markets Americas LLC bought a new position in Phillips 66 during the third quarter worth $70,983,000. Finally, Canada Pension Plan Investment Board increased its holdings in shares of Phillips 66 by 574.0% in the second quarter. Canada Pension Plan Investment Board now owns 443,044 shares of the oil and gas company’s stock valued at $62,545,000 after purchasing an additional 377,314 shares during the last quarter. 76.93% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PSX. 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. UBS Group reduced their price target on Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a research note on Monday, November 4th. JPMorgan Chase & Co. lowered their price objective on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 2nd. Piper Sandler cut shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Finally, 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 report on Friday, January 3rd. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Phillips 66 has an average rating of “Moderate Buy” and a consensus price target of $147.93.

Phillips 66 Stock Up 0.8 %

NYSE PSX opened at $120.64 on Friday. The business has a fifty day moving average price of $122.59 and a two-hundred day moving average price of $129.88. The stock has a market capitalization of $49.82 billion, a PE ratio of 15.49, a PEG ratio of 3.17 and a beta of 1.38. Phillips 66 has a fifty-two week low of $108.90 and a fifty-two week high of $174.08. 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 released its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 13.12% and a net margin of 2.24%. Phillips 66’s revenue was down 10.3% compared to the same quarter last year. During the same period last year, the firm posted $4.63 earnings per share. Equities analysts expect that Phillips 66 will post 7.22 earnings per share for the current fiscal year.

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.