Phillips 66 (NYSE:PSX) Short Interest Update

Phillips 66 (NYSE:PSX) was the recipient of a significant drop in short interest during the month of December. As of December 31st, there was short interest totalling 6,370,000 shares, a drop of 14.0% from the December 15th total of 7,410,000 shares. Based on an average daily trading volume, of 2,610,000 shares, the short-interest ratio is presently 2.4 days. Currently, 1.6% of the company’s shares are sold short.

Wall Street Analyst Weigh In

PSX has been the subject of several recent analyst reports. Mizuho lowered their target price on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. JPMorgan Chase & Co. lowered their price objective on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. UBS Group reduced their target price on Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Scotiabank decreased their target price on 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, Piper Sandler lowered Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $147.93.

Institutional Investors Weigh In On Phillips 66

Large investors have recently made changes to their positions in the stock. Legal & General Group Plc grew its holdings in Phillips 66 by 0.5% during the second quarter. Legal & General Group Plc now owns 3,699,370 shares of the oil and gas company’s stock worth $522,240,000 after purchasing an additional 18,238 shares during the period. Charles Schwab Investment Management Inc. lifted its position 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 valued at $381,453,000 after buying an additional 16,941 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its stake 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 worth $397,193,000 after acquiring an additional 79,301 shares during the period. Mizuho Securities USA LLC increased 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 worth $328,625,000 after acquiring an additional 2,467,316 shares during the last quarter. Finally, Bank of Montreal Can raised its stake in 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 valued at $214,120,000 after acquiring an additional 633,970 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Stock Up 0.8 %

Phillips 66 stock traded up $1.01 during mid-day trading on Friday, reaching $120.64. The company’s stock had a trading volume of 2,722,245 shares, compared to its average volume of 2,658,786. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. Phillips 66 has a 12 month low of $108.90 and a 12 month high of $174.08. The business’s 50 day simple moving average is $122.47 and its 200 day simple moving average is $129.74. The company has a market capitalization of $49.82 billion, a price-to-earnings ratio of 15.49, a price-to-earnings-growth ratio of 3.17 and a beta of 1.38.

Phillips 66 (NYSE:PSX) last announced 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. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The company had revenue of $36.16 billion during the quarter, compared to analysts’ expectations of $36.31 billion. During the same quarter last year, the company earned $4.63 EPS. Phillips 66’s revenue for the quarter was down 10.3% compared to the same quarter last year. As a group, research analysts anticipate that Phillips 66 will post 7.22 earnings per share for the current year.

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.