Hoese & Co LLP Sells 100 Shares of Phillips 66 (NYSE:PSX)

Hoese & Co LLP decreased its position in Phillips 66 (NYSE:PSX) by 24.9% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 302 shares of the oil and gas company’s stock after selling 100 shares during the period. Hoese & Co LLP’s holdings in Phillips 66 were worth $34,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Legal & General Group Plc grew its holdings in Phillips 66 by 0.5% in the 2nd quarter. Legal & General Group Plc now owns 3,699,370 shares of the oil and gas company’s stock worth $522,240,000 after acquiring an additional 18,238 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Phillips 66 by 0.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,901,887 shares of the oil and gas company’s stock worth $381,453,000 after purchasing an additional 16,941 shares during the period. Mizuho Securities USA LLC grew its stake in shares of Phillips 66 by 7,549.0% in 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 purchasing an additional 2,467,316 shares during the last quarter. Bank of Montreal Can increased 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 period. Finally, ING Groep NV raised its position 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. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Stock Performance

Shares of PSX stock opened at $120.64 on Tuesday. 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 market capitalization of $49.82 billion, a price-to-earnings ratio of 15.49, a price-to-earnings-growth ratio of 3.76 and a beta of 1.38. Phillips 66 has a one year low of $108.90 and a one year high of $174.08. The company’s 50-day moving average is $122.47 and its 200 day moving average is $129.59.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results 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 net margin of 2.24% and a return on equity of 13.12%. The company had revenue of $36.16 billion during the quarter, compared to the consensus estimate of $36.31 billion. During the same quarter last year, the firm earned $4.63 earnings per share. The firm’s quarterly revenue was down 10.3% compared to the same quarter last year. Sell-side analysts expect that Phillips 66 will post 6.51 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PSX has been the topic of a number of recent analyst reports. Mizuho cut their price objective 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. Piper Sandler downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. UBS Group dropped their target price 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. Barclays reduced their price target on shares of Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Finally, 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 report on Wednesday, October 2nd. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock presently has an average 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.