Phillips 66 (NYSE:PSX) Stock Position Lifted by Parsons Capital Management Inc. RI

Parsons Capital Management Inc. RI increased its position in Phillips 66 (NYSE:PSX) by 33.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,511 shares of the oil and gas company’s stock after buying an additional 9,412 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in Phillips 66 were worth $4,274,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Webster Bank N. A. lifted its holdings in shares of Phillips 66 by 48.4% in the fourth quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 88 shares during the period. Pacer Advisors Inc. lifted its stake in Phillips 66 by 580.5% in the 4th quarter. Pacer Advisors Inc. now owns 211,124 shares of the oil and gas company’s stock worth $24,053,000 after acquiring an additional 180,097 shares in the last quarter. Cornerstone Wealth Group LLC lifted its stake in Phillips 66 by 2.5% in the 4th quarter. Cornerstone Wealth Group LLC now owns 4,872 shares of the oil and gas company’s stock worth $555,000 after acquiring an additional 120 shares in the last quarter. Blue Trust Inc. lifted its stake in Phillips 66 by 28.9% in the 4th quarter. Blue Trust Inc. now owns 8,984 shares of the oil and gas company’s stock worth $1,024,000 after acquiring an additional 2,016 shares in the last quarter. Finally, PFG Investments LLC increased its position in Phillips 66 by 5.2% in the 4th quarter. PFG Investments LLC now owns 15,304 shares of the oil and gas company’s stock worth $1,744,000 after purchasing an additional 763 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on PSX shares. Barclays lowered their price objective on Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Piper Sandler lowered Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. JPMorgan Chase & Co. lowered their target price on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a report on Wednesday, October 2nd. Wolfe Research upgraded Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective for the company in a research report on Friday, January 3rd. Finally, Mizuho reduced their price objective on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a research report on Monday, December 16th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Phillips 66 presently has an average rating of “Moderate Buy” and a consensus target price of $147.93.

Phillips 66 Stock Performance

Shares of Phillips 66 stock opened at $122.43 on Monday. The firm has a fifty day moving average of $121.63 and a two-hundred day moving average of $129.04. The stock has a market capitalization of $50.56 billion, a price-to-earnings ratio of 15.71, a PEG ratio of 3.78 and a beta of 1.38. Phillips 66 has a 52 week low of $108.90 and a 52 week high of $174.08. 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 (NYSE:PSX) last released its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.41. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The business had revenue of $36.16 billion during the quarter, compared to analysts’ expectations of $36.31 billion. During the same quarter in the prior year, the company earned $4.63 EPS. The firm’s quarterly revenue was down 10.3% on a year-over-year basis. As a group, equities research analysts predict that Phillips 66 will post 6.41 EPS 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.