Financial Advocates Investment Management Cuts Stock Position in Phillips 66 (NYSE:PSX)

Financial Advocates Investment Management decreased its holdings in shares of Phillips 66 (NYSE:PSX) by 5.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,180 shares of the oil and gas company’s stock after selling 626 shares during the period. Financial Advocates Investment Management’s holdings in Phillips 66 were worth $1,160,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in PSX. nVerses Capital LLC purchased a new position in Phillips 66 during the third quarter valued at $26,000. Values First Advisors Inc. purchased a new position in Phillips 66 in the 3rd quarter valued at about $30,000. Stephens Consulting LLC boosted its holdings in Phillips 66 by 83.5% in the 4th quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company’s stock worth $28,000 after buying an additional 111 shares during the last quarter. Webster Bank N. A. increased its stake in Phillips 66 by 48.4% during the 4th quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock worth $31,000 after buying an additional 88 shares in the last quarter. Finally, YANKCOM Partnership acquired a new position in shares of Phillips 66 during the fourth quarter valued at approximately $31,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Stock Down 0.3 %

Shares of NYSE:PSX opened at $120.45 on Friday. The business has a 50-day moving average price of $119.56 and a 200 day moving average price of $128.06. Phillips 66 has a 12-month low of $108.90 and a 12-month high of $174.08. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $49.74 billion, a price-to-earnings ratio of 24.38, a PEG ratio of 3.89 and a beta of 1.37.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($1.38). Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. During the same quarter in the previous year, the firm posted $3.09 EPS. Sell-side analysts expect that Phillips 66 will post 7.57 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PSX. Piper Sandler lowered Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Bank of America assumed coverage on shares of Phillips 66 in a report on Thursday, October 17th. They set a “buy” rating and a $156.00 target price for the company. StockNews.com downgraded shares of Phillips 66 from a “hold” rating to a “sell” rating in a research note on Wednesday. Wells Fargo & Company upped their price objective on shares of Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Finally, Wolfe Research raised shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price on the stock in a research note on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $148.00.

Phillips 66 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.