Empowered Funds LLC Raises Holdings in Phillips 66 (NYSE:PSX)

Empowered Funds LLC grew its position in shares of Phillips 66 (NYSE:PSX) by 10.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 168,514 shares of the oil and gas company’s stock after purchasing an additional 15,462 shares during the quarter. Empowered Funds LLC’s holdings in Phillips 66 were worth $19,199,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PSX. CWM LLC grew its holdings in shares of Phillips 66 by 23.0% during the third quarter. CWM LLC now owns 28,618 shares of the oil and gas company’s stock worth $3,762,000 after buying an additional 5,350 shares during the last quarter. Valeo Financial Advisors LLC boosted its holdings in Phillips 66 by 12.8% in the 3rd quarter. Valeo Financial Advisors LLC now owns 14,527 shares of the oil and gas company’s stock valued at $1,910,000 after purchasing an additional 1,647 shares in the last quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH boosted its holdings in Phillips 66 by 8.3% in the 3rd quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 2,623 shares of the oil and gas company’s stock valued at $345,000 after purchasing an additional 202 shares in the last quarter. Gateway Investment Advisers LLC boosted its holdings in Phillips 66 by 36.5% in the 3rd quarter. Gateway Investment Advisers LLC now owns 13,771 shares of the oil and gas company’s stock valued at $1,810,000 after purchasing an additional 3,679 shares in the last quarter. Finally, Carnegie Investment Counsel boosted its holdings in Phillips 66 by 1.8% in the 3rd quarter. Carnegie Investment Counsel now owns 22,788 shares of the oil and gas company’s stock valued at $2,995,000 after purchasing an additional 398 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Wall Street Analysts Forecast Growth

PSX has been the topic of a number of analyst reports. Piper Sandler lowered Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. 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. Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective on the stock in a report on Friday, January 3rd. Mizuho lowered their price objective on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Finally, UBS Group reduced their price target 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. One 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. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $148.00.

Phillips 66 Trading Down 0.3 %

Shares of PSX opened at $120.45 on Friday. The stock has a fifty day moving average of $119.29 and a two-hundred day moving average of $127.93. 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 $49.74 billion, a PE ratio of 24.38, a price-to-earnings-growth ratio of 5.64 and a beta of 1.37. Phillips 66 has a fifty-two week low of $108.90 and a fifty-two week high of $174.08.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of $1.23 by ($1.38). Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same period last year, the company earned $3.09 earnings per share. As a group, analysts forecast that Phillips 66 will post 7.14 EPS for the current year.

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.