Burney Co. Sells 13,003 Shares of Phillips 66 (NYSE:PSX)

Burney Co. reduced its holdings in shares of Phillips 66 (NYSE:PSX) by 41.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,009 shares of the oil and gas company’s stock after selling 13,003 shares during the period. Burney Co.’s holdings in Phillips 66 were worth $2,052,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in PSX. Mizuho Securities USA LLC grew its position 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 buying an additional 2,467,316 shares during the period. ING Groep NV boosted its stake in Phillips 66 by 123.2% during the third quarter. ING Groep NV now owns 1,182,980 shares of the oil and gas company’s stock worth $155,503,000 after acquiring an additional 653,032 shares in the last quarter. Bank of Montreal Can boosted its stake in Phillips 66 by 63.4% during the third quarter. Bank of Montreal Can now owns 1,633,876 shares of the oil and gas company’s stock worth $214,120,000 after acquiring an additional 633,970 shares in the last quarter. Mizuho Markets Americas LLC acquired a new stake in Phillips 66 in the third quarter worth $70,983,000. Finally, Canada Pension Plan Investment Board increased its stake in Phillips 66 by 574.0% in the second quarter. Canada Pension Plan Investment Board now owns 443,044 shares of the oil and gas company’s stock valued at $62,545,000 after purchasing an additional 377,314 shares in the last quarter. 76.93% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PSX has been the topic of a number of research analyst reports. JPMorgan Chase & Co. cut their price objective on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 2nd. Barclays cut their price target on Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a report on Monday. Piper Sandler downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Wolfe Research upgraded Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price on the stock in a report on Friday, January 3rd. Finally, Scotiabank decreased their price target on shares of 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. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $147.93.

Phillips 66 Trading Up 1.5 %

NYSE:PSX opened at $119.04 on Thursday. Phillips 66 has a 52 week low of $108.90 and a 52 week high of $174.08. The firm has a 50-day moving average price of $122.91 and a two-hundred day moving average price of $130.03. 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 firm has a market cap of $49.16 billion, a price-to-earnings ratio of 15.28, a price-to-earnings-growth ratio of 3.17 and a beta of 1.38.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results 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 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 the consensus estimate of $36.31 billion. During the same period last year, the business posted $4.63 earnings per share. Phillips 66’s revenue was down 10.3% on a year-over-year basis. On average, equities analysts expect that Phillips 66 will post 7.22 earnings per share for the current fiscal year.

About Phillips 66

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.