Custom Index Systems LLC Decreases Stake in Phillips 66 (NYSE:PSX)

Custom Index Systems LLC trimmed its holdings in shares of Phillips 66 (NYSE:PSX) by 7.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,463 shares of the oil and gas company’s stock after selling 281 shares during the quarter. Custom Index Systems LLC’s holdings in Phillips 66 were worth $395,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Czech National Bank boosted its stake in shares of Phillips 66 by 5.5% during the 3rd quarter. Czech National Bank now owns 85,266 shares of the oil and gas company’s stock valued at $11,208,000 after buying an additional 4,477 shares during the last quarter. Duncan Williams Asset Management LLC raised its holdings in Phillips 66 by 16.1% in the third quarter. Duncan Williams Asset Management LLC now owns 2,322 shares of the oil and gas company’s stock valued at $305,000 after acquiring an additional 322 shares in the last quarter. Biltmore Wealth Management LLC boosted its stake in Phillips 66 by 5.1% during the 3rd quarter. Biltmore Wealth Management LLC now owns 3,568 shares of the oil and gas company’s stock valued at $469,000 after acquiring an additional 172 shares during the last quarter. Eldred Rock Partners LLC grew its holdings in Phillips 66 by 4.2% during the 3rd quarter. Eldred Rock Partners LLC now owns 85,718 shares of the oil and gas company’s stock worth $11,268,000 after acquiring an additional 3,462 shares in the last quarter. Finally, Mirador Capital Partners LP increased its position in shares of Phillips 66 by 2.9% in the 3rd quarter. Mirador Capital Partners LP now owns 47,549 shares of the oil and gas company’s stock worth $6,250,000 after purchasing an additional 1,325 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PSX. Bank of America assumed coverage on shares of Phillips 66 in a research report on Thursday, October 17th. They set a “buy” rating and a $156.00 price target on the stock. Scotiabank reduced their target price on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. UBS Group lowered their price target on Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a report on Monday, November 4th. Piper Sandler cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Finally, Wells Fargo & Company lowered their target price on shares of Phillips 66 from $167.00 to $161.00 and set an “overweight” rating for the company in a research note on Monday, December 9th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $147.93.

Phillips 66 Trading Down 3.0 %

Phillips 66 stock opened at $117.24 on Friday. Phillips 66 has a 52-week low of $108.90 and a 52-week high of $174.08. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $48.42 billion, a price-to-earnings ratio of 15.05, a PEG ratio of 4.03 and a beta of 1.38. The firm has a 50-day moving average price of $120.86 and a two-hundred day moving average price of $128.72.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($1.38). Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. During the same period last year, the company earned $3.09 EPS. Sell-side analysts expect that Phillips 66 will post 6.27 earnings per share 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.