Meyer Handelman Co. Sells 863 Shares of Phillips 66 (NYSE:PSX)

Meyer Handelman Co. cut its stake in shares of Phillips 66 (NYSE:PSX) by 2.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 38,609 shares of the oil and gas company’s stock after selling 863 shares during the period. Meyer Handelman Co.’s holdings in Phillips 66 were worth $4,399,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. nVerses Capital LLC purchased a new position in Phillips 66 during the third quarter valued at approximately $26,000. Values First Advisors Inc. purchased a new position in shares of Phillips 66 during the 3rd quarter valued at $30,000. Point72 Hong Kong Ltd bought a new position in shares of Phillips 66 in the third quarter worth $40,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Phillips 66 in the second quarter worth $51,000. Finally, Hoese & Co LLP boosted its stake in Phillips 66 by 33.1% during the third quarter. Hoese & Co LLP now owns 402 shares of the oil and gas company’s stock valued at $53,000 after buying an additional 100 shares during the period. 76.93% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on PSX. 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 research note on Friday, January 3rd. UBS Group decreased their price objective on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Barclays dropped their target price on shares of Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating for the company in a research report on Monday. Wells Fargo & Company decreased their price target on shares of Phillips 66 from $167.00 to $161.00 and set an “overweight” rating on the stock in a report on Monday, December 9th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a report on Wednesday, October 2nd. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Phillips 66 has a consensus rating of “Moderate Buy” and a consensus price target of $147.93.

Phillips 66 Stock Up 0.9 %

Shares of Phillips 66 stock opened at $117.03 on Wednesday. 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 has a 52-week low of $108.90 and a 52-week high of $174.08. The company’s 50 day moving average price is $122.91 and its 200-day moving average price is $130.03. The stock has a market capitalization of $48.33 billion, a price-to-earnings ratio of 15.02, a P/E/G ratio of 4.06 and a beta of 1.38.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.41. The business had revenue of $36.16 billion for the quarter, compared to analyst estimates of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The company’s revenue was down 10.3% on a year-over-year basis. During the same quarter last year, the firm earned $4.63 EPS. Equities research analysts forecast that Phillips 66 will post 7.56 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.