Moss Adams Wealth Advisors LLC Has $222,000 Stake in Phillips 66 (NYSE:PSX)

Moss Adams Wealth Advisors LLC cut its holdings in shares of Phillips 66 (NYSE:PSX) by 13.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,946 shares of the oil and gas company’s stock after selling 297 shares during the period. Moss Adams Wealth Advisors LLC’s holdings in Phillips 66 were worth $222,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of PSX. XTX Topco Ltd bought a new stake in shares of Phillips 66 in the 2nd quarter valued at $534,000. Brighton Jones LLC raised its position in Phillips 66 by 5.1% during the second quarter. Brighton Jones LLC now owns 4,607 shares of the oil and gas company’s stock worth $650,000 after acquiring an additional 223 shares in the last quarter. Ieq Capital LLC raised its stake in Phillips 66 by 8.7% in the second quarter. Ieq Capital LLC now owns 15,137 shares of the oil and gas company’s stock valued at $2,137,000 after buying an additional 1,215 shares during the period. Benjamin F. Edwards & Company Inc. raised its holdings in Phillips 66 by 64.7% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 28,872 shares of the oil and gas company’s stock valued at $4,076,000 after acquiring an additional 11,346 shares during the period. Finally, Canada Pension Plan Investment Board boosted its holdings in shares of Phillips 66 by 574.0% during the second quarter. Canada Pension Plan Investment Board now owns 443,044 shares of the oil and gas company’s stock worth $62,545,000 after acquiring an additional 377,314 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Stock Performance

Shares of PSX stock opened at $120.64 on Monday. The business’s 50-day moving average price is $122.47 and its 200-day moving average price is $129.66. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. Phillips 66 has a 12 month low of $108.90 and a 12 month high of $174.08. The firm has a market capitalization of $49.82 billion, a price-to-earnings ratio of 15.49, a PEG ratio of 3.17 and a beta of 1.38.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.41. The firm had revenue of $36.16 billion during 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% compared to the same quarter last year. During the same quarter last year, the business earned $4.63 EPS. Equities research analysts forecast that Phillips 66 will post 7.22 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Wolfe Research upgraded Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target for the company in a research note on Friday, January 3rd. JPMorgan Chase & Co. lowered their target price on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a report on Wednesday, October 2nd. Piper Sandler downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. 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. Finally, Bank of America initiated coverage on shares of Phillips 66 in a research report on Thursday, October 17th. They set a “buy” rating and a $156.00 price objective for the company. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $147.93.

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.