Phillips 66 (NYSE:PSX) Shares Purchased by Veracity Capital LLC

Veracity Capital LLC lifted its holdings in Phillips 66 (NYSE:PSX) by 8.5% in the 4th quarter, Holdings Channel.com reports. The fund owned 6,235 shares of the oil and gas company’s stock after buying an additional 490 shares during the quarter. Veracity Capital LLC’s holdings in Phillips 66 were worth $710,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Red Door Wealth Management LLC lifted its stake in shares of Phillips 66 by 16.1% during the fourth quarter. Red Door Wealth Management LLC now owns 2,279 shares of the oil and gas company’s stock worth $260,000 after purchasing an additional 316 shares in the last quarter. Donoghue Forlines LLC acquired a new position in Phillips 66 during the 4th quarter worth approximately $1,438,000. Endeavor Private Wealth Inc. acquired a new position in Phillips 66 during the 4th quarter worth approximately $112,000. Raleigh Capital Management Inc. boosted its holdings in Phillips 66 by 222.8% in the 4th quarter. Raleigh Capital Management Inc. now owns 523 shares of the oil and gas company’s stock worth $60,000 after acquiring an additional 361 shares during the period. Finally, Mutual Advisors LLC raised its stake in shares of Phillips 66 by 15.8% during the fourth quarter. Mutual Advisors LLC now owns 16,852 shares of the oil and gas company’s stock valued at $2,016,000 after purchasing an additional 2,301 shares during the period. 76.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on PSX shares. Wells Fargo & Company decreased 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. Piper Sandler cut shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Mizuho dropped their target price on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a research report on Monday, December 16th. JPMorgan Chase & Co. reduced their price target on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a report on Wednesday, October 2nd. Finally, UBS Group cut their target price on Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $147.93.

Phillips 66 Trading Up 3.4 %

Phillips 66 stock opened at $122.62 on Friday. Phillips 66 has a 1 year low of $108.90 and a 1 year high of $174.08. The firm’s 50-day moving average is $121.95 and its 200-day moving average is $129.24. 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 cap of $50.64 billion, a P/E ratio of 15.74, a PEG ratio of 3.78 and a beta of 1.38.

Phillips 66 (NYSE:PSX) last issued its 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 firm had revenue of $36.16 billion for the quarter, compared to analysts’ expectations of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. Phillips 66’s revenue was down 10.3% on a year-over-year basis. During the same quarter last year, the company posted $4.63 earnings per share. On average, equities analysts expect that Phillips 66 will post 6.41 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.