Powers Advisory Group LLC Decreases Stake in Phillips 66 (NYSE:PSX)

Powers Advisory Group LLC reduced its holdings in shares of Phillips 66 (NYSE:PSX) by 11.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,679 shares of the oil and gas company’s stock after selling 349 shares during the quarter. Powers Advisory Group LLC’s holdings in Phillips 66 were worth $305,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. nVerses Capital LLC purchased a new stake in shares of Phillips 66 during the 3rd quarter valued at about $26,000. Values First Advisors Inc. bought a new position in Phillips 66 during the third quarter valued at approximately $30,000. Webster Bank N. A. boosted its holdings in Phillips 66 by 48.4% in the fourth quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 88 shares during the last quarter. Crews Bank & Trust purchased a new stake in Phillips 66 in the fourth quarter worth approximately $32,000. Finally, Point72 Hong Kong Ltd purchased a new stake in Phillips 66 during the 3rd quarter valued at $40,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Stock Performance

Shares of NYSE PSX opened at $120.71 on Friday. The firm’s fifty day moving average is $121.08 and its two-hundred day moving average is $128.77. Phillips 66 has a 52-week low of $108.90 and a 52-week high of $174.08. The company has a market cap of $49.85 billion, a P/E ratio of 15.50, a P/E/G ratio of 4.03 and a beta of 1.38. 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 (NYSE:PSX) last issued its earnings results 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%. As a group, analysts anticipate that Phillips 66 will post 6.27 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PSX. Wolfe Research upgraded Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target on the stock in a research note on Friday, January 3rd. Scotiabank dropped their target price on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Barclays lowered their price objective on shares of Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. UBS Group cut their target price on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Finally, Wells Fargo & Company reduced their target price on shares of Phillips 66 from $167.00 to $161.00 and set an “overweight” rating for the company in a report on Monday, December 9th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Phillips 66 currently has a consensus rating of “Moderate Buy” and an average target price of $147.93.

Phillips 66 Company 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.