Phillips 66 (NYSE:PSX) Shares Bought by Drive Wealth Management LLC

Drive Wealth Management LLC raised its position in Phillips 66 (NYSE:PSX) by 2.6% in the fourth quarter, Holdings Channel reports. The fund owned 7,157 shares of the oil and gas company’s stock after buying an additional 181 shares during the period. Drive Wealth Management LLC’s holdings in Phillips 66 were worth $815,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. nVerses Capital LLC purchased a new stake in shares of Phillips 66 in the third quarter valued at about $26,000. Values First Advisors Inc. acquired a new position in Phillips 66 in the third quarter valued at $30,000. Point72 Hong Kong Ltd purchased a new position in shares of Phillips 66 in the 3rd quarter worth about $40,000. Sugar Maple Asset Management LLC acquired a new position in shares of Phillips 66 during the fourth quarter worth $47,000. Finally, Strategic Investment Solutions Inc. IL bought a new position in Phillips 66 during the 2nd quarter worth approximately $51,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Trading Down 0.6 %

NYSE:PSX opened at $121.82 on Monday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. Phillips 66 has a one year low of $108.90 and a one year high of $174.08. The company has a market cap of $50.31 billion, a PE ratio of 15.64, a PEG ratio of 3.78 and a beta of 1.38. The firm has a 50-day moving average of $121.63 and a 200-day moving average of $129.07.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.41. The company had revenue of $36.16 billion during the quarter, compared to the consensus estimate of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. Phillips 66’s revenue was down 10.3% on a year-over-year basis. During the same period last year, the business posted $4.63 earnings per share. As a group, equities research analysts expect that Phillips 66 will post 6.41 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PSX. Bank of America initiated coverage on Phillips 66 in a research report on Thursday, October 17th. They issued a “buy” rating and a $156.00 target price for the company. Scotiabank cut their price objective on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. JPMorgan Chase & Co. decreased their price objective on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a report on Wednesday, October 2nd. Wells Fargo & Company reduced their target price on shares of Phillips 66 from $167.00 to $161.00 and set an “overweight” rating on the stock in a research note on Monday, December 9th. Finally, 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 note on Monday, January 13th. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target 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.