First Citizens Bank & Trust Co. Raises Stake in Phillips 66 (NYSE:PSX)

First Citizens Bank & Trust Co. increased its stake in Phillips 66 (NYSE:PSX) by 16.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,613 shares of the oil and gas company’s stock after buying an additional 522 shares during the period. First Citizens Bank & Trust Co.’s holdings in Phillips 66 were worth $412,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its holdings in shares of Phillips 66 by 0.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,901,887 shares of the oil and gas company’s stock valued at $381,453,000 after purchasing an additional 16,941 shares in the last quarter. Mizuho Securities USA LLC raised its stake in Phillips 66 by 7,549.0% in the third quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock worth $328,625,000 after buying an additional 2,467,316 shares in the last quarter. Bank of Montreal Can lifted its holdings in Phillips 66 by 63.4% during the third quarter. Bank of Montreal Can now owns 1,633,876 shares of the oil and gas company’s stock worth $214,120,000 after buying an additional 633,970 shares during the period. ING Groep NV boosted its position in Phillips 66 by 123.2% during the 3rd quarter. ING Groep NV now owns 1,182,980 shares of the oil and gas company’s stock valued at $155,503,000 after acquiring an additional 653,032 shares in the last quarter. Finally, National Pension Service boosted its position in Phillips 66 by 6.8% during the 3rd quarter. National Pension Service now owns 1,001,734 shares of the oil and gas company’s stock valued at $131,678,000 after acquiring an additional 63,349 shares in the last quarter. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Trading Up 1.0 %

NYSE PSX opened at $123.03 on Tuesday. The company has a fifty day moving average of $121.63 and a 200 day moving average of $129.04. The company has a market capitalization of $50.81 billion, a PE ratio of 15.79, a P/E/G ratio of 3.78 and a beta of 1.38. 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 1 year low of $108.90 and a 1 year high of $174.08.

Phillips 66 (NYSE:PSX) last issued its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 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 the consensus estimate of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The company’s revenue was down 10.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.63 earnings per share. Research analysts forecast that Phillips 66 will post 6.41 earnings per share for the current year.

Analysts Set New Price Targets

PSX has been the subject of a number of analyst reports. Scotiabank decreased their price objective on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Mizuho decreased their price target on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a research report on Monday, December 16th. Barclays cut 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 report on Monday, January 13th. Wells Fargo & Company lowered 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. Finally, UBS Group reduced their price target 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 research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average 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.