1,867 Shares in Phillips 66 (NYSE:PSX) Purchased by Commonwealth Financial Services LLC

Commonwealth Financial Services LLC purchased a new stake in shares of Phillips 66 (NYSE:PSX) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 1,867 shares of the oil and gas company’s stock, valued at approximately $213,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PSX. Van ECK Associates Corp grew its stake in shares of Phillips 66 by 263.3% during the third quarter. Van ECK Associates Corp now owns 83,278 shares of the oil and gas company’s stock valued at $10,753,000 after buying an additional 60,355 shares during the last quarter. Everence Capital Management Inc. bought a new stake in shares of Phillips 66 during the fourth quarter worth $3,033,000. Donoghue Forlines LLC purchased a new stake in shares of Phillips 66 during the fourth quarter valued at $1,438,000. Mizuho Securities USA LLC grew its holdings in shares of 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 purchasing an additional 2,467,316 shares during the last quarter. Finally, Annex Advisory Services LLC increased its stake in Phillips 66 by 25.7% in the 4th quarter. Annex Advisory Services LLC now owns 162,922 shares of the oil and gas company’s stock worth $18,562,000 after buying an additional 33,290 shares during the period. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Stock Performance

PSX stock opened at $117.85 on Tuesday. Phillips 66 has a one year low of $108.90 and a one year high of $174.08. The firm has a market cap of $48.67 billion, a price-to-earnings ratio of 23.86, a PEG ratio of 3.89 and a beta of 1.37. 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 firm has a 50-day simple moving average of $120.54 and a two-hundred day simple moving average of $128.39.

Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($1.38). Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same quarter in the previous year, the firm posted $3.09 EPS. On average, equities analysts forecast that Phillips 66 will post 7.57 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. UBS Group dropped their target price on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Piper Sandler downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Bank of America initiated coverage on Phillips 66 in a research report on Thursday, October 17th. They set a “buy” rating and a $156.00 target price for the company. Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target on the stock in a research report on Friday, January 3rd. Finally, Wells Fargo & Company lifted their price objective on Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a report on Monday. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Phillips 66 has an average rating of “Moderate Buy” and a consensus price target of $148.00.

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.