Beacon Financial Group Sells 2,758 Shares of Phillips 66 (NYSE:PSX)

Beacon Financial Group trimmed its holdings in shares of Phillips 66 (NYSE:PSX) by 7.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 34,779 shares of the oil and gas company’s stock after selling 2,758 shares during the quarter. Beacon Financial Group’s holdings in Phillips 66 were worth $3,962,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Exchange Traded Concepts LLC boosted its holdings in shares of Phillips 66 by 22.7% in the 3rd quarter. Exchange Traded Concepts LLC now owns 5,483 shares of the oil and gas company’s stock worth $721,000 after buying an additional 1,014 shares during the last quarter. Armstrong Advisory Group Inc. increased its holdings in Phillips 66 by 10.4% during the third quarter. Armstrong Advisory Group Inc. now owns 1,303 shares of the oil and gas company’s stock worth $171,000 after buying an additional 123 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its position in Phillips 66 by 1,075.7% in the third quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 15,684 shares of the oil and gas company’s stock worth $2,062,000 after acquiring an additional 14,350 shares during the period. Procyon Advisors LLC boosted its stake in Phillips 66 by 2.6% in the third quarter. Procyon Advisors LLC now owns 16,638 shares of the oil and gas company’s stock valued at $2,187,000 after acquiring an additional 425 shares during the last quarter. Finally, ORG Wealth Partners LLC bought a new position in shares of Phillips 66 during the 3rd quarter valued at approximately $75,000. 76.93% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PSX has been the topic of several research analyst reports. Wells Fargo & Company upped their price objective on Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. UBS Group decreased their price objective on Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a report on Monday, November 4th. StockNews.com cut Phillips 66 from a “hold” rating to a “sell” rating in a research note on Wednesday, February 5th. Mizuho cut their target price 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. Finally, Wolfe Research raised shares of 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. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, Phillips 66 has an average rating of “Moderate Buy” and a consensus target price of $148.00.

Phillips 66 Stock Performance

NYSE:PSX opened at $129.74 on Wednesday. The stock has a market cap of $53.58 billion, a P/E ratio of 26.26, a PEG ratio of 5.64 and a beta of 1.37. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The business’s 50-day moving average price is $119.04 and its two-hundred day moving average price is $127.66. Phillips 66 has a twelve month low of $108.90 and a twelve month high of $174.08.

Phillips 66 (NYSE:PSX) last announced its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share 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 company earned $3.09 earnings per share. As a group, equities analysts predict that Phillips 66 will post 7.14 EPS for the current fiscal 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.