Busey Bank Cuts Stock Position in Phillips 66 (NYSE:PSX)

Busey Bank lowered its holdings in Phillips 66 (NYSE:PSX) by 3.2% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,623 shares of the oil and gas company’s stock after selling 219 shares during the period. Busey Bank’s holdings in Phillips 66 were worth $755,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of PSX. nVerses Capital LLC acquired a new position in Phillips 66 during the 3rd quarter worth approximately $26,000. Values First Advisors Inc. purchased a new position in shares of Phillips 66 in the 3rd quarter valued at about $30,000. Webster Bank N. A. lifted its stake in Phillips 66 by 48.4% during 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. Point72 Hong Kong Ltd acquired a new position in Phillips 66 in the third quarter valued at approximately $40,000. Finally, Sugar Maple Asset Management LLC purchased a new position in Phillips 66 in the fourth quarter valued at approximately $47,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Barclays dropped their target price 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. Piper Sandler cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Scotiabank decreased their target price 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. Wells Fargo & Company cut their price target on Phillips 66 from $167.00 to $161.00 and set an “overweight” rating on the stock in a research report on Monday, December 9th. Finally, Wolfe Research raised shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price for the company in a report on Friday, January 3rd. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $147.93.

Phillips 66 Stock Down 1.2 %

Phillips 66 stock opened at $120.71 on Friday. The stock’s 50 day moving average price is $121.08 and its 200 day moving average price is $128.77. Phillips 66 has a 1-year low of $108.90 and a 1-year high of $174.08. The company has a market cap of $49.85 billion, a PE ratio of 15.50, a price-to-earnings-growth ratio of 4.03 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 (NYSE:PSX) last issued its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, topping the consensus estimate of $1.63 by $0.41. The company had revenue of $36.16 billion for the quarter, compared to analyst estimates of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The business’s revenue was down 10.3% on a year-over-year basis. During the same period in the previous year, the firm earned $4.63 EPS. On average, sell-side analysts predict that Phillips 66 will post 6.27 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.