Kingsview Wealth Management LLC Has $4.65 Million Position in Phillips 66 (NYSE:PSX)

Kingsview Wealth Management LLC grew its position in Phillips 66 (NYSE:PSX) by 0.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 40,795 shares of the oil and gas company’s stock after acquiring an additional 281 shares during the period. Kingsview Wealth Management LLC’s holdings in Phillips 66 were worth $4,648,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. nVerses Capital LLC bought a new position in shares of Phillips 66 in the third quarter valued at approximately $26,000. Stephens Consulting LLC lifted its holdings in Phillips 66 by 83.5% during the 4th quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company’s stock worth $28,000 after buying an additional 111 shares in the last quarter. Values First Advisors Inc. acquired a new position in Phillips 66 during the 3rd quarter worth $30,000. Webster Bank N. A. lifted its holdings in Phillips 66 by 48.4% during the 4th quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock worth $31,000 after buying an additional 88 shares in the last quarter. Finally, YANKCOM Partnership acquired a new position in Phillips 66 during the 4th quarter worth $31,000. Institutional investors own 76.93% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on PSX. StockNews.com downgraded Phillips 66 from a “hold” rating to a “sell” rating in a report on Wednesday. Wells Fargo & Company upped their price objective on Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Mizuho reduced their price objective on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Piper Sandler downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Finally, Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective on the stock in a report on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Phillips 66 presently has an average rating of “Moderate Buy” and a consensus target price of $148.00.

Phillips 66 Price Performance

PSX opened at $120.45 on Friday. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. Phillips 66 has a 12 month low of $108.90 and a 12 month high of $174.08. The company has a fifty day simple moving average of $119.29 and a 200 day simple moving average of $127.93. The stock has a market cap of $49.74 billion, a P/E ratio of 24.38, a P/E/G ratio of 5.64 and a beta of 1.37.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data 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 prior year, the firm posted $3.09 earnings per share. On average, research analysts expect that Phillips 66 will post 7.14 EPS for the current year.

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.