Hilltop National Bank Grows Stock Position in Phillips 66 (NYSE:PSX)

Hilltop National Bank raised its holdings in shares of Phillips 66 (NYSE:PSX) by 28.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 9,006 shares of the oil and gas company’s stock after purchasing an additional 1,968 shares during the period. Hilltop National Bank’s holdings in Phillips 66 were worth $1,026,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of PSX. Strategic Financial Concepts LLC acquired a new position in shares of Phillips 66 during the 2nd quarter worth approximately $26,000. nVerses Capital LLC purchased a new position in Phillips 66 during the third quarter worth $26,000. Values First Advisors Inc. acquired a new position in shares of Phillips 66 in the third quarter worth $30,000. Point72 Hong Kong Ltd purchased a new stake in shares of Phillips 66 in the third quarter valued at $40,000. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in shares of Phillips 66 during the second quarter valued at $51,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Trading Down 2.3 %

Shares of Phillips 66 stock traded down $2.62 during trading hours on Friday, reaching $113.63. The stock had a trading volume of 1,250,341 shares, compared to its average volume of 2,269,656. The firm has a market capitalization of $46.93 billion, a price-to-earnings ratio of 14.59, a P/E/G ratio of 4.06 and a beta of 1.38. Phillips 66 has a 1 year low of $108.90 and a 1 year high of $174.08. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The firm has a 50 day simple moving average of $123.22 and a two-hundred day simple moving average of $130.67.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, beating the consensus estimate of $1.63 by $0.41. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The firm had revenue of $36.16 billion for the quarter, compared to analyst estimates of $36.31 billion. During the same quarter last year, the firm posted $4.63 earnings per share. Phillips 66’s revenue for the quarter was down 10.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Phillips 66 will post 7.56 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. 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 research note on Friday, January 3rd. JPMorgan Chase & Co. cut their price objective on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. Mizuho reduced their price objective on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a research note on Monday, December 16th. Piper Sandler set a $144.00 target price on shares of Phillips 66 in a research note on Thursday, October 17th. Finally, Wells Fargo & Company cut their price target on Phillips 66 from $167.00 to $161.00 and set an “overweight” rating for the company in a report on Monday, December 9th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Phillips 66 presently has an average rating of “Moderate Buy” and an average target price of $148.57.

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.