Meyer Handelman Co. Has $4.40 Million Holdings in Phillips 66 (NYSE:PSX)

Meyer Handelman Co. decreased its holdings in Phillips 66 (NYSE:PSX) by 2.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 38,609 shares of the oil and gas company’s stock after selling 863 shares during the quarter. Meyer Handelman Co.’s holdings in Phillips 66 were worth $4,399,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Advisory Alpha LLC lifted its holdings in shares of Phillips 66 by 4.8% in the second quarter. Advisory Alpha LLC now owns 1,648 shares of the oil and gas company’s stock valued at $233,000 after purchasing an additional 76 shares in the last quarter. Krane Funds Advisors LLC lifted its stake in Phillips 66 by 3.6% during the 3rd quarter. Krane Funds Advisors LLC now owns 2,350 shares of the oil and gas company’s stock valued at $309,000 after acquiring an additional 82 shares in the last quarter. Richwood Investment Advisors LLC boosted its holdings in Phillips 66 by 1.9% during the 3rd quarter. Richwood Investment Advisors LLC now owns 4,580 shares of the oil and gas company’s stock worth $602,000 after acquiring an additional 85 shares during the last quarter. Cobblestone Capital Advisors LLC NY grew its stake in shares of Phillips 66 by 0.5% in the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 17,548 shares of the oil and gas company’s stock worth $2,307,000 after acquiring an additional 89 shares in the last quarter. Finally, Western Financial Corp CA raised its holdings in shares of Phillips 66 by 1.6% in the third quarter. Western Financial Corp CA now owns 5,882 shares of the oil and gas company’s stock valued at $773,000 after purchasing an additional 91 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Wall Street Analysts Forecast Growth

PSX has been the topic of several analyst reports. Wells Fargo & Company cut their price target on shares of Phillips 66 from $167.00 to $161.00 and set an “overweight” rating on the stock in a report on Monday, December 9th. UBS Group reduced their target price on Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a report on Monday, November 4th. Mizuho decreased their price target on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a research report on Monday, December 16th. Scotiabank cut their price objective on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Finally, 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. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, Phillips 66 has an average rating of “Moderate Buy” and a consensus target price of $147.93.

Phillips 66 Trading Up 0.9 %

Shares of Phillips 66 stock opened at $117.03 on Wednesday. The stock has a market capitalization of $48.33 billion, a P/E ratio of 15.02, a P/E/G ratio of 4.06 and a beta of 1.38. Phillips 66 has a 52-week low of $108.90 and a 52-week high of $174.08. 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 stock’s 50-day simple moving average is $122.91 and its 200 day simple moving average is $130.03.

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