Park Avenue Securities LLC Grows Stock Position in Phillips 66 (NYSE:PSX)

Park Avenue Securities LLC lifted its position in Phillips 66 (NYSE:PSX) by 8.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 47,774 shares of the oil and gas company’s stock after acquiring an additional 3,905 shares during the period. Park Avenue Securities LLC’s holdings in Phillips 66 were worth $5,443,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Van ECK Associates Corp boosted its stake in Phillips 66 by 263.3% during the 3rd quarter. Van ECK Associates Corp now owns 83,278 shares of the oil and gas company’s stock worth $10,753,000 after purchasing an additional 60,355 shares during the last quarter. Everence Capital Management Inc. purchased a new position in shares of Phillips 66 in the fourth quarter worth about $3,033,000. Mizuho Securities USA LLC boosted its position in Phillips 66 by 7,549.0% during the third quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock worth $328,625,000 after acquiring an additional 2,467,316 shares during the last quarter. Nwam LLC purchased a new stake in Phillips 66 during the 3rd quarter valued at about $498,000. Finally, Principal Financial Group Inc. raised its holdings in Phillips 66 by 2.8% in the 3rd quarter. Principal Financial Group Inc. now owns 530,807 shares of the oil and gas company’s stock valued at $69,775,000 after acquiring an additional 14,209 shares during the last quarter. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Phillips 66 Stock Up 1.5 %

Phillips 66 stock opened at $119.04 on Thursday. The company has a market capitalization of $49.16 billion, a PE ratio of 15.28, a price-to-earnings-growth ratio of 4.06 and a beta of 1.38. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. Phillips 66 has a fifty-two week low of $108.90 and a fifty-two week high of $174.08. The firm has a 50 day moving average price of $122.91 and a 200 day moving average price of $130.03.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.41. The business had revenue of $36.16 billion during the quarter, compared to analysts’ expectations of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The company’s revenue was down 10.3% on a year-over-year basis. During the same period in the previous year, the firm posted $4.63 earnings per share. Research analysts expect that Phillips 66 will post 7.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

PSX has been the topic of several recent research reports. Scotiabank lowered their target price on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Wells Fargo & Company lowered their price objective on Phillips 66 from $167.00 to $161.00 and set an “overweight” rating on the stock in a research note on Monday, December 9th. Mizuho cut their target price on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. JPMorgan Chase & Co. reduced their price target on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a report on Wednesday, October 2nd. Finally, UBS Group dropped their price objective on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a report on Monday, November 4th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $147.93.

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.