Independent Wealth Network Inc. Buys 280 Shares of Phillips 66 (NYSE:PSX)

Independent Wealth Network Inc. boosted its stake in shares of Phillips 66 (NYSE:PSX) by 16.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,937 shares of the oil and gas company’s stock after acquiring an additional 280 shares during the period. Independent Wealth Network Inc.’s holdings in Phillips 66 were worth $221,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Evergreen Capital Management LLC lifted its stake in Phillips 66 by 4.1% during the second quarter. Evergreen Capital Management LLC now owns 4,496 shares of the oil and gas company’s stock worth $635,000 after purchasing an additional 179 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of Phillips 66 by 55.5% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 81,954 shares of the oil and gas company’s stock worth $11,569,000 after buying an additional 29,260 shares in the last quarter. Sfmg LLC boosted its stake in Phillips 66 by 12.9% in the second quarter. Sfmg LLC now owns 1,605 shares of the oil and gas company’s stock valued at $227,000 after buying an additional 184 shares in the last quarter. Insigneo Advisory Services LLC grew its position in Phillips 66 by 13.3% in the second quarter. Insigneo Advisory Services LLC now owns 3,088 shares of the oil and gas company’s stock valued at $407,000 after acquiring an additional 363 shares during the last quarter. Finally, AQR Capital Management LLC lifted its holdings in shares of Phillips 66 by 6.4% in the second quarter. AQR Capital Management LLC now owns 372,992 shares of the oil and gas company’s stock worth $52,099,000 after acquiring an additional 22,531 shares during the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $122.62 on Friday. The firm has a market capitalization of $50.64 billion, a P/E ratio of 15.74, a P/E/G ratio of 3.84 and a beta of 1.38. The firm’s 50-day moving average price is $121.95 and its 200-day moving average price is $129.24. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. Phillips 66 has a 1-year low of $108.90 and a 1-year high of $174.08.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.41. The business had revenue of $36.16 billion for the quarter, compared to the consensus estimate of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The firm’s revenue for the quarter was down 10.3% on a year-over-year basis. During the same period in the prior year, the business earned $4.63 EPS. Equities research analysts anticipate that Phillips 66 will post 6.41 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on PSX shares. UBS Group decreased their price target on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Wells Fargo & Company dropped their price target on Phillips 66 from $167.00 to $161.00 and set an “overweight” rating for the company in a research note on Monday, December 9th. Scotiabank reduced 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. Mizuho dropped their target price 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. Finally, Wolfe Research raised shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target for the company in a research note on Friday, January 3rd. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Phillips 66 presently has an average rating of “Moderate Buy” and a consensus 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.