20,194 Shares in Phillips 66 (NYSE:PSX) Purchased by Strategic Financial Concepts LLC

Strategic Financial Concepts LLC acquired a new position in shares of Phillips 66 (NYSE:PSX) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 20,194 shares of the oil and gas company’s stock, valued at approximately $2,301,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Van ECK Associates Corp lifted its position in Phillips 66 by 263.3% during the third quarter. Van ECK Associates Corp now owns 83,278 shares of the oil and gas company’s stock valued at $10,753,000 after purchasing an additional 60,355 shares during the period. Everence Capital Management Inc. bought a new position in Phillips 66 in the fourth quarter worth approximately $3,033,000. Flavin Financial Services Inc. bought a new stake in shares of Phillips 66 during the 4th quarter valued at $1,190,000. Donoghue Forlines LLC bought a new stake in shares of Phillips 66 during the 4th quarter valued at $1,438,000. Finally, Mizuho Securities USA LLC raised its position in shares of Phillips 66 by 7,549.0% during the 3rd quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock valued at $328,625,000 after purchasing an additional 2,467,316 shares during the period. Institutional investors own 76.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on PSX shares. Barclays cut their target price on shares of Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. UBS Group dropped their price target on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Piper Sandler cut shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Wells Fargo & Company lifted their price objective on shares of Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Finally, StockNews.com lowered shares of Phillips 66 from a “hold” rating to a “sell” rating in a report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $148.00.

Phillips 66 Trading Up 2.9 %

Shares of PSX opened at $123.74 on Tuesday. 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 12-month low of $108.90 and a 12-month high of $174.08. The firm has a 50-day moving average price of $119.29 and a 200 day moving average price of $127.79. The firm has a market capitalization of $51.10 billion, a P/E ratio of 25.05, a P/E/G ratio of 5.64 and a beta of 1.37.

Phillips 66 (NYSE:PSX) last announced its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of $1.23 by ($1.38). Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. During the same quarter in the previous year, the business posted $3.09 EPS. Sell-side analysts forecast that Phillips 66 will post 7.14 EPS for the current year.

Phillips 66 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.