Phillips 66 (NYSE:PSX) Position Boosted by Bennett Associates Wealth Management

Bennett Associates Wealth Management grew its holdings in shares of Phillips 66 (NYSE:PSX) by 10.9% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 4,300 shares of the oil and gas company’s stock after acquiring an additional 421 shares during the quarter. Phillips 66 comprises approximately 0.4% of Bennett Associates Wealth Management’s holdings, making the stock its 25th largest position. Bennett Associates Wealth Management’s holdings in Phillips 66 were worth $490,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Advisory Alpha LLC increased its stake in Phillips 66 by 4.8% in the 2nd quarter. Advisory Alpha LLC now owns 1,648 shares of the oil and gas company’s stock worth $233,000 after purchasing an additional 76 shares in the last quarter. Krane Funds Advisors LLC raised its position in Phillips 66 by 3.6% during the third quarter. Krane Funds Advisors LLC now owns 2,350 shares of the oil and gas company’s stock valued at $309,000 after buying an additional 82 shares during the period. Richwood Investment Advisors LLC lifted its position in shares of Phillips 66 by 1.9% in the third quarter. Richwood Investment Advisors LLC now owns 4,580 shares of the oil and gas company’s stock worth $602,000 after purchasing an additional 85 shares in the last quarter. Cobblestone Capital Advisors LLC NY increased its stake in 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 valued at $2,307,000 after buying an additional 89 shares during the period. Finally, Western Financial Corp CA increased its stake 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 worth $773,000 after acquiring an additional 91 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Trading Up 0.6 %

Phillips 66 stock opened at $119.68 on Friday. The stock has a market cap of $49.43 billion, a price-to-earnings ratio of 15.36, a price-to-earnings-growth ratio of 3.17 and a beta of 1.38. The company has a quick ratio of 0.83, a current ratio of 1.21 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 business has a 50 day moving average price of $122.73 and a two-hundred day moving average price of $129.95.

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. 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 the consensus estimate of $36.31 billion. During the same quarter in the previous year, the company earned $4.63 earnings per share. The business’s revenue was down 10.3% compared to the same quarter last year. As a group, equities analysts forecast that Phillips 66 will post 7.22 EPS for the current year.

Analysts Set New Price Targets

PSX has been the subject of several research reports. Wells Fargo & Company reduced 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. Piper Sandler lowered shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Bank of America assumed coverage on Phillips 66 in a report on Thursday, October 17th. They set a “buy” rating and a $156.00 target price on the stock. Scotiabank lowered their price objective 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. Finally, UBS Group cut their price objective on Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.