Carnegie Investment Counsel Has $2.44 Million Stake in Phillips 66 (NYSE:PSX)

Carnegie Investment Counsel reduced its stake in shares of Phillips 66 (NYSE:PSX) by 6.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 21,374 shares of the oil and gas company’s stock after selling 1,414 shares during the period. Carnegie Investment Counsel’s holdings in Phillips 66 were worth $2,435,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PSX. nVerses Capital LLC bought a new stake in Phillips 66 during the third quarter valued at $26,000. Values First Advisors Inc. bought a new stake in shares of Phillips 66 during the 3rd quarter valued at about $30,000. Point72 Hong Kong Ltd acquired a new stake in Phillips 66 during the third quarter worth approximately $40,000. Strategic Investment Solutions Inc. IL bought a new stake in Phillips 66 in the second quarter worth approximately $51,000. Finally, Hoese & Co LLP lifted its stake in Phillips 66 by 33.1% in the third quarter. Hoese & Co LLP now owns 402 shares of the oil and gas company’s stock valued at $53,000 after buying an additional 100 shares during the period. 76.93% of the stock is owned by institutional investors and hedge funds.

Phillips 66 Stock Performance

Shares of Phillips 66 stock opened at $120.64 on Friday. The company has a market cap of $49.82 billion, a PE ratio of 15.49, 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 52 week low of $108.90 and a 52 week high of $174.08. The business has a 50 day moving average price of $122.59 and a 200-day moving average price of $129.88.

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 the consensus estimate of $1.63 by $0.41. The business had revenue of $36.16 billion for 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 business’s revenue was down 10.3% on a year-over-year basis. During the same period last year, the business earned $4.63 EPS. Equities analysts anticipate that Phillips 66 will post 7.22 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently commented on PSX shares. Scotiabank reduced their price objective on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Wolfe Research upgraded 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 report on Friday, January 3rd. UBS Group dropped their price objective 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. Barclays reduced their target price on 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. Finally, Piper Sandler downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Five 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $147.93.

About Phillips 66

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.