Phillips 66 (NYSE:PSX) Short Interest Update

Phillips 66 (NYSE:PSX) saw a significant decline in short interest in the month of December. As of December 31st, there was short interest totalling 6,370,000 shares, a decline of 14.0% from the December 15th total of 7,410,000 shares. Based on an average trading volume of 2,610,000 shares, the short-interest ratio is currently 2.4 days. Currently, 1.6% of the shares of the company are short sold.

Analyst Ratings Changes

PSX has been the topic of a number of recent research reports. Wells Fargo & Company lowered their target price 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. 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 for the company. 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 research note on Monday, November 4th. Wolfe Research upgraded shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective for the company in a research note on Friday, January 3rd. Finally, Piper Sandler lowered shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $147.93.

Phillips 66 Price Performance

Shares of PSX stock traded up $1.01 during trading hours on Friday, reaching $120.64. The company’s stock had a trading volume of 2,722,245 shares, compared to its average volume of 2,658,786. The firm’s 50 day simple moving average is $122.47 and its 200-day simple moving average is $129.74. The company has a market capitalization of $49.82 billion, a price-to-earnings ratio of 15.49, a PEG 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 fifty-two week low of $108.90 and a fifty-two week high of $174.08.

Phillips 66 (NYSE:PSX) last posted its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 EPS 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 during the quarter, compared to analysts’ expectations of $36.31 billion. During the same quarter in the prior year, the business earned $4.63 earnings per share. The business’s revenue for the quarter was down 10.3% compared to the same quarter last year. Sell-side analysts forecast that Phillips 66 will post 7.22 earnings per share for the current year.

Hedge Funds Weigh In On Phillips 66

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. nVerses Capital LLC bought a new position in shares of Phillips 66 in the 3rd quarter valued at $26,000. Values First Advisors Inc. bought a new stake in shares of Phillips 66 during the third quarter worth about $30,000. Point72 Hong Kong Ltd acquired a new position in shares of Phillips 66 in the third quarter valued at approximately $40,000. Sugar Maple Asset Management LLC bought a new position in Phillips 66 in the 4th quarter valued at approximately $47,000. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in Phillips 66 during the 2nd quarter worth approximately $51,000. Institutional investors own 76.93% of the company’s stock.

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.