Phillips 66 (NYSE:PSX) Shares Sold by Granite Group Advisors LLC

Granite Group Advisors LLC cut its stake in shares of Phillips 66 (NYSE:PSX) by 3.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,087 shares of the oil and gas company’s stock after selling 120 shares during the period. Granite Group Advisors LLC’s holdings in Phillips 66 were worth $352,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. nVerses Capital LLC acquired a new stake in shares of Phillips 66 in the third quarter valued at about $26,000. Values First Advisors Inc. acquired a new stake in Phillips 66 in the third quarter valued at approximately $30,000. Point72 Hong Kong Ltd purchased a new stake in shares of Phillips 66 during the third quarter valued at approximately $40,000. Sugar Maple Asset Management LLC acquired a new position in shares of Phillips 66 during the fourth quarter worth $47,000. Finally, Strategic Investment Solutions Inc. IL purchased a new position in shares of Phillips 66 in the second quarter valued at $51,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Wells Fargo & Company decreased their price objective on shares of Phillips 66 from $167.00 to $161.00 and set an “overweight” rating for the company in a research report on Monday, December 9th. Wolfe Research upgraded Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective on the stock in a report on Friday, January 3rd. Barclays cut their target price on Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Scotiabank decreased their price target 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. Finally, UBS Group cut 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. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $147.93.

Phillips 66 Trading Down 0.6 %

NYSE:PSX opened at $121.82 on Monday. Phillips 66 has a 12-month low of $108.90 and a 12-month high of $174.08. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The business has a 50 day simple moving average of $121.63 and a 200 day simple moving average of $129.07. The firm has a market capitalization of $50.31 billion, a P/E ratio of 15.64, a P/E/G ratio of 3.78 and a beta of 1.38.

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

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.