Fiduciary Alliance LLC Invests $861,000 in Phillips 66 (NYSE:PSX)

Fiduciary Alliance LLC bought a new stake in Phillips 66 (NYSE:PSX) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 7,559 shares of the oil and gas company’s stock, valued at approximately $861,000.

A number of other large investors have also recently bought and sold shares of PSX. Legal & General Group Plc boosted its stake in shares of Phillips 66 by 0.5% during the second quarter. Legal & General Group Plc now owns 3,699,370 shares of the oil and gas company’s stock valued at $522,240,000 after acquiring an additional 18,238 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Phillips 66 by 3.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,643,264 shares of the oil and gas company’s stock worth $514,253,000 after purchasing an additional 111,261 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Phillips 66 by 0.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,901,887 shares of the oil and gas company’s stock worth $381,453,000 after buying an additional 16,941 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its position in shares of Phillips 66 by 2.9% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,813,579 shares of the oil and gas company’s stock valued at $397,193,000 after buying an additional 79,301 shares during the last quarter. Finally, Mizuho Securities USA LLC lifted its stake in shares of Phillips 66 by 7,549.0% during the third 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 buying an additional 2,467,316 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Price Performance

PSX stock opened at $116.02 on Tuesday. The firm has a market cap of $47.91 billion, a P/E ratio of 14.89, a price-to-earnings-growth ratio of 4.06 and a beta of 1.38. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. Phillips 66 has a 1 year low of $108.90 and a 1 year high of $174.08. The stock has a 50-day simple moving average of $123.00 and a 200-day simple moving average of $130.20.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, beating 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 business had revenue of $36.16 billion during the quarter, compared to analyst estimates of $36.31 billion. During the same period last year, the business earned $4.63 EPS. The business’s revenue was down 10.3% on a year-over-year basis. On average, equities analysts predict that Phillips 66 will post 7.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have weighed in on PSX. Morgan Stanley cut their price target on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. Barclays dropped 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. Mizuho lowered their price target on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a report on Monday, December 16th. Wells Fargo & Company cut their price objective on shares of Phillips 66 from $167.00 to $161.00 and set an “overweight” rating on the stock in a report on Monday, December 9th. Finally, UBS Group lowered their target price on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a report on Monday, November 4th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Phillips 66 has an average rating of “Moderate Buy” and an average target price 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.