Wedmont Private Capital Buys 847 Shares of Phillips 66 (NYSE:PSX)

Wedmont Private Capital boosted its stake in Phillips 66 (NYSE:PSX) by 14.1% in the fourth quarter, HoldingsChannel reports. The firm owned 6,856 shares of the oil and gas company’s stock after buying an additional 847 shares during the period. Wedmont Private Capital’s holdings in Phillips 66 were worth $781,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PSX. Mizuho Securities USA LLC boosted its position in shares of Phillips 66 by 7,549.0% during the 3rd quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock worth $328,625,000 after purchasing an additional 2,467,316 shares in the last quarter. ING Groep NV raised its stake in Phillips 66 by 123.2% during the 3rd quarter. ING Groep NV now owns 1,182,980 shares of the oil and gas company’s stock worth $155,503,000 after buying an additional 653,032 shares during the period. Bank of Montreal Can boosted its holdings in Phillips 66 by 63.4% in the third quarter. Bank of Montreal Can now owns 1,633,876 shares of the oil and gas company’s stock worth $214,120,000 after acquiring an additional 633,970 shares in the last quarter. Mizuho Markets Americas LLC acquired a new stake in Phillips 66 in the third quarter valued at approximately $70,983,000. Finally, Canada Pension Plan Investment Board increased its holdings in shares of Phillips 66 by 574.0% during the second quarter. Canada Pension Plan Investment Board now owns 443,044 shares of the oil and gas company’s stock valued at $62,545,000 after acquiring an additional 377,314 shares in the last quarter. 76.93% of the stock is owned by institutional investors.

Phillips 66 Stock Up 0.9 %

PSX stock opened at $117.03 on Wednesday. The stock has a market cap of $48.33 billion, a P/E ratio of 15.02, a P/E/G ratio of 4.06 and a beta of 1.38. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The stock’s fifty day simple moving average is $122.91 and its two-hundred day simple moving average is $130.03. Phillips 66 has a 1-year low of $108.90 and a 1-year high of $174.08.

Phillips 66 (NYSE:PSX) last issued 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 company had revenue of $36.16 billion for the quarter, compared to the consensus estimate of $36.31 billion. During the same period in the previous year, the firm earned $4.63 EPS. The firm’s quarterly revenue was down 10.3% on a year-over-year basis. Analysts expect that Phillips 66 will post 7.56 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on PSX shares. Wolfe Research upgraded Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price on the stock in a report on Friday, January 3rd. Barclays dropped their price objective on shares of Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a research note on Monday. 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 report on Thursday, October 10th. Piper Sandler lowered shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Finally, UBS Group cut their price target on Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target 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.