Phillips 66 (NYSE:PSX) Shares Sold by Kingswood Wealth Advisors LLC

Kingswood Wealth Advisors LLC cut its holdings in Phillips 66 (NYSE:PSX) by 67.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,347 shares of the oil and gas company’s stock after selling 4,936 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in Phillips 66 were worth $268,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. nVerses Capital LLC purchased a new position in Phillips 66 during the third quarter worth $26,000. Values First Advisors Inc. acquired a new stake in shares of Phillips 66 during the third quarter valued at $30,000. Point72 Hong Kong Ltd purchased a new stake in Phillips 66 during the 3rd quarter worth about $40,000. Hoese & Co LLP lifted its holdings in Phillips 66 by 33.1% in the 3rd quarter. Hoese & Co LLP now owns 402 shares of the oil and gas company’s stock valued at $53,000 after purchasing an additional 100 shares in the last quarter. Finally, Sugar Maple Asset Management LLC acquired a new stake in shares of Phillips 66 during the 4th quarter worth about $47,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Stock Performance

NYSE:PSX opened at $117.24 on Friday. Phillips 66 has a twelve month low of $108.90 and a twelve month high of $174.08. The firm has a market capitalization of $48.42 billion, a price-to-earnings ratio of 15.05, a PEG ratio of 4.03 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 firm’s fifty day simple moving average is $120.54 and its 200 day simple moving average is $128.56.

Phillips 66 (NYSE:PSX) last issued its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of $1.23 by ($1.38). Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. During the same period in the previous year, the company posted $3.09 earnings per share. As a group, equities research analysts expect that Phillips 66 will post 6.27 earnings per share for the current fiscal year.

Analyst Ratings Changes

PSX has been the subject of a number of analyst reports. Barclays cut their price objective on shares of Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Bank of America initiated coverage on Phillips 66 in a research note on Thursday, October 17th. They set a “buy” rating and a $156.00 price target on the stock. Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective for the company in a research report on Friday, January 3rd. UBS Group reduced their target price on Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Finally, Piper Sandler cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Five research 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, Phillips 66 presently has a consensus 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.