Spire Wealth Management Trims Stock Holdings in Phillips 66 (NYSE:PSX)

Spire Wealth Management lowered its stake in Phillips 66 (NYSE:PSX) by 14.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,862 shares of the oil and gas company’s stock after selling 473 shares during the quarter. Spire Wealth Management’s holdings in Phillips 66 were worth $326,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Van ECK Associates Corp raised its holdings in Phillips 66 by 263.3% during the third quarter. Van ECK Associates Corp now owns 83,278 shares of the oil and gas company’s stock valued at $10,753,000 after acquiring an additional 60,355 shares during the period. Everence Capital Management Inc. purchased a new stake in shares of Phillips 66 during the fourth quarter worth about $3,033,000. Donoghue Forlines LLC bought a new stake in Phillips 66 during the 4th quarter valued at approximately $1,438,000. Mizuho Securities USA LLC lifted its holdings in Phillips 66 by 7,549.0% in 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. Finally, Smith Group Asset Management LLC bought a new position in Phillips 66 in the 4th quarter worth approximately $1,149,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Scotiabank reduced their price objective on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. StockNews.com downgraded shares of Phillips 66 from a “hold” rating to a “sell” rating in a report on Wednesday. UBS Group dropped their price objective 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. Wolfe Research upgraded 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. Finally, Barclays decreased 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. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $148.00.

Phillips 66 Stock Performance

NYSE PSX opened at $120.71 on Friday. The business’s 50 day moving average price is $119.81 and its 200-day moving average price is $128.11. Phillips 66 has a fifty-two week low of $108.90 and a fifty-two week high of $174.08. The company has a market cap of $49.85 billion, a P/E ratio of 24.44, a P/E/G ratio of 3.89 and a beta of 1.37. 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 (NYSE:PSX) last posted its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) EPS for the quarter, missing the consensus estimate of $1.23 by ($1.38). Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. During the same quarter in the previous year, the business earned $3.09 EPS. Sell-side analysts predict that Phillips 66 will post 7.57 earnings per share 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.